Symbotic Inc. (NASDAQ:SYM) Shares Purchased by 180 Wealth Advisors LLC

180 Wealth Advisors LLC increased its holdings in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 38.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 53,620 shares of the company's stock after acquiring an additional 14,999 shares during the period. 180 Wealth Advisors LLC's holdings in Symbotic were worth $1,084,000 at the end of the most recent quarter.

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

Symbotic Stock Up 0.5%

Shares of SYM traded up $0.14 during mid-day trading on Tuesday, reaching $29.48. The company had a trading volume of 718,942 shares, compared to its average volume of 1,934,176. The stock has a market capitalization of $17.38 billion, a P/E ratio of -421.08, a PEG ratio of 6.48 and a beta of 1.85. Symbotic Inc. has a 52-week low of $16.32 and a 52-week high of $41.76. The stock has a 50 day moving average of $23.32 and a two-hundred day moving average of $25.45.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its 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 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%. Symbotic's revenue was up 39.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.07) earnings per share. On average, sell-side analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on SYM. Needham & Company LLC dropped their target price on shares of Symbotic from $35.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Citigroup lowered their price target on shares of Symbotic from $37.00 to $29.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Cantor Fitzgerald reissued an "overweight" rating and set a $60.00 price objective on shares of Symbotic in a report on Thursday, February 6th. Raymond James downgraded shares of Symbotic from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 6th. Finally, The Goldman Sachs Group dropped their target price on Symbotic from $25.00 to $18.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Symbotic presently has an average rating of "Hold" and a consensus target price 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 dated 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 sale, the insider now directly owns 39,659 shares in the company, valued at approximately $884,792.29. This trade represents a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael David Dunn sold 2,040 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $22.24, for a total value of $45,369.60. Following the completion of the transaction, the insider now owns 23,822 shares in the company, valued at $529,801.28. This represents a 7.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,056 shares of company stock valued at $1,028,601 in the last 90 days. 0.60% of the stock is owned by insiders.

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.