Raymond James Financial Services Advisors Inc. Has $1.73 Million Stock Holdings in Symbotic Inc. (NASDAQ:SYM)

Raymond James Financial Services Advisors Inc. reduced its position in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 55.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,664 shares of the company's stock after selling 41,863 shares during the quarter. Raymond James Financial Services Advisors Inc.'s holdings in Symbotic were worth $1,728,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Centerpoint Advisors LLC acquired a new stake in Symbotic during the 4th quarter valued at $62,000. Raymond James & Associates increased its stake in shares of Symbotic by 15.4% in the fourth quarter. Raymond James & Associates now owns 579,876 shares of the company's stock worth $29,765,000 after acquiring an additional 77,388 shares during the last quarter. Wolff Wiese Magana LLC acquired a new position in shares of Symbotic in the fourth quarter worth $238,000. SG Americas Securities LLC acquired a new position in shares of Symbotic in the fourth quarter worth $136,000. Finally, Willis Johnson & Associates Inc. acquired a new position in shares of Symbotic in the fourth quarter worth $257,000.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SYM. William Blair reaffirmed a "market perform" rating on shares of Symbotic in a research note on Tuesday, February 6th. Needham & Company LLC decreased their price objective on shares of Symbotic from $58.00 to $54.00 and set a "buy" rating for the company in a report on Tuesday, February 6th. DA Davidson upgraded shares of Symbotic from a "neutral" rating to a "buy" rating and set a $50.00 price objective for the company in a report on Wednesday, February 7th. KeyCorp decreased their price objective on shares of Symbotic from $63.00 to $55.00 and set an "overweight" rating for the company in a report on Tuesday, February 6th. Finally, Northland Securities upped their price objective on shares of Symbotic from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Symbotic presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.00.

Symbotic Stock Down 5.2 %

SYM stock traded down $2.34 during mid-day trading on Friday, reaching $42.51. 841,377 shares of the stock traded hands, compared to its average volume of 1,474,279. Symbotic Inc. has a 52 week low of $22.40 and a 52 week high of $64.14. The business has a 50-day moving average of $44.05 and a two-hundred day moving average of $43.65. The firm has a market capitalization of $24.53 billion, a PE ratio of -161.15 and a beta of 1.91.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings data on Monday, February 5th. The company reported ($0.02) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.03. The business had revenue of $368.45 million during the quarter, compared to analyst estimates of $370.28 million. Symbotic had a negative net margin of 1.39% and a negative return on equity of 35.06%. On average, equities research analysts anticipate that Symbotic Inc. will post -0.02 EPS for the current fiscal year.

Insider Activity

In other news, Director Todd Krasnow sold 2,000 shares of the company's stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $51.50, for a total transaction of $103,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Michael David Dunn sold 5,444 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $43.29, for a total value of $235,670.76. Following the completion of the transaction, the insider now owns 71,366 shares of the company's stock, valued at $3,089,434.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Todd Krasnow sold 2,000 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $51.50, for a total transaction of $103,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,188,628 shares of company stock valued at $279,026,777. Insiders own 38.30% of the company's stock.

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.