35,410 Shares in Symbotic Inc. (NASDAQ:SYM) Acquired by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. acquired a new position in Symbotic Inc. (NASDAQ:SYM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 35,410 shares of the company's stock, valued at approximately $716,000.

Several other institutional investors also recently modified their holdings of the stock. Walmart Inc. bought a new position in shares of Symbotic in the fourth quarter worth approximately $355,650,000. Raymond James Financial Inc. bought a new position in shares of Symbotic in the fourth quarter worth approximately $20,754,000. Invesco Ltd. increased its position in shares of Symbotic by 25.9% in the fourth quarter. Invesco Ltd. now owns 727,890 shares of the company's stock worth $17,258,000 after purchasing an additional 149,918 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Symbotic by 18.0% during the first quarter. Exchange Traded Concepts LLC now owns 680,734 shares of the company's stock valued at $13,758,000 after acquiring an additional 104,068 shares during the last quarter. Finally, TCW Group Inc. grew its position in Symbotic by 1.8% during the first quarter. TCW Group Inc. now owns 593,442 shares of the company's stock valued at $11,993,000 after acquiring an additional 10,487 shares during the last quarter.

Symbotic Stock Performance

NASDAQ:SYM opened at $51.73 on Wednesday. The business has a 50 day moving average price of $44.01 and a 200-day moving average price of $31.04. Symbotic Inc. has a fifty-two week low of $16.32 and a fifty-two week high of $64.16. The firm has a market cap of $30.50 billion, a PE ratio of -738.89, a price-to-earnings-growth ratio of 53.38 and a beta of 2.06.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.05) EPS 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 business had revenue of $592.12 million during the quarter, compared to analysts' expectations of $533.55 million. During the same period in the previous year, the business earned ($0.02) EPS. The business's revenue was up 25.9% compared to the same quarter last year. Research analysts predict that Symbotic Inc. will post 0.13 EPS for the current year.

Analyst Upgrades and Downgrades

SYM has been the topic of a number of recent research reports. Oppenheimer increased their price target on shares of Symbotic from $54.00 to $59.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Robert W. Baird cut shares of Symbotic from an "outperform" rating to a "neutral" rating and set a $55.00 price target on the stock. in a research report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft cut shares of Symbotic from a "buy" rating to a "hold" rating and set a $51.00 price target on the stock. in a research report on Friday, July 18th. Citigroup reiterated a "buy" rating on shares of Symbotic in a research report on Monday, July 14th. Finally, Needham & Company LLC increased their price target on shares of Symbotic from $32.00 to $57.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $42.69.

Insider Buying and Selling

In other Symbotic news, CFO Carol J. Hibbard sold 6,293 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $55.42, for a total transaction of $348,758.06. Following the completion of the transaction, the chief financial officer owned 61,971 shares of the company's stock, valued at approximately $3,434,432.82. This trade represents a 9.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Maria G. Freve sold 478 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $54.73, for a total value of $26,160.94. Following the transaction, the insider directly owned 3,312 shares of the company's stock, valued at $181,265.76. This represents a 12.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 108,241 shares of company stock valued at $5,492,282 over the last three months. Insiders own 0.60% of the company's stock.

Symbotic Company Profile

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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