LPL Financial LLC Buys 25,364 Shares of Symbotic Inc. $SYM

Key Points

• LPL Financial LLC increased its stake in Symbotic Inc. by 58.8%, acquiring an additional 25,364 shares during the first quarter, bringing its total holdings to 68,531 shares valued at approximately $1.385 million.
• Insider transactions included William M. Boyd III selling 25,000 shares for $1.225 million and Rollin L. Ford selling 90,000 shares for $4.641 million, indicating significant insider selling activity.
• Analysts have mixed opinions on the stock, with ratings ranging from "strong buy" to "strong sell," and a consensus target price of $42.69 per share.

LPL Financial LLC raised its stake in Symbotic Inc. (NASDAQ:SYM - Free Report) by 58.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 68,531 shares of the company's stock after buying an additional 25,364 shares during the quarter. LPL Financial LLC's holdings in Symbotic were worth $1,385,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC lifted its position in shares of Symbotic by 1,812.2% in 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. Ulland Investment Advisors LLC bought a new stake in shares of Symbotic in the first quarter worth $31,000. CWM LLC lifted its position in shares of Symbotic by 408.2% in the first quarter. CWM LLC now owns 2,602 shares of the company's stock worth $53,000 after purchasing an additional 2,090 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Symbotic by 40.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,566 shares of the company's stock worth $85,000 after buying an additional 1,018 shares during the last quarter. Finally, CoreCap Advisors LLC grew its holdings in shares of Symbotic by 364.6% in the 4th quarter. CoreCap Advisors LLC now owns 5,529 shares of the company's stock valued at $131,000 after acquiring an additional 4,339 shares in the last quarter.

Insider Buying and Selling

In other news, insider William M. Boyd III sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $49.00, for a total value of $1,225,000.00. Following the transaction, the insider owned 34,544 shares of the company's stock, valued at approximately $1,692,656. This represents a 41.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rollin L. Ford sold 90,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $51.57, for a total value of $4,641,300.00. Following the completion of the transaction, the director directly owned 14,507 shares in the company, valued at $748,125.99. The trade was a 86.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 270,241 shares of company stock valued at $13,789,392 in the last ninety days. 0.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SYM has been the topic of several analyst reports. Arete Research lowered Symbotic from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Oppenheimer upped their price objective on Symbotic from $54.00 to $59.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Baird R W downgraded Symbotic from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. Zacks Research cut shares of Symbotic from a "hold" rating to a "strong sell" rating in a research note on Friday, August 15th. Finally, Deutsche Bank Aktiengesellschaft lowered 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. Seven investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $42.69.

Symbotic Price Performance

Symbotic stock opened at $46.23 on Friday. 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 capitalization of $27.30 billion, a PE ratio of -660.33 and a beta of 2.06. The company's 50-day moving average is $47.20 and its 200-day moving average is $32.11.

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

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