Capital Market Strategies LLC Takes $802,000 Position in Symbotic Inc. (NASDAQ:SYM)

Capital Market Strategies LLC acquired a new position in shares of Symbotic Inc. (NASDAQ:SYM) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 33,805 shares of the company’s stock, valued at approximately $802,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Castleview Partners LLC raised its position in shares of Symbotic by 50.0% during the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after purchasing an additional 500 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in Symbotic in the third quarter worth approximately $49,000. RiverPark Advisors LLC boosted its stake in Symbotic by 147.1% during the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock valued at $50,000 after buying an additional 1,211 shares in the last quarter. Quest Partners LLC grew its stake in shares of Symbotic by 19,307.7% in the 3rd 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 last quarter. Finally, Quarry LP bought a new position in shares of Symbotic in the second quarter valued at $65,000.

Symbotic Trading Up 7.9 %

Symbotic stock traded up $2.03 during midday trading on Monday, reaching $27.67. The company’s stock had a trading volume of 1,474,231 shares, compared to its average volume of 1,284,840. The stock has a market cap of $16.25 billion, a PE ratio of -461.17 and a beta of 1.73. Symbotic Inc. has a 52 week low of $17.11 and a 52 week high of $52.20. The business has a 50-day moving average price of $28.58 and a 200-day moving average price of $27.98.

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

Insider Activity at Symbotic

In other news, insider Michael David Dunn sold 1,715 shares of Symbotic stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $28.77, for a total value of $49,340.55. Following the completion of the transaction, the insider now owns 87,922 shares in the company, valued at $2,529,515.94. This trade represents a 1.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Carol J. Hibbard sold 22,821 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total value of $660,896.16. Following the completion of the transaction, the chief financial officer now directly owns 34,188 shares of the company’s stock, valued at $990,084.48. The trade was a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 109,844 shares of company stock valued at $3,220,351. 38.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SYM has been the subject of several research analyst reports. Northland Securities upped their price target on shares of Symbotic from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. KeyCorp restated a “sector weight” rating on shares of Symbotic in a report on Wednesday, November 27th. UBS Group reduced their price target on Symbotic from $40.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday. William Blair reiterated a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th. Finally, The Goldman Sachs Group dropped their price target on Symbotic from $34.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $41.79.

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.