Proactive Wealth Strategies LLC Acquires Shares of 14,785 Symbotic Inc. $SYM

Proactive Wealth Strategies LLC acquired a new stake in Symbotic Inc. (NASDAQ:SYM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 14,785 shares of the company’s stock, valued at approximately $880,000.

Other institutional investors also recently bought and sold shares of the company. MAI Capital Management increased its stake in Symbotic by 833.3% in the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock valued at $30,000 after buying an additional 500 shares during the period. Ameriflex Group Inc. increased its stake in Symbotic by 1,500.0% in the 3rd quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock valued at $38,000 after buying an additional 660 shares during the period. Strategic Advocates LLC acquired a new position in Symbotic in the 3rd quarter valued at $42,000. Fifth Third Bancorp increased its stake in Symbotic by 20,000.0% in the 3rd 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 during the period. Finally, NewEdge Advisors LLC increased its stake in Symbotic by 81.5% in the 2nd quarter. NewEdge Advisors LLC now owns 1,276 shares of the company’s stock valued at $50,000 after buying an additional 573 shares during the period.

Insiders Place Their Bets

In related news, Director Charles Kane sold 2,000 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $58.26, for a total value of $116,520.00. Following the sale, the director directly owned 89,852 shares in the company, valued at $5,234,777.52. The trade was a 2.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Todd Krasnow sold 25,422 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $52.45, for a total transaction of $1,333,383.90. Following the completion of the sale, the director owned 182,036 shares in the company, valued at $9,547,788.20. This represents a 12.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 123,003 shares of company stock worth $6,996,241. 8.16% of the stock is owned by company insiders.

Symbotic Stock Down 3.1%

NASDAQ:SYM opened at $49.73 on Thursday. Symbotic Inc. has a fifty-two week low of $26.03 and a fifty-two week high of $87.88. The stock has a market cap of $29.95 billion, a PE ratio of -994.40, a price-to-earnings-growth ratio of 5.14 and a beta of 2.03. The firm’s fifty day simple moving average is $54.49 and its 200-day simple moving average is $60.15.

Symbotic (NASDAQ:SYM) last posted its quarterly 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 for the quarter, compared to analyst estimates of $662.66 million. During the same period last year, the company earned ($0.04) earnings per share. The business’s revenue for the quarter was up 23.1% compared to the same quarter last year. Equities analysts anticipate that Symbotic Inc. will post 0.33 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on SYM. UBS Group set a $70.00 price objective on shares of Symbotic in a research note on Wednesday, February 18th. Zacks Research raised shares of Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Citigroup reaffirmed an “outperform” rating on shares of Symbotic in a research note on Thursday, February 5th. Weiss Ratings cut shares of Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Finally, Barclays upped their price target on shares of Symbotic from $42.00 to $44.00 and gave the stock an “underweight” rating in a research note on Monday, March 16th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $65.62.

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.