Greenwood Gearhart Inc. Takes Position in Symbotic Inc. (NASDAQ:SYM)

Greenwood Gearhart Inc. acquired a new position in Symbotic Inc. (NASDAQ:SYM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 14,217 shares of the company's stock, valued at approximately $337,000.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in shares of Symbotic by 100.6% during the fourth quarter. JPMorgan Chase & Co. now owns 17,349 shares of the company's stock valued at $411,000 after acquiring an additional 3,110,075 shares during the period. Vanguard Group Inc. grew its position in Symbotic by 41.3% in the 4th quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company's stock worth $117,846,000 after purchasing an additional 1,452,627 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Symbotic during the fourth quarter valued at approximately $20,754,000. TCW Group Inc. grew its holdings in Symbotic by 51.7% in the 4th quarter. TCW Group Inc. now owns 582,955 shares of the company's stock worth $13,822,000 after buying an additional 198,681 shares in the last quarter. Finally, ARK Investment Management LLC bought a new stake in Symbotic during the 4th quarter valued at $4,506,000.

Insiders Place Their Bets

In other news, CFO Carol J. Hibbard sold 4,055 shares of the company's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $30.70, for a total transaction of $124,488.50. Following the completion of the sale, the chief financial officer now owns 44,386 shares in the company, valued at approximately $1,362,650.20. This represents a 8.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Todd Krasnow sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $17.51, for a total value of $35,020.00. Following the completion of the transaction, the director now directly owns 194,036 shares in the company, valued at $3,397,570.36. The trade was a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,663 shares of company stock valued at $1,653,063 in the last three months. Insiders own 0.60% of the company's stock.

Symbotic Stock Down 4.9 %

Shares of SYM traded down $1.00 during trading hours on Monday, reaching $19.41. The company's stock had a trading volume of 345,724 shares, compared to its average volume of 1,931,290. The firm has a market cap of $11.42 billion, a price-to-earnings ratio of -277.25, a P/E/G ratio of 6.48 and a beta of 1.86. The company has a 50 day moving average of $22.17 and a two-hundred day moving average of $26.26. Symbotic Inc. has a 1-year low of $16.32 and a 1-year high of $48.98.

Symbotic (NASDAQ:SYM - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. As a group, analysts forecast that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SYM has been the topic of a number of research analyst reports. BWS Financial reissued a "sell" rating and set a $10.00 price target on shares of Symbotic in a report on Wednesday, April 2nd. Raymond James lowered shares of Symbotic from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 6th. DA Davidson raised Symbotic from a "neutral" rating to a "buy" rating and set a $35.00 target price on the stock in a report on Wednesday, January 8th. Citigroup decreased their price target on Symbotic from $37.00 to $29.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Oppenheimer began coverage on Symbotic in a research note on Wednesday, January 15th. They issued an "outperform" rating and a $35.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $37.20.

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.