Next Century Growth Investors LLC trimmed its holdings in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 70.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,582 shares of the company's stock after selling 107,343 shares during the period. Next Century Growth Investors LLC's holdings in Symbotic were worth $1,081,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of SYM. IFP Advisors Inc raised its position in Symbotic by 58.2% in the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock worth $32,000 after acquiring an additional 503 shares in the last quarter. Private Trust Co. NA acquired a new position in shares of Symbotic during the 4th quarter worth $47,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Symbotic in the fourth quarter valued at about $47,000. Jones Financial Companies Lllp grew its position in Symbotic by 154.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company's stock worth $58,000 after buying an additional 1,490 shares during the period. Finally, MCF Advisors LLC purchased a new stake in shares of Symbotic during the 4th quarter worth approximately $85,000.
Symbotic Stock Performance
NASDAQ SYM traded up $0.35 during trading hours on Tuesday, hitting $20.76. 989,252 shares of the company's stock were exchanged, compared to its average volume of 1,934,543. The firm has a market capitalization of $12.22 billion, a P/E ratio of -296.53, a price-to-earnings-growth ratio of 6.48 and a beta of 1.86. The business's 50 day moving average is $22.72 and its 200-day moving average is $26.35. Symbotic Inc. has a 12-month low of $16.32 and a 12-month high of $48.98.
Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate 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, equities research analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current fiscal year.
Analyst Ratings Changes
SYM has been the subject of several research analyst reports. Needham & Company LLC dropped their price objective on Symbotic from $35.00 to $32.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. UBS Group cut their price target on Symbotic from $32.00 to $30.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. The Goldman Sachs Group decreased their price objective on shares of Symbotic from $25.00 to $18.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. DA Davidson upgraded shares of Symbotic from a "neutral" rating to a "buy" rating and set a $35.00 target price for the company in a report on Wednesday, January 8th. Finally, Citigroup reduced their price target on shares of Symbotic from $37.00 to $29.00 and set a "buy" rating on the stock in a report on Monday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $37.20.
Check Out Our Latest Analysis on Symbotic
Insider Activity
In other news, insider Michael David Dunn sold 1,971 shares of the business's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $30.00, for a total transaction of $59,130.00. Following the completion of the sale, the insider now owns 22,301 shares in the company, valued at approximately $669,030. The trade was a 8.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Carol J. Hibbard sold 4,055 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $30.70, for a total transaction of $124,488.50. Following the sale, the chief financial officer now directly owns 44,386 shares of the company's stock, valued at approximately $1,362,650.20. This trade represents a 8.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,117 shares of company stock valued at $2,020,354 in the last ninety days. Company insiders own 0.60% of the company's stock.
About Symbotic
(
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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