MML Investors Services LLC Has $251,000 Position in Symbotic Inc. (NASDAQ:SYM)

MML Investors Services LLC lessened its stake in Symbotic Inc. (NASDAQ:SYM) by 10.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,292 shares of the company’s stock after selling 1,144 shares during the period. MML Investors Services LLC’s holdings in Symbotic were worth $251,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in shares of Symbotic by 9.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 80,707 shares of the company’s stock worth $2,838,000 after acquiring an additional 7,058 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Symbotic by 21.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,309 shares of the company’s stock worth $222,000 after buying an additional 1,130 shares in the last quarter. Rothschild Investment LLC bought a new stake in Symbotic in the 2nd quarter valued at $119,000. Commonwealth Equity Services LLC raised its stake in shares of Symbotic by 51.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 30,996 shares of the company’s stock valued at $1,090,000 after buying an additional 10,477 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Symbotic by 109.5% during the 2nd quarter. Van ECK Associates Corp now owns 2,723 shares of the company’s stock worth $96,000 after acquiring an additional 1,423 shares during the period.

Symbotic Trading Down 3.8 %

SYM opened at $24.55 on Thursday. Symbotic Inc. has a 1-year low of $17.11 and a 1-year high of $57.16. The firm has a 50-day moving average price of $29.32 and a two-hundred day moving average price of $28.58. The stock has a market capitalization of $14.42 billion, a PE ratio of -409.17 and a beta of 1.73.

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

Insider Transactions at Symbotic

In other news, insider Michael David Dunn sold 63,867 shares of Symbotic stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $30.08, for a total transaction of $1,921,119.36. Following the completion of the sale, the insider now owns 24,055 shares in the company, valued at $723,574.40. The trade was a 72.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Carol J. Hibbard sold 22,821 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $28.96, for a total transaction of $660,896.16. Following the completion of the transaction, the chief financial officer now owns 34,188 shares in the company, valued at $990,084.48. This represents a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,745 shares of company stock worth $3,261,675 over the last 90 days. 38.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. DA Davidson lowered shares of Symbotic from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $50.00 to $35.00 in a research report on Wednesday, November 27th. Craig Hallum cut Symbotic from a “buy” rating to a “hold” rating and set a $25.00 target price for the company. in a report on Wednesday, November 27th. Northland Securities raised their target price on Symbotic from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Needham & Company LLC lowered their price target on Symbotic from $46.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 price objective on shares of Symbotic in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Symbotic has a consensus rating of “Moderate Buy” and a consensus target price of $42.54.

Symbotic Company 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.