Advisors Asset Management Inc. Has $265,000 Stock Holdings in Symbotic Inc. (NASDAQ:SYM)

Advisors Asset Management Inc. lifted its stake in Symbotic Inc. (NASDAQ:SYM) by 30.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,869 shares of the company’s stock after purchasing an additional 2,544 shares during the quarter. Advisors Asset Management Inc.’s holdings in Symbotic were worth $265,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SYM. Castleview Partners LLC boosted 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 purchased a new position in Symbotic during the 3rd quarter worth approximately $49,000. RiverPark Advisors LLC raised its stake in Symbotic by 147.1% during the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock valued at $50,000 after purchasing an additional 1,211 shares during the period. RFP Financial Group LLC lifted its holdings in shares of Symbotic by 22.4% in the second quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock valued at $59,000 after purchasing an additional 310 shares in the last quarter. Finally, Quest Partners LLC boosted its position in shares of Symbotic by 19,307.7% in the third quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock worth $62,000 after buying an additional 2,510 shares during the period.

Insider Buying and Selling

In other Symbotic news, Director Merline Saintil sold 5,250 shares of Symbotic stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $28.70, for a total value of $150,675.00. Following the transaction, the director now directly owns 74,562 shares of the company’s stock, valued at $2,139,929.40. The trade was a 6.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Carol J. Hibbard sold 22,821 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $28.96, for a total value of $660,896.16. Following the completion of the sale, the chief financial officer now directly owns 34,188 shares of the company’s stock, valued at $990,084.48. This represents a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 49,878 shares of company stock valued at $1,378,056. Company insiders own 38.30% of the company’s stock.

Symbotic Stock Performance

SYM opened at $24.00 on Friday. The company has a market cap of $14.05 billion, a PE ratio of -400.00 and a beta of 1.81. The stock has a 50-day moving average of $28.94 and a 200-day moving average of $30.72. Symbotic Inc. has a 52-week low of $17.11 and a 52-week high of $59.82.

Symbotic (NASDAQ:SYM) last posted its earnings results on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. Symbotic had a positive return on equity of 6.54% and a negative net margin of 0.32%. The firm had revenue of $576.77 million during the quarter, compared to analyst estimates of $470.24 million. During the same period in the previous year, the company earned ($0.08) EPS. The company’s revenue for the quarter was up 47.2% on a year-over-year basis. On average, research analysts predict that Symbotic Inc. will post 0.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

SYM has been the subject of several research analyst reports. DA Davidson downgraded Symbotic from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $50.00 to $35.00 in a research note on Wednesday. Craig Hallum downgraded shares of Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a research report on Wednesday. KeyCorp reiterated a “sector weight” rating on shares of Symbotic in a research report on Wednesday. Northland Securities boosted their price target on shares of Symbotic from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Finally, TD Cowen increased their price objective on Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.69.

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.