Legal & General Group Plc cut its stake in Symbotic Inc. (NASDAQ:SYM - Free Report) by 31.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 420,147 shares of the company's stock after selling 196,602 shares during the period. Legal & General Group Plc owned 0.07% of Symbotic worth $9,962,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of SYM. IFP Advisors Inc increased its holdings in Symbotic by 58.2% during the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock worth $32,000 after purchasing an additional 503 shares in the last quarter. Private Trust Co. NA purchased a new stake in shares of Symbotic during the 4th quarter valued at approximately $47,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Symbotic in the fourth quarter worth $47,000. Jones Financial Companies Lllp grew its position in shares of Symbotic by 154.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company's stock valued at $58,000 after purchasing an additional 1,490 shares in the last quarter. Finally, MCF Advisors LLC bought a new stake in shares of Symbotic during the 4th quarter valued at $85,000.
Analysts Set New Price Targets
Several research analysts have commented on SYM shares. DA Davidson upgraded Symbotic from a "neutral" rating to a "buy" rating and set a $35.00 target price for the company in a research note on Wednesday, January 8th. Needham & Company LLC lowered their target price on shares of Symbotic from $35.00 to $32.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Citigroup reduced their price target on shares of Symbotic from $37.00 to $29.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $60.00 price objective on shares of Symbotic in a research report on Thursday, February 6th. Finally, The Goldman Sachs Group reduced their target price on Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Symbotic has a consensus rating of "Hold" and a consensus price target of $37.20.
Check Out Our Latest Stock Analysis on SYM
Insider Activity at Symbotic
In other news, insider Michael David Dunn sold 3,635 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $33.28, for a total value of $120,972.80. Following the completion of the sale, the insider now directly owns 24,272 shares of the company's stock, valued at $807,772.16. This trade represents a 13.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rollin L. Ford sold 28,740 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $26.02, for a total value of $747,814.80. Following the transaction, the director now directly owns 10,447 shares in the company, valued at approximately $271,830.94. This represents a 73.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,663 shares of company stock valued at $1,653,063. 0.60% of the stock is owned by corporate insiders.
Symbotic Price Performance
Shares of NASDAQ SYM traded up $1.41 during mid-day trading on Wednesday, reaching $21.69. The company's stock had a trading volume of 319,958 shares, compared to its average volume of 1,926,992. The stock has a fifty day moving average of $21.83 and a two-hundred day moving average of $26.19. The firm has a market capitalization of $12.76 billion, a PE ratio of -309.81, a P/E/G ratio of 6.48 and a beta of 1.86. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $48.98.
Symbotic (NASDAQ:SYM - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. Analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current fiscal year.
Symbotic Company Profile
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Free Report)
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.
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