Cetera Investment Advisers Has $584,000 Stock Position in Symbotic Inc. (NASDAQ:SYM)

Cetera Investment Advisers grew its position in Symbotic Inc. (NASDAQ:SYM) by 5.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 24,621 shares of the company’s stock after buying an additional 1,332 shares during the period. Cetera Investment Advisers’ holdings in Symbotic were worth $584,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Walmart Inc. bought a new position in Symbotic during the fourth quarter worth about $355,650,000. Vanguard Group Inc. grew its position in shares of Symbotic by 41.3% in the fourth quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company’s stock valued at $117,846,000 after purchasing an additional 1,452,627 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Symbotic in the fourth quarter valued at approximately $20,754,000. Invesco Ltd. boosted its stake in shares of Symbotic by 25.9% in the fourth quarter. Invesco Ltd. now owns 727,890 shares of the company’s stock valued at $17,258,000 after buying an additional 149,918 shares during the period. Finally, TCW Group Inc. boosted its stake in shares of Symbotic by 51.7% in the fourth quarter. TCW Group Inc. now owns 582,955 shares of the company’s stock valued at $13,822,000 after buying an additional 198,681 shares during the period.

Symbotic Stock Down 2.3%

Symbotic stock opened at $28.75 on Tuesday. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $42.45. The company’s 50 day moving average price is $22.64 and its two-hundred day moving average price is $25.54. The stock has a market cap of $16.95 billion, a P/E ratio of -410.66, a P/E/G ratio of 6.48 and a beta of 1.85.

Symbotic (NASDAQ:SYM) last posted its earnings results on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. The firm had revenue of $549.65 million for the quarter, compared to the consensus estimate of $522.36 million. During the same period in the prior year, the business earned ($0.07) EPS. Symbotic’s quarterly revenue was up 39.7% compared to the same quarter last year. On average, equities analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current year.

Insider Transactions at Symbotic

In other Symbotic news, CFO Carol J. Hibbard sold 4,628 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $22.62, for a total transaction of $104,685.36. Following the sale, the chief financial officer now owns 54,011 shares of the company’s stock, valued at $1,221,728.82. The trade was a 7.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Maria G. Freve sold 1,929 shares of the business’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $21.69, for a total transaction of $41,840.01. Following the sale, the insider now directly owns 2,646 shares in the company, valued at $57,391.74. The trade was a 42.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,447 shares of company stock worth $858,000 in the last quarter. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. The Goldman Sachs Group cut their target price on Symbotic from $25.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Citigroup dropped their price target on Symbotic from $37.00 to $29.00 and set a “buy” rating for the company in a research note on Monday, April 14th. UBS Group dropped their price target on Symbotic from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $60.00 price objective on shares of Symbotic in a report on Thursday, February 6th. Finally, Needham & Company LLC decreased their price target on Symbotic from $35.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $37.20.

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.