Vista Investment Partners LLC Reduces Holdings in Symbotic Inc. (NASDAQ:SYM)

Vista Investment Partners LLC lowered its position in Symbotic Inc. (NASDAQ:SYM) by 28.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 19,843 shares of the company’s stock after selling 8,056 shares during the quarter. Vista Investment Partners LLC’s holdings in Symbotic were worth $484,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SYM. RiverPark Advisors LLC purchased a new position in shares of Symbotic in the first quarter worth about $37,000. RFP Financial Group LLC grew 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 in the last quarter. Quarry LP bought a new stake in Symbotic during the 2nd quarter valued at $65,000. Natixis Investment Managers International purchased a new stake in shares of Symbotic during the first quarter worth $90,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Symbotic by 109.5% in the second quarter. Van ECK Associates Corp now owns 2,723 shares of the company’s stock worth $96,000 after acquiring an additional 1,423 shares during the period.

Symbotic Trading Up 1.9 %

Shares of Symbotic stock opened at $29.38 on Friday. The business’s 50-day moving average price is $22.94 and its 200-day moving average price is $33.02. The firm has a market capitalization of $17.20 billion, a PE ratio of -154.63 and a beta of 1.84. Symbotic Inc. has a 12 month low of $17.11 and a 12 month high of $59.82.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Monday, July 29th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.04). Symbotic had a positive return on equity of 4.08% and a negative net margin of 1.03%. The business had revenue of $491.86 million for the quarter, compared to analysts’ expectations of $464.56 million. During the same period last year, the business posted ($0.07) earnings per share. The company’s revenue was up 57.7% compared to the same quarter last year. As a group, analysts predict that Symbotic Inc. will post -0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Citigroup decreased their price objective on Symbotic from $62.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Robert W. Baird lowered their price target on shares of Symbotic from $53.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Symbotic from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a research note on Friday, October 11th. Finally, Needham & Company LLC reduced their price target on shares of Symbotic from $54.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $43.23.

Insider Buying and Selling

In other news, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.75, for a total transaction of $37,500.00. Following the transaction, the director now directly owns 214,036 shares of the company’s stock, valued at approximately $4,013,175. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider William M. Boyd III sold 8,826 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $38.71, for a total transaction of $341,654.46. Following the completion of the sale, the insider now directly owns 23,012 shares in the company, valued at $890,794.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.75, for a total transaction of $37,500.00. Following the completion of the sale, the director now directly owns 214,036 shares in the company, valued at approximately $4,013,175. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,987 shares of company stock worth $986,559 in the last 90 days. 38.30% of the stock is owned by company insiders.

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.