Exchange Traded Concepts LLC lifted its position in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 76.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 873,987 shares of the company's stock after purchasing an additional 379,726 shares during the quarter. Exchange Traded Concepts LLC owned 0.15% of Symbotic worth $21,317,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. RiverPark Advisors LLC acquired a new stake in Symbotic in the 1st quarter valued at $37,000. RFP Financial Group LLC grew its stake in Symbotic by 21.2% in the 1st quarter. RFP Financial Group LLC now owns 1,382 shares of the company's stock valued at $62,000 after acquiring an additional 242 shares during the period. Quarry LP acquired a new stake in Symbotic in the 2nd quarter valued at $65,000. Natixis Investment Managers International acquired a new stake in Symbotic in the 1st quarter valued at $90,000. Finally, Sandia Investment Management LP purchased a new position in Symbotic in the 1st quarter valued at $112,000.
Shares of NASDAQ SYM opened at $29.93 on Friday. Symbotic Inc. has a twelve month low of $17.11 and a twelve month high of $59.82. The stock has a 50 day moving average of $22.42 and a two-hundred day moving average of $33.39. The stock has a market cap of $17.53 billion, a P/E ratio of -157.53 and a beta of 1.84.
Symbotic (NASDAQ:SYM - Get Free Report) last issued its quarterly earnings data on Monday, July 29th. The company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.04). Symbotic had a negative net margin of 1.03% and a positive return on equity of 4.08%. The firm had revenue of $491.86 million during the quarter, compared to analysts' expectations of $464.56 million. During the same quarter in the prior year, the firm posted ($0.07) EPS. Symbotic's quarterly revenue was up 57.7% compared to the same quarter last year. As a group, research analysts predict that Symbotic Inc. will post -0.08 earnings per share for the current year.
A number of research analysts have weighed in on SYM shares. Vertical Research started coverage on Symbotic in a report on Tuesday, July 23rd. They issued a "hold" rating and a $45.00 price objective on the stock. TD Cowen decreased their price objective on Symbotic from $55.00 to $43.00 and set a "buy" rating on the stock in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price target on Symbotic from $58.00 to $59.00 and gave the stock a "buy" rating in a report on Tuesday, July 30th. KeyCorp reduced their price target on Symbotic from $55.00 to $40.00 and set an "overweight" rating on the stock in a report on Tuesday, July 30th. Finally, Northland Securities reduced their price target on Symbotic from $60.00 to $50.00 and set an "outperform" rating on the stock in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $43.23.
View Our Latest Report on Symbotic
In related news, Director Todd Krasnow sold 17,000 shares of the company's stock in a transaction on Monday, August 5th. The stock was sold at an average price of $21.46, for a total transaction of $364,820.00. Following the transaction, the director now owns 214,036 shares of the company's stock, valued at $4,593,212.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Todd Krasnow sold 17,000 shares of the firm's stock in a transaction on Monday, August 5th. The stock was sold at an average price of $21.46, for a total value of $364,820.00. Following the completion of the transaction, the director now owns 214,036 shares in the company, valued at $4,593,212.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael David Dunn sold 1,895 shares of the firm's stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $36.56, for a total value of $69,281.20. Following the completion of the transaction, the insider now owns 77,326 shares of the company's stock, valued at approximately $2,827,038.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,987 shares of company stock valued at $1,066,559 over the last quarter. Company insiders own 38.30% of the company's stock.
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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