Retirement Planning Co of New England Inc. Has $687,000 Stake in Symbotic Inc. (NASDAQ:SYM)

Retirement Planning Co of New England Inc. lifted its stake in Symbotic Inc. (NASDAQ:SYM) by 16.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,551 shares of the company’s stock after buying an additional 2,786 shares during the period. Retirement Planning Co of New England Inc.’s holdings in Symbotic were worth $687,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Symbotic by 16.6% during the first quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock worth $109,189,000 after buying an additional 345,386 shares in the last quarter. Blair William & Co. IL boosted its position in shares of Symbotic by 418.1% during the 1st quarter. Blair William & Co. IL now owns 33,365 shares of the company’s stock worth $1,501,000 after acquiring an additional 26,925 shares in the last quarter. Quadrature Capital Ltd bought a new position in Symbotic in the fourth quarter valued at approximately $1,669,000. Comerica Bank raised its position in Symbotic by 1,347.0% during the first quarter. Comerica Bank now owns 16,641 shares of the company’s stock valued at $749,000 after purchasing an additional 15,491 shares in the last quarter. Finally, Seven Eight Capital LP bought a new stake in Symbotic during the fourth quarter worth $2,568,000.

Analyst Upgrades and Downgrades

SYM has been the subject of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 price target on shares of Symbotic in a report on Tuesday, July 30th. KeyCorp lowered their target price on Symbotic from $55.00 to $40.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Vertical Research initiated coverage on shares of Symbotic in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $45.00 price target on the stock. Northland Securities lowered their price objective on shares of Symbotic from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. Finally, BWS Financial restated a “sell” rating and issued a $10.00 target price on shares of Symbotic in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.23.

Symbotic Stock Up 3.2 %

Shares of SYM opened at $21.14 on Friday. Symbotic Inc. has a 12 month low of $17.11 and a 12 month high of $59.82. The stock’s 50-day moving average price is $26.92 and its two-hundred day moving average price is $36.16.

Symbotic (NASDAQ:SYM) last announced its earnings results on Monday, July 29th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The firm had revenue of $491.86 million for the quarter, compared to the consensus estimate of $464.56 million. Symbotic had a positive return on equity of 4.08% and a negative net margin of 1.03%. Symbotic’s quarterly revenue was up 57.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.07) EPS. As a group, research analysts anticipate that Symbotic Inc. will post -0.08 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $35.49, for a total transaction of $70,980.00. Following the completion of the sale, the director now owns 2,000 shares of the company’s stock, valued at $70,980. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider William M. Boyd III sold 8,826 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $38.71, for a total transaction of $341,654.46. Following the transaction, the insider now owns 23,012 shares in the company, valued at $890,794.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $35.49, for a total value of $70,980.00. Following the completion of the sale, the director now owns 2,000 shares of the company’s stock, valued at $70,980. The disclosure for this sale can be found here. Insiders have sold 38,909 shares of company stock valued at $1,148,358 in the last ninety days. 38.30% of the stock is owned by company insiders.

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.