First Dallas Securities Inc. Grows Stock Holdings in Symbotic Inc. (NASDAQ:SYM)

First Dallas Securities Inc. raised its stake in Symbotic Inc. (NASDAQ:SYM) by 60.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,300 shares of the company’s stock after buying an additional 7,300 shares during the period. First Dallas Securities Inc.’s holdings in Symbotic were worth $869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in SYM. 1832 Asset Management L.P. boosted its position in Symbotic by 189.5% in the 4th quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company’s stock valued at $54,174,000 after buying an additional 690,900 shares during the period. Coatue Management LLC purchased a new stake in Symbotic in the 4th quarter valued at about $11,088,000. Hodges Capital Management Inc. bought a new position in shares of Symbotic during the third quarter valued at approximately $5,740,000. First Trust Advisors LP boosted its stake in shares of Symbotic by 44.0% during the fourth quarter. First Trust Advisors LP now owns 510,237 shares of the company’s stock valued at $26,190,000 after purchasing an additional 155,828 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Symbotic by 170.4% during the fourth quarter. Wells Fargo & Company MN now owns 171,585 shares of the company’s stock valued at $8,807,000 after purchasing an additional 108,126 shares in the last quarter.

Insider Buying and Selling

In related news, Director Rollin L. Ford sold 49,998 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $37.29, for a total transaction of $1,864,425.42. Following the completion of the transaction, the director now owns 10,447 shares of the company’s stock, valued at $389,568.63. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Symbotic news, major shareholder David A. Ladensohn sold 50,000 shares of Symbotic stock in a transaction on Friday, May 24th. The shares were sold at an average price of $40.89, for a total value of $2,044,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rollin L. Ford sold 49,998 shares of Symbotic stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $37.29, for a total transaction of $1,864,425.42. Following the completion of the sale, the director now owns 10,447 shares in the company, valued at approximately $389,568.63. The disclosure for this sale can be found here. Insiders sold a total of 150,214 shares of company stock valued at $6,030,760 over the last 90 days. Insiders own 38.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Craig Hallum increased their price objective on shares of Symbotic from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Northland Securities raised their target price on shares of Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. William Blair restated a “market perform” rating on shares of Symbotic in a research note on Friday, May 10th. Needham & Company LLC restated a “buy” rating and issued a $54.00 target price on shares of Symbotic in a research note on Tuesday, May 7th. Finally, Robert W. Baird raised their target price on shares of Symbotic from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.69.

Symbotic Trading Down 0.1 %

Shares of NASDAQ SYM traded down $0.04 during midday trading on Friday, reaching $35.16. The company had a trading volume of 1,353,911 shares, compared to its average volume of 1,406,457. The business’s 50-day simple moving average is $39.54 and its 200 day simple moving average is $43.21. Symbotic Inc. has a 1 year low of $29.62 and a 1 year high of $64.14.

Symbotic (NASDAQ:SYM) last issued its earnings results on Monday, May 6th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.25. Symbotic had a negative net margin of 1.27% and a positive return on equity of 5.27%. The firm had revenue of $424.30 million during the quarter, compared to analysts’ expectations of $415.98 million. On average, analysts forecast that Symbotic Inc. will post -0.07 earnings per share for the current year.

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.