Crewe Advisors LLC Acquires 4,050 Shares of Symbotic Inc. (NASDAQ:SYM)

Crewe Advisors LLC raised its holdings in Symbotic Inc. (NASDAQ:SYM) by 2,700.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,200 shares of the company’s stock after acquiring an additional 4,050 shares during the period. Crewe Advisors LLC’s holdings in Symbotic were worth $189,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp acquired a new position in Symbotic in the 4th quarter worth about $26,000. RiverPark Advisors LLC bought a new position in Symbotic in the 1st quarter valued at approximately $37,000. Pingora Partners LLC bought a new position in Symbotic in the 4th quarter valued at approximately $51,000. Global Retirement Partners LLC grew its holdings in Symbotic by 166.7% during the 1st quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock worth $48,000 after acquiring an additional 660 shares during the last quarter. Finally, TFC Financial Management Inc. grew its holdings in Symbotic by 97.1% during the 4th quarter. TFC Financial Management Inc. now owns 1,226 shares of the company’s stock worth $63,000 after acquiring an additional 604 shares during the last quarter.

Symbotic Trading Up 4.6 %

Shares of SYM stock traded up $1.65 during trading hours on Thursday, hitting $37.84. 1,548,848 shares of the company were exchanged, compared to its average volume of 1,362,547. The stock has a market capitalization of $22.12 billion, a price-to-earnings ratio of -157.66 and a beta of 1.87. The firm has a fifty day simple moving average of $37.83 and a 200 day simple moving average of $41.38. Symbotic Inc. has a 52-week low of $29.62 and a 52-week high of $64.14.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.25. Symbotic had a positive return on equity of 5.27% and a negative net margin of 1.27%. The company had revenue of $424.30 million during the quarter, compared to the consensus estimate of $415.98 million. Sell-side analysts anticipate that Symbotic Inc. will post -0.03 EPS for the current year.

Analyst Ratings Changes

SYM has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Symbotic from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. BWS Financial assumed coverage on shares of Symbotic in a research note on Monday. They issued a “sell” rating and a $10.00 price target for the company. William Blair reissued a “market perform” rating on shares of Symbotic in a research report on Friday, May 10th. Vertical Research started coverage on Symbotic in a research report on Tuesday. They issued a “hold” rating and a $45.00 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $54.00 price target on shares of Symbotic in a report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Symbotic presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.50.

Insider Transactions at Symbotic

In other Symbotic news, insider Michael David Dunn sold 1,895 shares of Symbotic stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $36.56, for a total transaction of $69,281.20. Following the completion of the transaction, the insider now owns 77,326 shares of the company’s stock, valued at approximately $2,827,038.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Todd Krasnow sold 2,000 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $35.49, for a total value of $70,980.00. Following the sale, the director now owns 2,000 shares in the company, valued at $70,980. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael David Dunn sold 1,895 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $36.56, for a total value of $69,281.20. Following the transaction, the insider now owns 77,326 shares of the company’s stock, valued at $2,827,038.56. The disclosure for this sale can be found here. Insiders sold 152,106 shares of company stock valued at $6,045,053 over the last three months. Company insiders own 38.30% of the company’s stock.

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.