Quest Partners LLC Increases Stock Holdings in Symbotic Inc. (NASDAQ:SYM)

Quest Partners LLC boosted its position in shares of Symbotic Inc. (NASDAQ:SYM) by 19,307.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,523 shares of the company’s stock after acquiring an additional 2,510 shares during the period. Quest Partners LLC’s holdings in Symbotic were worth $62,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Castleview Partners LLC boosted its position in shares of Symbotic by 50.0% during the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after acquiring an additional 500 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in Symbotic during the third quarter valued at approximately $49,000. RiverPark Advisors LLC lifted its position in Symbotic by 147.1% during the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock valued at $50,000 after purchasing an additional 1,211 shares during the last quarter. RFP Financial Group LLC grew its stake in Symbotic by 22.4% in the 2nd quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock worth $59,000 after buying an additional 310 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Symbotic during the 2nd quarter valued at $65,000.

Insider Buying and Selling

In other news, CFO Carol J. Hibbard sold 22,821 shares of Symbotic stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $28.96, for a total transaction of $660,896.16. Following the sale, the chief financial officer now owns 34,188 shares of the company’s stock, valued at approximately $990,084.48. The trade was a 40.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Todd Krasnow sold 2,000 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $28.15, for a total transaction of $56,300.00. Following the completion of the transaction, the director now directly owns 214,036 shares of the company’s stock, valued at approximately $6,025,113.40. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,878 shares of company stock valued at $1,378,056 over the last ninety days. 38.30% of the stock is owned by insiders.

Symbotic Stock Performance

Shares of Symbotic stock opened at $26.90 on Friday. Symbotic Inc. has a 52-week low of $17.11 and a 52-week high of $58.58. The company’s 50 day moving average price is $28.97 and its 200-day moving average price is $30.51. The stock has a market capitalization of $15.75 billion, a price-to-earnings ratio of -448.33 and a beta of 1.81.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Monday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. The business had revenue of $576.77 million for the quarter, compared to analyst estimates of $470.24 million. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.54%. The company’s revenue was up 47.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.08) EPS. As a group, equities research analysts forecast that Symbotic Inc. will post 0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on SYM shares. BWS Financial reiterated a “sell” rating and issued a $10.00 target price on shares of Symbotic in a research report on Tuesday, November 19th. DA Davidson lowered Symbotic from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $50.00 to $35.00 in a research report on Wednesday. Northland Securities raised their price objective on Symbotic from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Needham & Company LLC cut their target price on Symbotic from $46.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, KeyCorp reissued a “sector weight” rating on shares of Symbotic in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.69.

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.