Concurrent Investment Advisors LLC Acquires Shares of 7,325 Symbotic Inc. $SYM

Key Points

• Concurrent Investment Advisors LLC acquired 7,325 shares of Symbotic Inc., valued at approximately $285,000, during the 2nd quarter.
• Major shareholder David A. Ladensohn sold 13,500 shares for about $1 million, reducing his ownership by 87.1%.
• Analysts have mixed ratings on Symbotic, with a consensus rating of "Hold" and a price target of $44.61, reflecting varying opinions on the company's future performance.

Concurrent Investment Advisors LLC acquired a new stake in Symbotic Inc. (NASDAQ:SYM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,325 shares of the company's stock, valued at approximately $285,000.

Other large investors also recently bought and sold shares of the company. AdvisorNet Financial Inc acquired a new stake in Symbotic in the second quarter valued at approximately $32,000. GAMMA Investing LLC grew its position in Symbotic by 1,812.2% in the first quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock valued at $29,000 after acquiring an additional 1,341 shares in the last quarter. Farther Finance Advisors LLC grew its position in Symbotic by 24.0% in the second quarter. Farther Finance Advisors LLC now owns 1,765 shares of the company's stock valued at $69,000 after acquiring an additional 342 shares in the last quarter. Ulland Investment Advisors LLC grew its position in Symbotic by 45.9% in the second quarter. Ulland Investment Advisors LLC now owns 2,225 shares of the company's stock valued at $86,000 after acquiring an additional 700 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Symbotic by 408.2% during the 1st quarter. CWM LLC now owns 2,602 shares of the company's stock valued at $53,000 after buying an additional 2,090 shares during the last quarter.

Insider Transactions at Symbotic

In other Symbotic news, major shareholder David A. Ladensohn sold 13,500 shares of the stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $74.44, for a total value of $1,004,940.00. Following the sale, the insider directly owned 2,000 shares of the company's stock, valued at $148,880. This trade represents a 87.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles Kane sold 25,000 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $47.62, for a total value of $1,190,500.00. Following the completion of the sale, the director directly owned 79,507 shares in the company, valued at $3,786,123.34. This represents a 23.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 490,826 shares of company stock valued at $25,183,619 over the last three months. 0.60% of the stock is currently owned by company insiders.

Symbotic Price Performance

Shares of SYM opened at $68.52 on Monday. The business's fifty day moving average price is $54.54 and its 200 day moving average price is $41.24. Symbotic Inc. has a 12-month low of $16.32 and a 12-month high of $79.58. The stock has a market capitalization of $40.46 billion, a PE ratio of -978.72, a price-to-earnings-growth ratio of 11.54 and a beta of 2.06.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $592.12 million for the quarter, compared to the consensus estimate of $533.55 million. During the same quarter last year, the business earned ($0.02) earnings per share. The business's revenue for the quarter was up 25.9% compared to the same quarter last year. As a group, research analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SYM has been the subject of several research analyst reports. Arete cut Symbotic from a "buy" rating to a "neutral" rating and set a $50.00 target price for the company. in a research note on Friday, July 25th. Arete Research cut Symbotic from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Northland Securities increased their target price on Symbotic from $35.00 to $56.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Baird R W cut Symbotic from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. Finally, Oppenheimer increased their target price on Symbotic from $54.00 to $59.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Seven analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $44.61.

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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