Symbotic Inc. (NASDAQ:SYM) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in Symbotic Inc. (NASDAQ:SYM) by 10.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,074 shares of the company’s stock after buying an additional 20,469 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Symbotic were worth $5,343,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SYM. RFP Financial Group LLC increased its stake in Symbotic by 22.4% in the 2nd quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock valued at $59,000 after buying an additional 310 shares during the period. Castleview Partners LLC grew its stake in Symbotic by 50.0% during the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after buying an additional 500 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of Symbotic by 4.5% during the first quarter. California State Teachers Retirement System now owns 15,057 shares of the company’s stock valued at $678,000 after purchasing an additional 654 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Symbotic by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 8,655 shares of the company’s stock valued at $304,000 after buying an additional 679 shares during the period. Finally, Van ECK Associates Corp raised its holdings in Symbotic by 28.4% in the third quarter. Van ECK Associates Corp now owns 3,497 shares of the company’s stock worth $85,000 after purchasing an additional 774 shares during the period.

Insider Buying and Selling at Symbotic

In other news, insider Michael David Dunn sold 1,715 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $28.77, for a total value of $49,340.55. Following the sale, the insider now owns 87,922 shares of the company’s stock, valued at approximately $2,529,515.94. The trade was a 1.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider William M. Boyd III sold 8,826 shares of Symbotic stock in a transaction on Monday, October 28th. The stock was sold at an average price of $28.33, for a total value of $250,040.58. Following the completion of the transaction, the insider now owns 23,012 shares in the company, valued at $651,929.96. The trade was a 27.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,745 shares of company stock worth $3,261,675 in the last 90 days. 38.30% of the stock is owned by corporate insiders.

Symbotic Stock Up 1.2 %

Shares of NASDAQ SYM opened at $27.01 on Friday. Symbotic Inc. has a 52 week low of $17.11 and a 52 week high of $58.28. The firm has a market cap of $15.82 billion, a P/E ratio of -450.17 and a beta of 1.73. The business’s 50 day moving average price is $29.49 and its 200 day moving average price is $29.56.

Symbotic (NASDAQ:SYM) last posted its earnings results on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The firm had revenue of $576.77 million during the quarter, compared to analysts’ expectations of $470.24 million. During the same quarter in the previous year, the business earned ($0.08) earnings per share. The firm’s revenue was up 47.2% compared to the same quarter last year. As a group, research analysts expect that Symbotic Inc. will post 0.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SYM. TD Cowen boosted their price objective on shares of Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. KeyCorp restated a “sector weight” rating on shares of Symbotic in a research report on Wednesday, November 27th. Needham & Company LLC decreased their price target on shares of Symbotic from $46.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. The Goldman Sachs Group decreased their price objective on shares of Symbotic from $34.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, December 4th. Finally, DA Davidson cut shares of Symbotic from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $50.00 to $35.00 in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.54.

About Symbotic

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.