National Bank of Canada FI Buys 957 Shares of Symbotic Inc. (NASDAQ:SYM)

National Bank of Canada FI lifted its position in Symbotic Inc. (NASDAQ:SYM) by 36.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,557 shares of the company’s stock after purchasing an additional 957 shares during the period. National Bank of Canada FI’s holdings in Symbotic were worth $87,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of SYM. Castleview Partners LLC increased its holdings in Symbotic by 50.0% during the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after buying an additional 500 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Symbotic during the 3rd quarter valued at $49,000. RiverPark Advisors LLC increased its stake in shares of Symbotic by 147.1% in the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after purchasing an additional 1,211 shares in the last quarter. RFP Financial Group LLC raised its holdings 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 purchasing an additional 310 shares during the period. Finally, Quest Partners LLC lifted its position in Symbotic by 19,307.7% during the third quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock valued at $62,000 after purchasing an additional 2,510 shares in the last quarter.

Analyst Ratings Changes

Several research firms have recently commented on SYM. DA Davidson downgraded Symbotic from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $50.00 to $35.00 in a research note on Wednesday, November 27th. KeyCorp restated a “sector weight” rating on shares of Symbotic in a research note on Wednesday, November 27th. TD Cowen upped their price target on shares of Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Needham & Company LLC reduced their price objective on shares of Symbotic from $46.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Finally, The Goldman Sachs Group lowered their target price on shares of Symbotic from $34.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.54.

Symbotic Trading Down 5.4 %

Shares of Symbotic stock opened at $25.53 on Wednesday. The firm has a market cap of $15.00 billion, a PE ratio of -425.50 and a beta of 1.73. The stock has a 50 day moving average of $29.66 and a 200 day moving average of $29.10. Symbotic Inc. has a 12 month low of $17.11 and a 12 month high of $58.28.

Symbotic (NASDAQ:SYM) last posted its earnings results on Monday, November 18th. The company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The firm had revenue of $576.77 million during the quarter, compared to the consensus estimate of $470.24 million. During the same period in the prior year, the company earned ($0.08) EPS. The company’s quarterly revenue was up 47.2% compared to the same quarter last year. As a group, equities research analysts forecast that Symbotic Inc. will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Carol J. Hibbard sold 22,821 shares of Symbotic stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total value of $660,896.16. Following the completion of the transaction, the chief financial officer now owns 34,188 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael David Dunn sold 63,867 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $30.08, for a total value of $1,921,119.36. Following the transaction, the insider now directly owns 24,055 shares in the company, valued at approximately $723,574.40. This represents a 72.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,745 shares of company stock valued at $3,261,675 in the last three months. Corporate insiders own 38.30% of the company’s stock.

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.