Quent Capital LLC cut its holdings in Symbotic Inc. (NASDAQ:SYM – Free Report) by 7.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,300 shares of the company’s stock after selling 1,200 shares during the quarter. Quent Capital LLC’s holdings in Symbotic were worth $612,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of Symbotic by 1,412.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,512 shares of the company’s stock valued at $35,000 after acquiring an additional 1,412 shares during the period. Rockefeller Capital Management L.P. acquired a new position in shares of Symbotic during the fourth quarter valued at about $29,000. Arcadia Investment Management Corp MI bought a new position in shares of Symbotic during the 1st quarter worth about $58,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Symbotic in the 1st quarter valued at about $87,000. Finally, SG Americas Securities LLC bought a new stake in Symbotic in the 2nd quarter valued at about $166,000.
Symbotic Price Performance
NASDAQ SYM traded down $0.78 during trading on Friday, reaching $31.85. The company’s stock had a trading volume of 1,606,269 shares, compared to its average volume of 878,381. The firm has a fifty day moving average of $42.97 and a 200 day moving average of $34.48. Symbotic Inc. has a one year low of $8.75 and a one year high of $64.14. The stock has a market capitalization of $17.70 billion, a PE ratio of -81.67 and a beta of 1.67.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on SYM. Raymond James increased their price target on Symbotic from $35.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday, August 1st. TD Cowen boosted their price target on shares of Symbotic from $33.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. Needham & Company LLC boosted their price objective on Symbotic from $43.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, July 31st. The Goldman Sachs Group dropped their target price on Symbotic from $53.00 to $41.00 and set a “neutral” rating on the stock in a report on Monday, September 4th. Finally, UBS Group lowered Symbotic from a “buy” rating to a “neutral” rating and increased their price target for the company from $34.00 to $40.00 in a research report on Thursday, June 29th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.
In related news, major shareholder Svf Ii Spac Investment 3 (De) bought 17,825,312 shares of the business’s stock in a transaction that occurred on Sunday, July 23rd. The stock was bought at an average cost of $28.05 per share, for a total transaction of $500,000,001.60. Following the completion of the transaction, the insider now owns 17,825,312 shares of the company’s stock, valued at $500,000,001.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Svf Ii Spac Investment 3 (De) bought 17,825,312 shares of the company’s stock in a transaction that occurred on Sunday, July 23rd. The stock was bought at an average price of $28.05 per share, for a total transaction of $500,000,001.60. Following the transaction, the insider now directly owns 17,825,312 shares of the company’s stock, valued at approximately $500,000,001.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael David Dunn sold 5,375 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $41.32, for a total value of $222,095.00. Following the completion of the sale, the insider now directly owns 88,508 shares of the company’s stock, valued at approximately $3,657,150.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,148,357 shares of company stock worth $514,086,938. 41.00% of the stock is currently owned by corporate insiders.
Symbotic Company Profile
Symbotic Inc, an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. The company offers Symbotic system, an end-to-end warehouse automation system for product distribution. It also designs, assemblies, and installs modular inventory management systems and performs configuration of embedded software.
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