Symbotic Inc. (NASDAQ:SYM) Stock Position Raised by Baillie Gifford & Co.

Baillie Gifford & Co. increased its position in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 32.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,070,999 shares of the company's stock after buying an additional 3,410,050 shares during the period. Baillie Gifford & Co. owned about 2.40% of Symbotic worth $343,192,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Symbotic by 16.6% in the first quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company's stock valued at $109,189,000 after purchasing an additional 345,386 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in Symbotic by 76.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 873,987 shares of the company's stock worth $21,317,000 after acquiring an additional 379,726 shares during the period. Canada Pension Plan Investment Board lifted its position in Symbotic by 191.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company's stock worth $27,281,000 after acquiring an additional 509,700 shares during the period. Raymond James & Associates lifted its position in Symbotic by 8.4% during the 2nd quarter. Raymond James & Associates now owns 668,103 shares of the company's stock worth $23,491,000 after acquiring an additional 51,712 shares during the period. Finally, Millennium Management LLC lifted its position in Symbotic by 6,694.5% during the 2nd quarter. Millennium Management LLC now owns 335,649 shares of the company's stock worth $11,801,000 after acquiring an additional 330,709 shares during the period.

Insiders Place Their Bets

In other news, CFO Carol J. Hibbard sold 22,821 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $28.96, for a total transaction of $660,896.16. Following the completion of the sale, the chief financial officer now owns 34,188 shares in the company, valued at approximately $990,084.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Symbotic news, CFO Carol J. Hibbard sold 22,821 shares of Symbotic stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $28.96, for a total value of $660,896.16. Following the completion of the sale, the chief financial officer now directly owns 34,188 shares of the company's stock, valued at approximately $990,084.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Merline Saintil sold 5,250 shares of Symbotic stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $28.70, for a total transaction of $150,675.00. Following the completion of the transaction, the director now owns 74,562 shares in the company, valued at approximately $2,139,929.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,878 shares of company stock valued at $1,378,056. 38.30% of the stock is currently owned by insiders.

Symbotic Stock Performance

Shares of Symbotic stock traded down $0.76 during trading hours on Tuesday, reaching $34.14. 386,861 shares of the company were exchanged, compared to its average volume of 1,566,928. Symbotic Inc. has a 1 year low of $17.11 and a 1 year high of $59.82. The stock's fifty day moving average is $25.69 and its 200 day moving average is $31.39. The firm has a market cap of $19.99 billion, a PE ratio of -183.68 and a beta of 1.81.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SYM. KeyCorp decreased their price objective on Symbotic from $55.00 to $40.00 and set an "overweight" rating for the company in a report on Tuesday, July 30th. Vertical Research started coverage on Symbotic in a research note on Tuesday, July 23rd. They set a "hold" rating and a $45.00 price objective for the company. Needham & Company LLC cut their price objective on Symbotic from $54.00 to $40.00 and set a "buy" rating for the company in a research note on Tuesday, July 30th. The Goldman Sachs Group cut their price objective on Symbotic from $40.00 to $30.00 and set a "neutral" rating for the company in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Symbotic from $58.00 to $59.00 and gave the stock a "buy" rating in a research note on Tuesday, July 30th. One equities 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $43.23.

Symbotic 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.