AlphaCentric Advisors LLC Purchases 5,000 Shares of Symbotic Inc. (NASDAQ:SYM)

AlphaCentric Advisors LLC grew its position in Symbotic Inc. (NASDAQ:SYM) by 25.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,000 shares of the company’s stock after acquiring an additional 5,000 shares during the quarter. AlphaCentric Advisors LLC’s holdings in Symbotic were worth $610,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. RiverPark Advisors LLC acquired a new stake in Symbotic during the first quarter valued at approximately $37,000. Essex Investment Management Co. LLC raised its stake in Symbotic by 11.3% during the first quarter. Essex Investment Management Co. LLC now owns 24,516 shares of the company’s stock worth $1,103,000 after acquiring an additional 2,490 shares in the last quarter. Retirement Planning Co of New England Inc. acquired a new position in Symbotic during the first quarter worth $754,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Symbotic in the 1st quarter valued at $366,000. Finally, Zevenbergen Capital Investments LLC grew its holdings in shares of Symbotic by 1,826.2% in the 1st quarter. Zevenbergen Capital Investments LLC now owns 361,167 shares of the company’s stock worth $16,253,000 after purchasing an additional 342,417 shares during the last quarter.

Insider Activity

In related news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $23.96, for a total transaction of $47,920.00. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at approximately $47,920. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Todd Krasnow sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $23.96, for a total transaction of $47,920.00. Following the sale, the director now owns 2,000 shares in the company, valued at approximately $47,920. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael David Dunn sold 1,715 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $28.77, for a total value of $49,340.55. Following the transaction, the insider now directly owns 87,922 shares of the company’s stock, valued at $2,529,515.94. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,057 shares of company stock worth $660,860 in the last quarter. Corporate insiders own 38.30% of the company’s stock.

Symbotic Stock Up 0.3 %

Shares of SYM stock opened at $28.53 on Tuesday. The company has a market capitalization of $16.71 billion, a price-to-earnings ratio of -150.16 and a beta of 1.81. Symbotic Inc. has a 12-month low of $17.11 and a 12-month high of $59.82. The firm has a fifty day moving average of $24.43 and a 200-day moving average of $31.65.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SYM shares. BWS Financial restated a “sell” rating and issued a $10.00 price target on shares of Symbotic in a research report on Friday, October 11th. Robert W. Baird dropped their price target on Symbotic from $53.00 to $41.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Craig Hallum reduced their price objective on Symbotic from $54.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Needham & Company LLC lowered their target price on Symbotic from $54.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Finally, The Goldman Sachs Group decreased their price objective on shares of Symbotic from $40.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $43.23.

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.