180 Wealth Advisors LLC Has $2.27 Million Holdings in Symbotic Inc. $SYM

Key Points

• 180 Wealth Advisors LLC increased its stake in Symbotic Inc. by 9.1%, holding 58,521 shares valued at approximately $2.27 million.
• Investment analysts are mixed on Symbotic, with ratings including seven "Buy," thirteen "Hold," and three "Sell," alongside a consensus price target of $44.61.
• In recent insider trading, Director Todd Krasnow sold 30,000 shares for over $1.5 million, contributing to a total of 490,348 shares sold by insiders in the last 90 days.

180 Wealth Advisors LLC lifted its position in Symbotic Inc. (NASDAQ:SYM - Free Report) by 9.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,521 shares of the company's stock after purchasing an additional 4,901 shares during the quarter. 180 Wealth Advisors LLC's holdings in Symbotic were worth $2,274,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SYM. ARK Investment Management LLC lifted its holdings in shares of Symbotic by 13.3% during the 2nd quarter. ARK Investment Management LLC now owns 445,498 shares of the company's stock worth $17,308,000 after acquiring an additional 52,205 shares during the period. Onyx Bridge Wealth Group LLC acquired a new stake in Symbotic during the second quarter valued at approximately $341,000. Gables Capital Management Inc. bought a new stake in shares of Symbotic in the 2nd quarter valued at approximately $39,000. Phoenix Financial Ltd. bought a new stake in shares of Symbotic in the 2nd quarter valued at approximately $245,000. Finally, JTC Employer Solutions Trustee Ltd acquired a new position in shares of Symbotic in the 2nd quarter worth approximately $105,000.

Analysts Set New Price Targets

Several analysts recently commented on the company. Arete lowered Symbotic from a "buy" rating to a "neutral" rating and set a $50.00 price target on the stock. in a research note on Friday, July 25th. Oppenheimer upped their target price on shares of Symbotic from $54.00 to $59.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Zacks Research upgraded shares of Symbotic from a "strong sell" rating to a "hold" rating in a research report on Wednesday, October 1st. Weiss Ratings restated a "hold (c-)" rating on shares of Symbotic in a research report on Wednesday, October 8th. Finally, Northcoast Research set a $65.00 price objective on shares of Symbotic and gave the stock a "buy" rating in a report on Thursday, October 2nd. Seven investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, Symbotic currently has an average rating of "Hold" and a consensus price target of $44.61.

Insider Activity

In other Symbotic news, Director Todd Krasnow sold 30,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $51.54, for a total value of $1,546,200.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William M. Boyd III sold 25,000 shares of Symbotic stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $59.00, for a total value of $1,475,000.00. Following the completion of the sale, the insider directly owned 31,884 shares of the company's stock, valued at $1,881,156. This trade represents a 43.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 490,348 shares of company stock worth $25,157,458. 0.60% of the stock is owned by company insiders.

Symbotic Stock Up 5.3%

Shares of NASDAQ:SYM opened at $67.86 on Friday. The firm has a market cap of $40.07 billion, a P/E ratio of -969.29, a P/E/G ratio of 10.85 and a beta of 2.06. Symbotic Inc. has a 12 month low of $16.32 and a 12 month high of $79.58. The company's 50-day moving average price is $55.81 and its two-hundred day moving average price is $42.30.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.08). Symbotic had a negative return on equity of 2.02% and a negative net margin of 0.38%.The company had revenue of $592.12 million during the quarter, compared to the consensus estimate of $533.55 million. During the same period in the prior year, the firm posted ($0.02) earnings per share. The company's revenue was up 25.9% on a year-over-year basis. As a group, equities analysts predict that Symbotic Inc. will post 0.13 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.

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