Register Financial Advisors LLC Sells 23,475 Shares of Symbotic Inc. $SYM

Register Financial Advisors LLC reduced its holdings in shares of Symbotic Inc. (NASDAQ:SYM) by 23.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,242 shares of the company’s stock after selling 23,475 shares during the period. Symbotic accounts for approximately 1.6% of Register Financial Advisors LLC’s investment portfolio, making the stock its 9th biggest holding. Register Financial Advisors LLC’s holdings in Symbotic were worth $4,163,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in SYM. AdvisorNet Financial Inc bought a new stake in shares of Symbotic during the 2nd quarter valued at about $32,000. IAG Wealth Partners LLC acquired a new position in shares of Symbotic during the 2nd quarter valued at $32,000. Gables Capital Management Inc. bought a new position in Symbotic during the second quarter worth $39,000. NewEdge Advisors LLC boosted its stake in Symbotic by 81.5% during the second quarter. NewEdge Advisors LLC now owns 1,276 shares of the company’s stock worth $50,000 after acquiring an additional 573 shares in the last quarter. Finally, KBC Group NV acquired a new stake in Symbotic in the second quarter worth $66,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SYM shares. Robert W. Baird increased their price objective on shares of Symbotic from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Citigroup increased their price target on Symbotic from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Zacks Research raised Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. UBS Group reaffirmed a “sell” rating and set a $35.00 target price (up from $27.00) on shares of Symbotic in a research report on Tuesday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Symbotic from $55.00 to $63.00 and gave the stock a “hold” rating in a report on Tuesday, November 25th. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $56.79.

Symbotic Trading Down 6.4%

Shares of NASDAQ:SYM opened at $63.12 on Wednesday. The stock has a market cap of $37.34 billion, a PE ratio of -420.80, a price-to-earnings-growth ratio of 19.12 and a beta of 2.13. The stock’s fifty day simple moving average is $64.33 and its two-hundred day simple moving average is $59.68. Symbotic Inc. has a 1-year low of $16.32 and a 1-year high of $87.88.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, November 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). Symbotic had a negative return on equity of 3.89% and a negative net margin of 0.75%.The firm had revenue of $618.46 million during the quarter, compared to the consensus estimate of $604.00 million. During the same period in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, sell-side analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Insider Activity at Symbotic

In related news, insider William M. Boyd III sold 15,000 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $69.00, for a total transaction of $1,035,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Merline Saintil sold 9,000 shares of the business’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $84.72, for a total transaction of $762,480.00. Following the completion of the transaction, the director owned 68,413 shares in the company, valued at approximately $5,795,949.36. The trade was a 11.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 7,066,463 shares of company stock valued at $377,427,267 in the last 90 days. 0.60% of the stock is currently owned by company insiders.

Symbotic Profile

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.