Register Financial Advisors LLC Acquires 10,350 Shares of Symbotic Inc. (NASDAQ:SYM)

Register Financial Advisors LLC grew its position in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 9.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,767 shares of the company's stock after buying an additional 10,350 shares during the quarter. Symbotic accounts for approximately 1.3% of Register Financial Advisors LLC's holdings, making the stock its 17th largest position. Register Financial Advisors LLC's holdings in Symbotic were worth $2,420,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SYM. Walmart Inc. purchased a new stake in Symbotic during the fourth quarter valued at approximately $355,650,000. Vanguard Group Inc. grew its position in shares of Symbotic by 41.3% during the 4th quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company's stock valued at $117,846,000 after acquiring an additional 1,452,627 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Symbotic during the 4th quarter valued at $20,754,000. Invesco Ltd. increased its stake in shares of Symbotic by 25.9% in the 4th quarter. Invesco Ltd. now owns 727,890 shares of the company's stock worth $17,258,000 after purchasing an additional 149,918 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in Symbotic by 18.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 680,734 shares of the company's stock worth $13,758,000 after purchasing an additional 104,068 shares during the period.

Symbotic Stock Performance

SYM stock traded down $0.69 during trading on Tuesday, hitting $32.20. 2,697,454 shares of the company's stock traded hands, compared to its average volume of 1,976,217. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $41.76. The stock has a market capitalization of $18.99 billion, a price-to-earnings ratio of -805.00, a P/E/G ratio of 56.67 and a beta of 1.95. The business has a fifty day simple moving average of $26.62 and a 200 day simple moving average of $25.44.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.09). The business had revenue of $549.65 million during the quarter, compared to the consensus estimate of $522.36 million. Symbotic had a negative net margin of 0.23% and a negative return on equity of 1.26%. The firm's revenue was up 39.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.07) EPS. Research analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Carol J. Hibbard sold 4,628 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $22.62, for a total value of $104,685.36. Following the sale, the chief financial officer now directly owns 54,011 shares of the company's stock, valued at $1,221,728.82. This represents a 7.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider William M. Boyd III sold 11,735 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $21.95, for a total value of $257,583.25. Following the transaction, the insider now owns 36,999 shares of the company's stock, valued at $812,128.05. This trade represents a 24.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,656 shares of company stock valued at $1,220,907 in the last ninety days. Insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.