Oppenheimer & Co. Inc. Increases Holdings in Symbotic Inc. (NASDAQ:SYM)

Oppenheimer & Co. Inc. increased its position in Symbotic Inc. (NASDAQ:SYM) by 76.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,131 shares of the company’s stock after buying an additional 5,694 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Symbotic were worth $320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Castleview Partners LLC increased its holdings in shares of Symbotic by 50.0% in the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after buying an additional 500 shares during the period. Arcadia Investment Management Corp MI bought a new position in Symbotic during the 3rd quarter worth approximately $49,000. RFP Financial Group LLC increased its stake in Symbotic by 22.4% in the 2nd quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock worth $59,000 after purchasing an additional 310 shares during the period. Quarry LP bought a new stake in Symbotic in the second quarter valued at approximately $65,000. Finally, Van ECK Associates Corp boosted its stake in shares of Symbotic by 28.4% during the third quarter. Van ECK Associates Corp now owns 3,497 shares of the company’s stock valued at $85,000 after purchasing an additional 774 shares during the period.

Symbotic Trading Up 0.1 %

SYM opened at $36.36 on Friday. The stock has a 50-day moving average of $27.76 and a 200 day moving average of $31.11. Symbotic Inc. has a 12 month low of $17.11 and a 12 month high of $59.82. The firm has a market cap of $21.29 billion, a P/E ratio of -605.17 and a beta of 1.81.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. The company had revenue of $576.77 million for the quarter, compared to analyst estimates of $470.24 million. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.54%. Symbotic’s revenue was up 47.2% compared to the same quarter last year. During the same period last year, the company posted ($0.08) earnings per share. On average, research analysts forecast that Symbotic Inc. will post 0.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SYM has been the topic of several analyst reports. DA Davidson reaffirmed a “buy” rating and issued a $47.00 target price on shares of Symbotic in a research note on Tuesday. Citigroup decreased their price objective on shares of Symbotic from $62.00 to $49.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a research report on Tuesday. BWS Financial reissued a “sell” rating and issued a $10.00 target price on shares of Symbotic in a report on Tuesday. Finally, Robert W. Baird decreased their target price on shares of Symbotic from $53.00 to $41.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.31.

Insider Transactions at Symbotic

In other Symbotic news, CFO Carol J. Hibbard sold 22,821 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $28.96, for a total transaction 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 approximately $990,084.48. This trade represents a 40.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.75, for a total transaction of $37,500.00. Following the completion of the sale, the director now directly owns 214,036 shares in the company, valued at $4,013,175. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,878 shares of company stock worth $1,378,056. Company insiders own 38.30% of the company’s stock.

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.