First Dallas Securities Inc. Acquires 12,300 Shares of Symbotic Inc. (NASDAQ:SYM)

First Dallas Securities Inc. raised its holdings in shares of Symbotic Inc. (NASDAQ:SYM) by 61.2% during the third quarter, HoldingsChannel reports. The fund owned 32,400 shares of the company’s stock after purchasing an additional 12,300 shares during the quarter. First Dallas Securities Inc.’s holdings in Symbotic were worth $790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. RFP Financial Group LLC grew its position in Symbotic by 22.4% in the second quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock worth $59,000 after acquiring an additional 310 shares in the last quarter. Castleview Partners LLC grew its position in Symbotic by 50.0% in the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after acquiring an additional 500 shares in the last quarter. California State Teachers Retirement System grew its position in Symbotic by 4.5% in the first quarter. California State Teachers Retirement System now owns 15,057 shares of the company’s stock worth $678,000 after acquiring an additional 654 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Symbotic by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 8,655 shares of the company’s stock worth $304,000 after acquiring an additional 679 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in Symbotic by 28.4% in the third quarter. Van ECK Associates Corp now owns 3,497 shares of the company’s stock worth $85,000 after acquiring an additional 774 shares in the last quarter.

Symbotic Price Performance

Symbotic stock opened at $28.55 on Tuesday. The stock has a market cap of $16.72 billion, a price-to-earnings ratio of -475.83 and a beta of 1.73. Symbotic Inc. has a 1 year low of $17.11 and a 1 year high of $58.28. The firm has a 50-day moving average of $29.30 and a two-hundred day moving average of $29.70.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Monday, November 18th. The company reported $0.05 EPS for the quarter, meeting the consensus estimate 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 in the previous year, the business posted ($0.08) EPS. The company’s quarterly revenue was up 47.2% compared to the same quarter last year. Research analysts expect that Symbotic Inc. will post 0.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SYM has been the subject of several analyst reports. Needham & Company LLC cut their price target on shares of Symbotic from $46.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. The Goldman Sachs Group cut their price target on shares of Symbotic from $34.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, December 4th. KeyCorp restated a “sector weight” rating on shares of Symbotic in a research report on Wednesday, November 27th. Northland Securities upped their price objective on shares of Symbotic from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, William Blair reaffirmed a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Symbotic has an average rating of “Moderate Buy” and an average target price of $42.54.

Insider Buying and Selling

In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $23.96, for a total transaction of $47,920.00. Following the completion of the transaction, the director now directly owns 2,000 shares in the company, valued at approximately $47,920. This represents a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael David Dunn sold 5,266 shares of the company’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 transaction, the insider now owns 85,224 shares of the company’s stock, valued at $2,029,183.44. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,878 shares of company stock worth $1,340,556 in the last 90 days. 38.30% of the stock is owned by corporate 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.