Arete Wealth Advisors LLC Acquires Shares of 12,750 Symbotic Inc. (NASDAQ:SYM)

Arete Wealth Advisors LLC bought a new stake in Symbotic Inc. (NASDAQ:SYM) in the third quarter, HoldingsChannel reports. The fund bought 12,750 shares of the company’s stock, valued at approximately $311,000.

Other hedge funds have also modified their holdings of the company. California State Teachers Retirement System boosted its position in Symbotic by 4.5% in the 1st quarter. California State Teachers Retirement System now owns 15,057 shares of the company’s stock valued at $678,000 after buying an additional 654 shares during the last quarter. Raymond James & Associates boosted its holdings in Symbotic by 8.4% in the second quarter. Raymond James & Associates now owns 668,103 shares of the company’s stock valued at $23,491,000 after purchasing an additional 51,712 shares during the last quarter. Vista Investment Partners LLC grew its stake in Symbotic by 36.1% during the 2nd quarter. Vista Investment Partners LLC now owns 27,899 shares of the company’s stock valued at $981,000 after purchasing an additional 7,403 shares in the last quarter. RFP Financial Group LLC increased its holdings in Symbotic by 22.4% during 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 last quarter. Finally, Lakeshore Financial Planning Inc. acquired a new position in shares of Symbotic in the 2nd quarter valued at approximately $237,000.

Insider Buying and Selling

In other news, insider Michael David Dunn sold 63,867 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $30.08, for a total value of $1,921,119.36. Following the completion of the sale, the insider now directly owns 24,055 shares of the company’s stock, valued at approximately $723,574.40. This represents a 72.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction, the chief financial officer now owns 34,188 shares in the company, valued at $990,084.48. This represents a 40.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,745 shares of company stock valued at $3,261,675 in the last three months. 38.30% of the stock is currently owned by corporate insiders.

Symbotic Stock Performance

SYM stock opened at $26.87 on Friday. Symbotic Inc. has a 1 year low of $17.11 and a 1 year high of $58.28. The stock has a market capitalization of $15.73 billion, a price-to-earnings ratio of -446.33 and a beta of 1.73. The stock’s fifty day moving average is $29.49 and its two-hundred day moving average is $29.56.

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

Wall Street Analysts Forecast Growth

SYM has been the subject of a number of recent analyst reports. Craig Hallum downgraded shares of Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a research report on Wednesday, November 27th. The Goldman Sachs Group dropped their target price on shares of Symbotic from $34.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, December 4th. Needham & Company LLC reduced their price target on shares of Symbotic from $46.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Northland Securities boosted their price objective on Symbotic from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Finally, DA Davidson downgraded Symbotic from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $50.00 to $35.00 in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $42.54.

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.