Symbotic Inc. (NASDAQ:SYM) Shares Purchased by Vista Investment Partners LLC

Vista Investment Partners LLC raised its holdings in Symbotic Inc. (NASDAQ:SYM) by 36.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,899 shares of the company’s stock after purchasing an additional 7,403 shares during the period. Vista Investment Partners LLC’s holdings in Symbotic were worth $981,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Raymond James & Associates raised its stake in shares of Symbotic by 8.4% in the 2nd quarter. Raymond James & Associates now owns 668,103 shares of the company’s stock valued at $23,491,000 after purchasing an additional 51,712 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Symbotic in the 2nd quarter worth approximately $2,128,000. Register Financial Advisors LLC increased its holdings in shares of Symbotic by 268.8% in the 2nd quarter. Register Financial Advisors LLC now owns 41,300 shares of the company’s stock valued at $1,452,000 after acquiring an additional 30,100 shares during the last quarter. Polianta Ltd acquired a new stake in shares of Symbotic during the 2nd quarter valued at approximately $984,000. Finally, Cetera Advisors LLC lifted its stake in Symbotic by 11.2% during the first quarter. Cetera Advisors LLC now owns 8,372 shares of the company’s stock worth $377,000 after purchasing an additional 841 shares during the last quarter.

Symbotic Price Performance

Shares of NASDAQ SYM traded up $0.85 during midday trading on Friday, reaching $22.24. 2,949,572 shares of the company traded hands, compared to its average volume of 2,189,593. The company has a market cap of $13.02 billion, a price-to-earnings ratio of -92.66 and a beta of 1.86. The stock has a 50-day moving average price of $32.68 and a 200 day moving average price of $39.36. Symbotic Inc. has a 52 week low of $20.90 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) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The company had revenue of $491.86 million for 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 firm’s quarterly revenue was up 57.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.07) earnings per share. As a group, analysts expect that Symbotic Inc. will post -0.08 EPS for the current year.

Insider Buying and Selling at Symbotic

In other Symbotic news, major shareholder David A. Ladensohn sold 50,000 shares of Symbotic stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $40.89, for a total value of $2,044,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, major shareholder Janet L. Cohen sold 25,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $43.26, for a total transaction of $1,081,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder David A. Ladensohn sold 50,000 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $40.89, for a total value of $2,044,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 167,107 shares of company stock valued at $6,315,527. 38.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 target price on shares of Symbotic in a report on Tuesday, July 30th. Citigroup dropped their price objective on shares of Symbotic from $62.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Craig Hallum decreased their target price on Symbotic from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their target price on Symbotic from $58.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, The Goldman Sachs Group reduced their price objective on Symbotic from $40.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $43.23.

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.