Arkfeld Wealth Strategies L.L.C. Acquires Shares of 27,593 Symbotic Inc. (NASDAQ:SYM)

Arkfeld Wealth Strategies L.L.C. bought a new stake in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 27,593 shares of the company's stock, valued at approximately $590,000.

Several other institutional investors have also recently made changes to their positions in SYM. GAMMA Investing LLC grew its position in shares of Symbotic by 1,812.2% during the first quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock worth $29,000 after purchasing an additional 1,341 shares in the last quarter. IFP Advisors Inc boosted its stake in Symbotic by 58.2% in the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock worth $32,000 after purchasing an additional 503 shares during the period. Private Trust Co. NA purchased a new stake in Symbotic during the 4th quarter valued at approximately $47,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Symbotic during the fourth quarter valued at approximately $47,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Symbotic by 154.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company's stock worth $58,000 after buying an additional 1,490 shares in the last quarter.

Analysts Set New Price Targets

SYM has been the subject of several research analyst reports. UBS Group cut their price target on Symbotic from $32.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. BWS Financial reissued a "sell" rating and set a $10.00 price objective on shares of Symbotic in a research note on Wednesday, April 2nd. Citigroup decreased their price objective on Symbotic from $37.00 to $29.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, The Goldman Sachs Group dropped their target price on Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Symbotic has a consensus rating of "Hold" and a consensus price target of $37.20.

Insiders Place Their Bets

In related news, insider William M. Boyd III sold 2,455 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $22.31, for a total transaction of $54,771.05. Following the completion of the transaction, the insider now owns 39,659 shares of the company's stock, valued at $884,792.29. This trade represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Todd Krasnow sold 4,000 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $30.63, for a total transaction of $122,520.00. Following the transaction, the director now owns 189,036 shares of the company's stock, valued at $5,790,172.68. This represents a 2.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,056 shares of company stock valued at $1,028,601. Insiders own 0.60% of the company's stock.

Symbotic Stock Up 1.9%

Shares of Symbotic stock traded up $0.55 on Friday, reaching $29.81. The stock had a trading volume of 672,231 shares, compared to its average volume of 1,937,171. The stock has a market capitalization of $17.58 billion, a P/E ratio of -425.80, a P/E/G ratio of 6.48 and a beta of 1.95. The company has a 50 day moving average price of $24.03 and a 200 day moving average price of $25.43. Symbotic Inc. has a 1 year low of $16.32 and a 1 year high of $41.76.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). The company had revenue of $549.65 million for the quarter, compared to analyst estimates of $522.36 million. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. The business's revenue was up 39.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.07) EPS. On average, analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Symbotic 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.