14,785 Shares in Symbotic Inc. $SYM Purchased by Proactive Wealth Strategies LLC

Proactive Wealth Strategies LLC acquired a new position in Symbotic Inc. (NASDAQ:SYM) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 14,785 shares of the company’s stock, valued at approximately $880,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Centerpoint Advisors LLC lifted its holdings in Symbotic by 16.7% in the 3rd quarter. Centerpoint Advisors LLC now owns 1,400 shares of the company’s stock valued at $75,000 after purchasing an additional 200 shares in the last quarter. Barton Investment Management lifted its holdings in Symbotic by 0.8% in the 4th quarter. Barton Investment Management now owns 30,658 shares of the company’s stock valued at $1,824,000 after purchasing an additional 233 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Symbotic by 4.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,627 shares of the company’s stock valued at $357,000 after purchasing an additional 273 shares in the last quarter. AlphaQuest LLC lifted its holdings in Symbotic by 12.9% in the 3rd quarter. AlphaQuest LLC now owns 2,519 shares of the company’s stock valued at $136,000 after purchasing an additional 287 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in Symbotic by 4.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 7,733 shares of the company’s stock valued at $460,000 after purchasing an additional 321 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Northland Securities set a $73.00 target price on shares of Symbotic in a report on Thursday, February 5th. Zacks Research upgraded shares of Symbotic from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. UBS Group set a $70.00 target price on shares of Symbotic in a report on Wednesday, February 18th. Citigroup restated an “outperform” rating on shares of Symbotic in a report on Thursday, February 5th. Finally, Wall Street Zen lowered shares of Symbotic from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $65.62.

Insider Buying and Selling at Symbotic

In other news, SVP Brian Daniel Alexander sold 37,860 shares of the stock in a transaction dated 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 transaction, the senior vice president directly owned 44,229 shares in the company, valued at $2,652,413.13. This represents a 46.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Todd Krasnow sold 25,422 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $52.45, for a total transaction of $1,333,383.90. Following the transaction, the director owned 182,036 shares in the company, valued at approximately $9,547,788.20. The trade was a 12.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 123,003 shares of company stock worth $6,996,241. 8.16% of the stock is currently owned by insiders.

Symbotic Price Performance

Shares of SYM stock opened at $49.73 on Thursday. The firm has a market cap of $29.95 billion, a P/E ratio of -994.40, a PEG ratio of 5.14 and a beta of 2.03. Symbotic Inc. has a 1-year low of $26.03 and a 1-year high of $87.88. The firm’s 50-day simple moving average is $54.49 and its 200-day simple moving average is $60.15.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.11). The company had revenue of $676.48 million for the quarter, compared to analysts’ expectations of $662.66 million. Symbotic had a negative return on equity of 0.68% and a negative net margin of 0.20%.The company’s revenue was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.04) earnings per share. Analysts expect that Symbotic Inc. will post 0.33 earnings per share for the current fiscal year.

About Symbotic

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.