Private Trust Co. NA Purchases 200 Shares of Symbotic Inc. $SYM

Private Trust Co. NA grew its holdings in Symbotic Inc. (NASDAQ:SYM) by 10.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,200 shares of the company’s stock after acquiring an additional 200 shares during the quarter. Private Trust Co. NA’s holdings in Symbotic were worth $85,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of SYM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Symbotic by 16.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,343,902 shares of the company’s stock valued at $27,155,000 after acquiring an additional 187,538 shares during the period. Raymond James Financial Inc. grew its holdings in shares of Symbotic by 12.1% during the 1st quarter. Raymond James Financial Inc. now owns 980,922 shares of the company’s stock worth $19,824,000 after purchasing an additional 105,616 shares in the last quarter. TCW Group Inc. raised its stake in shares of Symbotic by 1.8% in the first quarter. TCW Group Inc. now owns 593,442 shares of the company’s stock valued at $11,993,000 after purchasing an additional 10,487 shares in the last quarter. Amanah Holdings Trust bought a new position in Symbotic in the second quarter worth $19,824,000. Finally, S Squared Technology LLC boosted its stake in Symbotic by 6.7% during the first quarter. S Squared Technology LLC now owns 480,000 shares of the company’s stock worth $9,701,000 after buying an additional 30,000 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SYM shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Symbotic in a report on Wednesday, October 8th. Arete lowered Symbotic from a “buy” rating to a “neutral” rating and set a $50.00 price objective for the company. in a research note on Friday, July 25th. Northland Securities boosted their target price on shares of Symbotic from $35.00 to $56.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Needham & Company LLC increased their target price on shares of Symbotic from $32.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Finally, UBS Group reissued a “sell” rating and set a $35.00 price target (up from $27.00) on shares of Symbotic in a report on Tuesday, September 23rd. Seven research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $44.61.

Insider Activity

In related news, major shareholder Millennium Gst Non-Exempt Rbc sold 220,000 shares of Symbotic stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $46.45, for a total transaction of $10,219,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Todd Krasnow sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $51.54, for a total value of $1,546,200.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 490,348 shares of company stock valued at $25,157,458. Corporate insiders own 0.60% of the company’s stock.

Symbotic Price Performance

Shares of NASDAQ:SYM opened at $64.44 on Thursday. The stock has a market cap of $38.05 billion, a price-to-earnings ratio of -920.44, a P/E/G ratio of 11.77 and a beta of 2.06. The company has a 50 day moving average of $55.50 and a 200-day moving average of $41.96. Symbotic Inc. has a one year low of $16.32 and a one year high of $79.58.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.08). Symbotic had a negative return on equity of 2.02% and a negative net margin of 0.38%.The company had revenue of $592.12 million for the quarter, compared to analyst estimates of $533.55 million. During the same period last year, the firm earned ($0.02) earnings per share. The firm’s revenue for the quarter was up 25.9% on a year-over-year basis. Equities research analysts anticipate that Symbotic Inc. will post 0.13 earnings per share 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.