Financial Sense Advisors Inc. Acquires Shares of 5,490 Symbotic Inc. (NASDAQ:SYM)

Financial Sense Advisors Inc. purchased a new stake in Symbotic Inc. (NASDAQ:SYM) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 5,490 shares of the company’s stock, valued at approximately $247,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Van ECK Associates Corp bought a new stake in Symbotic during the 4th quarter worth approximately $26,000. Pingora Partners LLC bought a new stake in shares of Symbotic during the fourth quarter valued at about $51,000. Centerpoint Advisors LLC bought a new stake in shares of Symbotic during the fourth quarter valued at about $62,000. TFC Financial Management Inc. increased its position in shares of Symbotic by 97.1% during the fourth quarter. TFC Financial Management Inc. now owns 1,226 shares of the company’s stock valued at $63,000 after buying an additional 604 shares during the period. Finally, Rakuten Securities Inc. bought a new position in shares of Symbotic in the fourth quarter worth approximately $85,000.

Insiders Place Their Bets

In related news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $35.49, for a total transaction of $70,980.00. Following the sale, the director now owns 2,000 shares of the company’s stock, valued at approximately $70,980. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $35.49, for a total transaction of $70,980.00. Following the transaction, the director now owns 2,000 shares of the company’s stock, valued at approximately $70,980. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael David Dunn sold 1,747 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $40.08, for a total value of $70,019.76. Following the transaction, the insider now owns 74,032 shares of the company’s stock, valued at approximately $2,967,202.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 151,958 shares of company stock valued at $6,050,192. Insiders own 38.30% of the company’s stock.

Symbotic Stock Down 2.3 %

Shares of SYM stock opened at $35.34 on Thursday. The stock has a fifty day moving average of $39.27 and a 200 day moving average of $42.84. Symbotic Inc. has a 52 week low of $29.62 and a 52 week high of $64.14.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.22 earnings per share for the quarter, beating 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 firm had revenue of $424.30 million during the quarter, compared to the consensus estimate of $415.98 million. Equities analysts anticipate that Symbotic Inc. will post -0.07 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on SYM. Craig Hallum upped their price objective on shares of Symbotic from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Northland Securities upped their price objective on shares of Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Robert W. Baird upped their price objective on shares of Symbotic from $52.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft upped 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. Finally, William Blair reaffirmed a “market perform” rating on shares of Symbotic in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $57.00.

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.