LPL Financial LLC Purchases 10,341 Shares of Symbotic Inc. (NASDAQ:SYM)

LPL Financial LLC grew its position in Symbotic Inc. (NASDAQ:SYM) by 31.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,167 shares of the company’s stock after buying an additional 10,341 shares during the period. LPL Financial LLC’s holdings in Symbotic were worth $1,023,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new position in shares of Symbotic during the fourth quarter worth $194,000. Sei Investments Co. acquired a new position in Symbotic during the 4th quarter valued at about $1,383,000. Virtu Financial LLC purchased a new stake in Symbotic in the fourth quarter valued at about $851,000. Commonwealth Equity Services LLC boosted its holdings in Symbotic by 1.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 48,672 shares of the company’s stock worth $1,154,000 after acquiring an additional 619 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of Symbotic by 2.4% during the fourth quarter. Swiss National Bank now owns 81,700 shares of the company’s stock worth $1,937,000 after acquiring an additional 1,900 shares during the last quarter.

Symbotic Price Performance

Shares of NASDAQ SYM opened at $20.41 on Monday. The firm’s 50 day simple moving average is $22.17 and its 200-day simple moving average is $26.26. Symbotic Inc. has a 12 month low of $16.32 and a 12 month high of $48.98. The stock has a market capitalization of $12.01 billion, a price-to-earnings ratio of -291.53, a PEG ratio of 6.48 and a beta of 1.86.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. Analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on SYM. Northland Securities increased their price objective on shares of Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. The Goldman Sachs Group decreased their price target on shares of Symbotic from $25.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Raymond James lowered shares of Symbotic from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. Oppenheimer initiated coverage on Symbotic in a research note on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 target price for the company. Finally, Citigroup dropped their price target on Symbotic from $37.00 to $29.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.20.

Insiders Place Their Bets

In related news, Director Rollin L. Ford sold 28,740 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $26.02, for a total transaction of $747,814.80. Following the transaction, the director now directly owns 10,447 shares in the company, valued at approximately $271,830.94. The trade was a 73.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $17.51, for a total value of $35,020.00. Following the transaction, the director now owns 194,036 shares in the company, valued at approximately $3,397,570.36. The trade was a 1.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 62,663 shares of company stock worth $1,653,063. Corporate insiders own 0.60% of the company’s stock.

Symbotic 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.