Prospera Financial Services Inc Acquires Shares of 22,168 Symbotic Inc. $SYM

Prospera Financial Services Inc acquired a new stake in Symbotic Inc. (NASDAQ:SYM) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 22,168 shares of the company’s stock, valued at approximately $861,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SYM. AdvisorNet Financial Inc purchased a new stake in Symbotic during the 2nd quarter valued at $32,000. Gables Capital Management Inc. bought a new position in Symbotic during the second quarter valued at $39,000. CWM LLC raised its stake in shares of Symbotic by 408.2% in the first quarter. CWM LLC now owns 2,602 shares of the company’s stock valued at $53,000 after acquiring an additional 2,090 shares during the period. AlphaQuest LLC raised its stake in shares of Symbotic by 318.5% in the first quarter. AlphaQuest LLC now owns 2,800 shares of the company’s stock valued at $57,000 after acquiring an additional 2,131 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Symbotic by 24.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,765 shares of the company’s stock worth $69,000 after acquiring an additional 342 shares during the last quarter.

Symbotic Stock Down 5.7%

Shares of NASDAQ:SYM opened at $59.52 on Friday. The business’s 50 day moving average is $63.17 and its 200 day moving average is $47.80. The stock has a market cap of $35.15 billion, a P/E ratio of -850.16, a price-to-earnings-growth ratio of 10.62 and a beta of 2.10. Symbotic Inc. has a 52-week low of $16.32 and a 52-week high of $84.00.

Insider Buying and Selling at Symbotic

In other Symbotic news, major shareholder Millennium Gst Non-Exempt Rbc sold 220,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $46.45, for a total transaction of $10,219,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Todd Krasnow sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $45.64, for a total transaction of $182,560.00. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 313,494 shares of company stock worth $16,178,374. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on SYM shares. Barclays began coverage on shares of Symbotic in a report on Tuesday, October 7th. They set an “underweight” rating and a $38.00 price target on the stock. Wall Street Zen raised Symbotic from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Oppenheimer raised their price target on Symbotic from $54.00 to $59.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Weiss Ratings restated a “hold (c-)” rating on shares of Symbotic in a report on Wednesday, October 8th. Finally, Arete lowered Symbotic from a “buy” rating to a “neutral” rating and set a $50.00 target price on the stock. in a research note on Friday, July 25th. Seven equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $44.61.

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.