Prospera Financial Services Inc Has $1.58 Million Holdings in Symbotic Inc. $SYM

Prospera Financial Services Inc grew its stake in Symbotic Inc. (NASDAQ:SYM) by 76.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,574 shares of the company’s stock after buying an additional 11,552 shares during the quarter. Prospera Financial Services Inc’s holdings in Symbotic were worth $1,581,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MAI Capital Management boosted its holdings in shares of Symbotic by 833.3% in the third quarter. MAI Capital Management now owns 560 shares of the company’s stock valued at $30,000 after buying an additional 500 shares during the period. Ameriflex Group Inc. boosted its holdings in shares of Symbotic by 1,500.0% in the third quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock valued at $38,000 after buying an additional 660 shares during the period. Strategic Advocates LLC acquired a new position in shares of Symbotic in the third quarter valued at approximately $42,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Symbotic in the fourth quarter valued at approximately $55,000. Finally, Fifth Third Bancorp boosted its holdings in shares of Symbotic by 20,000.0% in the third quarter. Fifth Third Bancorp now owns 1,005 shares of the company’s stock valued at $54,000 after buying an additional 1,000 shares during the period.

Analysts Set New Price Targets

Several research firms have recently weighed in on SYM. Northland Securities set a $73.00 price target on shares of Symbotic in a report on Thursday, February 5th. Wall Street Zen cut shares of Symbotic from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Needham & Company LLC upped their price target on shares of Symbotic from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Citigroup reiterated an “outperform” rating on shares of Symbotic in a report on Thursday, February 5th. Finally, DA Davidson reiterated a “buy” rating and issued a $70.00 price target on shares of Symbotic in a report on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Symbotic presently has a consensus rating of “Hold” and a consensus price target of $65.23.

Symbotic Trading Up 1.4%

Shares of SYM opened at $53.63 on Thursday. Symbotic Inc. has a 12 month low of $27.26 and a 12 month high of $87.88. The firm has a fifty day simple moving average of $54.41 and a 200 day simple moving average of $58.47. The stock has a market capitalization of $32.32 billion, a price-to-earnings ratio of -1,072.39, a PEG ratio of 7.80 and a beta of 2.03.

Symbotic (NASDAQ:SYM) last announced its earnings results on Wednesday, May 6th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.11). Symbotic had a negative return on equity of 0.68% and a negative net margin of 0.20%.The business had revenue of $676.48 million for the quarter, compared to analyst estimates of $662.66 million. During the same quarter in the previous year, the company posted ($0.04) EPS. The business’s revenue for the quarter was up 23.1% compared to the same quarter last year. As a group, research analysts predict that Symbotic Inc. will post 0.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Symbotic

In related news, SVP Brian Daniel Alexander sold 37,860 shares of the stock in a transaction on Friday, April 24th. The shares were sold at an average price of $59.97, for a total transaction of $2,270,464.20. Following the completion of the transaction, the senior vice president owned 44,229 shares in the company, valued at approximately $2,652,413.13. This represents a 46.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider William M. Boyd III sold 9,194 shares of the stock in a transaction on Monday, April 27th. The stock was sold at an average price of $58.75, for a total transaction of $540,147.50. Following the transaction, the insider owned 62,227 shares of the company’s stock, valued at $3,655,836.25. The trade was a 12.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 149,845 shares of company stock valued at $8,414,964 in the last three months. 8.16% of the stock is currently owned by insiders.

Symbotic Company Profile

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.