Symbotic Inc. $SYM Stake Boosted by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC grew its stake in shares of Symbotic Inc. (NASDAQ:SYM) by 112.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,661 shares of the company’s stock after purchasing an additional 13,063 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Symbotic were worth $1,467,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in SYM. MAI Capital Management boosted its position in shares of Symbotic by 833.3% during the third quarter. MAI Capital Management now owns 560 shares of the company’s stock worth $30,000 after buying an additional 500 shares during the period. Ameriflex Group Inc. boosted its position in shares of Symbotic by 1,500.0% during the third quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock worth $38,000 after buying an additional 660 shares during the period. Strategic Advocates LLC acquired a new position in shares of Symbotic during the third quarter worth approximately $42,000. NewEdge Advisors LLC boosted its position in shares of Symbotic by 81.5% during the second quarter. NewEdge Advisors LLC now owns 1,276 shares of the company’s stock worth $50,000 after buying an additional 573 shares during the period. Finally, Fifth Third Bancorp boosted its position in shares of Symbotic by 20,000.0% during the third quarter. Fifth Third Bancorp now owns 1,005 shares of the company’s stock worth $54,000 after buying an additional 1,000 shares during the period.

Analyst Ratings Changes

Several brokerages have recently issued reports on SYM. Needham & Company LLC boosted their price objective on Symbotic from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Symbotic in a research report on Tuesday, April 21st. DA Davidson upgraded Symbotic from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $57.00 to $70.00 in a research report on Wednesday, April 15th. Barclays boosted their price objective on Symbotic from $42.00 to $44.00 and gave the stock an “underweight” rating in a research report on Monday, March 16th. Finally, Zacks Research upgraded Symbotic from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $65.62.

Symbotic Price Performance

SYM opened at $58.89 on Friday. The company has a market capitalization of $35.46 billion, a price-to-earnings ratio of -588.84, a price-to-earnings-growth ratio of 5.92 and a beta of 2.03. Symbotic Inc. has a 1-year low of $21.89 and a 1-year high of $87.88. The business has a 50 day moving average price of $54.62 and a two-hundred day moving average price of $61.07.

Symbotic (NASDAQ:SYM) last released its earnings results on Wednesday, February 4th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.06). The firm had revenue of $629.99 million during the quarter, compared to analyst estimates of $622.58 million. Symbotic had a negative return on equity of 1.88% and a negative net margin of 0.45%.The business’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.03) earnings per share. Equities analysts expect that Symbotic Inc. will post 0.33 EPS for the current fiscal year.

Insider Transactions at Symbotic

In other Symbotic news, SVP Brian Daniel Alexander sold 37,860 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $59.97, for a total value of $2,270,464.20. Following the completion of the sale, the senior vice president directly owned 44,229 shares in the company, valued at $2,652,413.13. This represents a 46.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider William M. Boyd III sold 9,194 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $58.75, for a total value of $540,147.50. Following the completion of the sale, the insider owned 62,227 shares of the company’s stock, valued at $3,655,836.25. This trade represents a 12.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 157,581 shares of company stock valued at $9,096,637 over the last three months. 8.16% of the stock is owned by company insiders.

Symbotic Profile

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.