Prospera Financial Services Inc Has $1.58 Million Position in Symbotic Inc. $SYM

Prospera Financial Services Inc increased its holdings in shares of Symbotic Inc. (NASDAQ:SYM) by 76.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,574 shares of the company’s stock after acquiring an additional 11,552 shares during the period. Prospera Financial Services Inc’s holdings in Symbotic were worth $1,581,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in SYM. MAI Capital Management boosted its position in shares of Symbotic by 833.3% during the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock valued at $30,000 after acquiring an additional 500 shares in the last quarter. Ameriflex Group Inc. boosted its position in shares of Symbotic by 1,500.0% during the 3rd quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock valued at $38,000 after acquiring an additional 660 shares in the last quarter. Strategic Advocates LLC acquired a new stake in shares of Symbotic during the 3rd quarter valued at about $42,000. NewEdge Advisors LLC boosted its position in Symbotic by 81.5% in the second quarter. NewEdge Advisors LLC now owns 1,276 shares of the company’s stock valued at $50,000 after buying an additional 573 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in Symbotic by 20,000.0% in the third quarter. Fifth Third Bancorp now owns 1,005 shares of the company’s stock valued at $54,000 after buying an additional 1,000 shares in the last quarter.

Insider Buying and Selling

In other Symbotic news, Director Charles Kane sold 4,000 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $47.86, for a total value of $191,440.00. Following the completion of the transaction, the director directly owned 89,852 shares of the company’s stock, valued at approximately $4,300,316.72. The trade was a 4.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Brian Daniel Alexander sold 37,860 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $59.97, for a total transaction of $2,270,464.20. Following the completion of the transaction, the senior vice president directly owned 44,229 shares of the company’s stock, valued at approximately $2,652,413.13. This represents a 46.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 149,845 shares of company stock valued at $8,414,964. Insiders own 8.16% of the company’s stock.

Symbotic Trading Up 1.4%

Shares of NASDAQ SYM opened at $53.63 on Thursday. Symbotic Inc. has a 1-year low of $27.26 and a 1-year high of $87.88. The company has a market cap of $32.32 billion, a PE ratio of -1,072.39, a P/E/G ratio of 7.80 and a beta of 2.03. The company has a 50-day moving average of $54.41 and a two-hundred day moving average of $58.47.

Symbotic (NASDAQ:SYM) last announced its earnings results on Wednesday, May 6th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.11). Symbotic had a negative return on equity of 0.68% and a negative net margin of 0.20%.The company had revenue of $676.48 million during the quarter, compared to the consensus estimate of $662.66 million. During the same period in the prior year, the firm posted ($0.04) earnings per share. The company’s revenue was up 23.1% on a year-over-year basis. As a group, equities research analysts forecast that Symbotic Inc. will post 0.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SYM shares. Needham & Company LLC boosted their price target on shares of Symbotic from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. The Goldman Sachs Group reduced their price target on shares of Symbotic from $54.00 to $45.00 and set a “sell” rating on the stock in a research report on Tuesday. Weiss Ratings lowered shares of Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Citigroup restated an “outperform” rating on shares of Symbotic in a research report on Thursday, February 5th. Finally, UBS Group set a $70.00 price target on shares of Symbotic in a research report on Wednesday, February 18th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $65.23.

Symbotic Profile

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.