M&T Bank Corp Acquires 2,015 Shares of Symbotic Inc. (NASDAQ:SYM)

M&T Bank Corp increased its holdings in Symbotic Inc. (NASDAQ:SYM) by 15.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,650 shares of the company’s stock after purchasing an additional 2,015 shares during the quarter. M&T Bank Corp’s holdings in Symbotic were worth $357,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SYM. Castleview Partners LLC boosted its stake in shares of Symbotic by 50.0% during the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after purchasing an additional 500 shares during the period. Arcadia Investment Management Corp MI bought a new stake in Symbotic during the 3rd quarter valued at $49,000. RiverPark Advisors LLC boosted its position 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 buying an additional 1,211 shares during the period. RFP Financial Group LLC grew its holdings 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 acquiring an additional 310 shares during the last quarter. Finally, Quest Partners LLC increased 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 valued at $62,000 after acquiring an additional 2,510 shares during the period.

Insiders Place Their Bets

In related news, insider William M. Boyd III sold 8,826 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $28.33, for a total transaction of $250,040.58. Following the completion of the sale, the insider now owns 23,012 shares in the company, valued at approximately $651,929.96. This represents a 27.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael David Dunn sold 5,266 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $23.81, for a total value of $125,383.46. Following the completion of the transaction, the insider now directly owns 85,224 shares in the company, valued at $2,029,183.44. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,745 shares of company stock valued at $3,261,675. 38.30% of the stock is owned by insiders.

Symbotic Price Performance

NASDAQ:SYM opened at $23.97 on Thursday. The firm has a market capitalization of $14.08 billion, a P/E ratio of -399.50 and a beta of 1.73. Symbotic Inc. has a one year low of $17.11 and a one year high of $58.28. The company’s 50-day simple moving average is $29.67 and its 200 day simple moving average is $29.06.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Monday, November 18th. The company reported $0.05 EPS 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 company had revenue of $576.77 million for the quarter, compared to the consensus estimate of $470.24 million. During the same period in the prior year, the firm posted ($0.08) EPS. Symbotic’s revenue for the quarter was up 47.2% on a year-over-year basis. On average, equities research analysts expect that Symbotic Inc. will post 0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on SYM. KeyCorp reiterated a “sector weight” rating on shares of Symbotic in a report on Wednesday, November 27th. BWS Financial reiterated a “sell” rating and issued a $10.00 price objective on shares of Symbotic in a report on Tuesday, November 19th. Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 target price on shares of Symbotic in a research note on Tuesday, November 19th. Craig Hallum lowered Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a research note on Wednesday, November 27th. Finally, William Blair reissued a “market perform” rating on shares of Symbotic in a research report on Thursday, December 5th. One 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.54.

Symbotic Company 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.