Private Trust Co. NA Buys 200 Shares of Symbotic Inc. $SYM

Private Trust Co. NA grew its stake in shares of Symbotic Inc. (NASDAQ:SYM) by 10.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,200 shares of the company’s stock after acquiring an additional 200 shares during the period. Private Trust Co. NA’s holdings in Symbotic were worth $85,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of Symbotic by 1,812.2% in the first quarter. GAMMA Investing LLC now owns 1,415 shares of the company’s stock valued at $29,000 after buying an additional 1,341 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Symbotic by 11.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,285 shares of the company’s stock worth $268,000 after acquiring an additional 1,357 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Symbotic by 21.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 15,658 shares of the company’s stock valued at $316,000 after acquiring an additional 2,737 shares during the period. Spire Wealth Management raised its stake in shares of Symbotic by 8.0% during the first quarter. Spire Wealth Management now owns 13,596 shares of the company’s stock valued at $275,000 after acquiring an additional 1,012 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Symbotic by 21.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,248 shares of the company’s stock valued at $348,000 after acquiring an additional 3,024 shares during the last quarter.

Insider Buying and Selling at Symbotic

In other Symbotic news, major shareholder Millennium Gst Non-Exempt Rbc sold 220,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $46.45, for a total value of $10,219,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles Kane sold 25,000 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $47.62, for a total value of $1,190,500.00. Following the completion of the transaction, the director owned 79,507 shares of the company’s stock, valued at $3,786,123.34. This trade represents a 23.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 490,348 shares of company stock valued at $25,157,458 in the last quarter. 0.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SYM shares. Needham & Company LLC raised their target price on Symbotic from $32.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Northland Securities lifted their price objective on Symbotic from $35.00 to $56.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Oppenheimer upped their target price on Symbotic from $54.00 to $59.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. DA Davidson reissued a “neutral” rating and set a $47.00 target price (up previously from $35.00) on shares of Symbotic in a research report on Monday, August 25th. Finally, Northcoast Research set a $65.00 price target on shares of Symbotic and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Seven investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $44.61.

Symbotic Stock Down 7.8%

Shares of NASDAQ:SYM opened at $64.44 on Thursday. Symbotic Inc. has a twelve month low of $16.32 and a twelve month high of $79.58. The stock’s 50 day moving average is $55.50 and its 200-day moving average is $41.96. The firm has a market capitalization of $38.05 billion, a price-to-earnings ratio of -920.44, a PEG ratio of 11.77 and a beta of 2.06.

Symbotic (NASDAQ:SYM) last posted its earnings results on Wednesday, August 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.08). Symbotic had a negative return on equity of 2.02% and a negative net margin of 0.38%.The business had revenue of $592.12 million during the quarter, compared to analyst estimates of $533.55 million. During the same quarter in the prior year, the company earned ($0.02) EPS. The company’s revenue was up 25.9% on a year-over-year basis. Equities research analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

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.