Prospera Financial Services Inc Takes Position in Symbotic Inc. (NASDAQ:SYM)

Prospera Financial Services Inc purchased a new stake in Symbotic Inc. (NASDAQ:SYM) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,018 shares of the company’s stock, valued at approximately $464,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Castleview Partners LLC raised its position 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 period. Arcadia Investment Management Corp MI acquired a new position in shares of Symbotic during the 3rd quarter worth $49,000. RiverPark Advisors LLC increased its position in Symbotic by 147.1% during the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after buying an additional 1,211 shares during the last quarter. RFP Financial Group LLC raised its stake in shares of Symbotic by 22.4% in the 2nd quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock valued at $59,000 after acquiring an additional 310 shares in the last quarter. Finally, Quest Partners LLC boosted 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 worth $62,000 after purchasing an additional 2,510 shares during the period.

Symbotic Stock Up 6.9 %

SYM stock opened at $38.79 on Friday. Symbotic Inc. has a twelve month low of $17.11 and a twelve month high of $59.82. The company has a market cap of $22.71 billion, a P/E ratio of -646.42 and a beta of 1.81. The business’s fifty day moving average is $28.43 and its 200-day moving average is $31.13.

Symbotic (NASDAQ:SYM) last released its earnings results on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. The firm had revenue of $576.77 million for the quarter, compared to analyst estimates of $470.24 million. Symbotic had a positive return on equity of 6.54% and a negative net margin of 0.32%. The company’s quarterly revenue was up 47.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. Research analysts anticipate that Symbotic Inc. will post 0.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SYM shares. Needham & Company LLC raised their price target on Symbotic from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Craig Hallum cut their price target on shares of Symbotic from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. BWS Financial restated a “sell” rating and issued a $10.00 target price on shares of Symbotic in a research note on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft increased their price target on Symbotic from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, TD Cowen lowered their target price on Symbotic from $55.00 to $43.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $44.31.

Insider Buying and Selling

In related news, insider Michael David Dunn sold 5,266 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $23.81, for a total transaction of $125,383.46. Following the sale, the insider now owns 85,224 shares of the company’s stock, valued at approximately $2,029,183.44. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Carol J. Hibbard sold 22,821 shares of Symbotic stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total value of $660,896.16. Following the transaction, the chief financial officer now owns 34,188 shares in the company, valued at approximately $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 have sold 49,878 shares of company stock valued at $1,378,056 in the last 90 days. 38.30% of the stock is owned by insiders.

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.