Castleview Partners LLC Increases Holdings in Symbotic Inc. (NASDAQ:SYM)

Castleview Partners LLC grew its stake in shares of Symbotic Inc. (NASDAQ:SYM) by 50.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,500 shares of the company’s stock after purchasing an additional 500 shares during the quarter. Castleview Partners LLC’s holdings in Symbotic were worth $37,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. RiverPark Advisors LLC purchased a new stake in shares of Symbotic during the 1st quarter valued at about $37,000. RFP Financial Group LLC lifted its stake in shares of Symbotic by 21.2% in the first quarter. RFP Financial Group LLC now owns 1,382 shares of the company’s stock worth $62,000 after acquiring an additional 242 shares in the last quarter. Quarry LP acquired a new position in shares of Symbotic in the 2nd quarter valued at approximately $65,000. Natixis Investment Managers International bought a new position in Symbotic during the 1st quarter valued at $90,000. Finally, Sandia Investment Management LP bought a new position in shares of Symbotic during the first quarter worth about $112,000.

Insider Buying and Selling

In other news, insider Michael David Dunn sold 1,895 shares of Symbotic stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $36.56, for a total transaction of $69,281.20. Following the transaction, the insider now directly owns 77,326 shares in the company, valued at approximately $2,827,038.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Symbotic news, insider Michael David Dunn sold 1,895 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $36.56, for a total value of $69,281.20. Following the completion of the sale, the insider now directly owns 77,326 shares of the company’s stock, valued at approximately $2,827,038.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.75, for a total transaction of $37,500.00. Following the completion of the transaction, the director now directly owns 214,036 shares in the company, valued at $4,013,175. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,987 shares of company stock valued at $986,559 over the last quarter. Corporate insiders own 38.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SYM shares. Craig Hallum lowered their price objective on Symbotic from $54.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. TD Cowen lowered their price target on Symbotic from $55.00 to $43.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. The Goldman Sachs Group reduced their price objective on Symbotic from $40.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Robert W. Baird lowered 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. Finally, Citigroup reduced their price target 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.23.

Symbotic Trading Up 0.3 %

NASDAQ SYM opened at $30.14 on Tuesday. The company has a 50-day moving average price of $23.28 and a two-hundred day moving average price of $32.66. The stock has a market cap of $17.65 billion, a price-to-earnings ratio of -158.63 and a beta of 1.84. Symbotic Inc. has a 52 week low of $17.11 and a 52 week high of $59.82.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Monday, July 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.04). The business had revenue of $491.86 million during the quarter, compared to the consensus estimate of $464.56 million. Symbotic had a positive return on equity of 4.08% and a negative net margin of 1.03%. The company’s revenue for the quarter was up 57.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.07) EPS. As a group, equities research analysts expect that Symbotic Inc. will post -0.08 earnings per share for the current fiscal year.

About Symbotic

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.