10,080 Shares in Symbotic Inc. (NASDAQ:SYM) Acquired by L & S Advisors Inc

L & S Advisors Inc purchased a new stake in Symbotic Inc. (NASDAQ:SYM) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 10,080 shares of the company’s stock, valued at approximately $246,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its position in shares of Symbotic by 11.6% during the first quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock worth $123,000 after purchasing an additional 284 shares in the last quarter. RFP Financial Group LLC grew its stake in Symbotic by 22.4% during the 2nd quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock worth $59,000 after buying an additional 310 shares during the last quarter. Castleview Partners LLC lifted its stake in Symbotic by 50.0% in the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after buying an additional 500 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Symbotic by 4.5% in the first quarter. California State Teachers Retirement System now owns 15,057 shares of the company’s stock valued at $678,000 after acquiring an additional 654 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Symbotic by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 8,655 shares of the company’s stock worth $304,000 after acquiring an additional 679 shares during the last quarter.

Insiders Place Their Bets

In other news, insider Michael David Dunn sold 5,266 shares of Symbotic stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $23.81, for a total transaction of $125,383.46. Following the completion of the transaction, the insider now owns 85,224 shares of the company’s stock, valued at $2,029,183.44. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Todd Krasnow sold 2,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.75, for a total transaction of $37,500.00. Following the completion of the sale, the director now directly owns 214,036 shares in the company, valued at approximately $4,013,175. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,878 shares of company stock worth $1,378,056. Corporate insiders own 38.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SYM shares. TD Cowen reduced their price target on shares of Symbotic from $55.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Citigroup dropped their price objective on shares of Symbotic from $62.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Northland Securities increased their target price on shares of Symbotic from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday. Needham & Company LLC boosted their price target on Symbotic from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Craig Hallum reduced their price objective on Symbotic from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $44.31.

Symbotic Trading Up 0.1 %

NASDAQ SYM opened at $36.36 on Friday. The stock has a market capitalization of $21.29 billion, a price-to-earnings ratio of -605.93 and a beta of 1.81. The business’s 50 day moving average is $27.76 and its two-hundred day moving average is $31.11. Symbotic Inc. has a 12-month low of $17.11 and a 12-month high of $59.82.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. The firm had revenue of $576.77 million for the quarter, compared to the consensus estimate of $470.24 million. Symbotic had a positive return on equity of 6.54% and a negative net margin of 0.32%. The company’s revenue for the quarter was up 47.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.08) earnings per share. Equities analysts forecast that Symbotic Inc. will post 0.33 earnings per share for the current fiscal year.

About Symbotic

Symbotic Inc, an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. The company automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Its systems enhance operations at the front end of the supply chain.