Sunbelt Securities Inc. Purchases 8,235 Shares of Symbotic Inc. (NASDAQ:SYM)

Sunbelt Securities Inc. lifted its holdings in shares of Symbotic Inc. (NASDAQ:SYM) by 161.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,330 shares of the company’s stock after purchasing an additional 8,235 shares during the period. Sunbelt Securities Inc.’s holdings in Symbotic were worth $325,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Castleview Partners LLC boosted 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 acquiring an additional 500 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Symbotic during the third quarter valued at approximately $49,000. RiverPark Advisors LLC grew 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 acquiring an additional 1,211 shares in the last quarter. RFP Financial Group LLC grew its position 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 in the last quarter. Finally, Quest Partners LLC grew its holdings in shares of Symbotic by 19,307.7% in the third quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock valued at $62,000 after acquiring an additional 2,510 shares in the last quarter.

Insiders Place Their Bets

In related news, insider Michael David Dunn sold 63,867 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $30.08, for a total transaction of $1,921,119.36. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Todd Krasnow sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $23.96, for a total value of $47,920.00. Following the completion of the sale, the director now owns 2,000 shares of the company’s stock, valued at approximately $47,920. This trade represents a 50.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,745 shares of company stock valued at $3,261,675 in the last ninety days. Company insiders own 38.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SYM shares. BWS Financial restated a “sell” rating and set a $10.00 price target on shares of Symbotic in a research report on Tuesday, November 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $60.00 price target on shares of Symbotic in a research report on Tuesday, November 19th. Northland Securities boosted their price objective on Symbotic from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. TD Cowen upped their target price on shares of Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, KeyCorp reissued a “sector weight” rating on shares of Symbotic in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.54.

Symbotic Stock Performance

SYM stock opened at $26.87 on Friday. The firm has a market cap of $15.73 billion, a P/E ratio of -447.83 and a beta of 1.73. The firm’s fifty day moving average is $29.49 and its 200 day moving average is $29.56. Symbotic Inc. has a 52 week low of $17.11 and a 52 week high of $58.28.

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

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.