Symbotic Inc. (NASDAQ:SYM) Shares Sold by Crewe Advisors LLC

Crewe Advisors LLC lowered its position in Symbotic Inc. (NASDAQ:SYM) by 49.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,913 shares of the company’s stock after selling 1,887 shares during the quarter. Crewe Advisors LLC’s holdings in Symbotic were worth $47,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Baillie Gifford & Co. raised its stake in Symbotic by 32.0% during the third quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock worth $343,192,000 after purchasing an additional 3,410,050 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Symbotic by 191.5% in the second quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock worth $27,281,000 after acquiring an additional 509,700 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Symbotic by 76.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 873,987 shares of the company’s stock valued at $21,317,000 after buying an additional 379,726 shares during the last quarter. Vanguard Group Inc. boosted its stake in Symbotic by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock valued at $109,189,000 after acquiring an additional 345,386 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Symbotic by 6,694.5% in the second quarter. Millennium Management LLC now owns 335,649 shares of the company’s stock worth $11,801,000 after purchasing an additional 330,709 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SYM. The Goldman Sachs Group lowered their price objective on Symbotic from $40.00 to $30.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. BWS Financial restated a “sell” rating and set a $10.00 price objective on shares of Symbotic in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Symbotic from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Citigroup cut their price objective on shares of Symbotic from $62.00 to $49.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Finally, Robert W. Baird reduced their price objective on shares of Symbotic from $53.00 to $41.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Symbotic has an average rating of “Moderate Buy” and a consensus target price of $44.31.

Symbotic Trading Up 6.9 %

Symbotic stock opened at $38.78 on Monday. Symbotic Inc. has a 1 year low of $17.11 and a 1 year high of $59.82. The company’s 50-day moving average is $28.43 and its two-hundred day moving average is $30.90. The company has a market cap of $22.71 billion, a PE ratio of -646.33 and a beta of 1.81.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Monday, November 18th. The company reported $0.05 earnings per share (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 6.54%. The company had revenue of $576.77 million during the quarter, compared to analyst estimates of $470.24 million. During the same quarter in the previous year, the business earned ($0.08) EPS. The firm’s revenue was up 47.2% on a year-over-year basis. Research analysts forecast that Symbotic Inc. will post 0.36 EPS for the current year.

Insiders Place Their Bets

In related news, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.75, for a total value of $37,500.00. Following the transaction, the director now owns 214,036 shares in the company, valued at approximately $4,013,175. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Carol J. Hibbard sold 22,821 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total transaction of $660,896.16. Following the sale, the chief financial officer now directly owns 34,188 shares of the company’s stock, valued at $990,084.48. This represents a 40.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,878 shares of company stock valued at $1,378,056 in the last three months. 38.30% of the stock is currently owned by corporate insiders.

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.