Zevenbergen Capital Investments LLC Lowers Stock Position in Symbotic Inc. (NASDAQ:SYM)

Zevenbergen Capital Investments LLC lessened its position in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 6.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 733,436 shares of the company's stock after selling 54,656 shares during the period. Zevenbergen Capital Investments LLC owned about 0.12% of Symbotic worth $17,390,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Congress Wealth Management LLC DE bought a new position in shares of Symbotic during the 4th quarter worth approximately $356,000. Vanguard Group Inc. grew its position in Symbotic by 41.3% in the fourth quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company's stock valued at $117,846,000 after purchasing an additional 1,452,627 shares in the last quarter. LPL Financial LLC lifted its position in Symbotic by 31.5% during the 4th quarter. LPL Financial LLC now owns 43,167 shares of the company's stock worth $1,023,000 after buying an additional 10,341 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Symbotic in the fourth quarter valued at about $194,000. Finally, Sei Investments Co. bought a new stake in Symbotic during the fourth quarter worth about $1,383,000.

Analysts Set New Price Targets

SYM has been the topic of several analyst reports. The Goldman Sachs Group dropped their price target on shares of Symbotic from $28.00 to $25.00 and set a "neutral" rating on the stock in a research report on Thursday, February 6th. Raymond James cut shares of Symbotic from an "outperform" rating to a "market perform" rating in a report on Thursday, February 6th. TD Cowen lifted their price target on Symbotic from $43.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Cantor Fitzgerald restated an "overweight" rating and issued a $60.00 price target on shares of Symbotic in a research note on Thursday, February 6th. Finally, William Blair reaffirmed a "market perform" rating on shares of Symbotic in a report on Thursday, December 5th. 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, Symbotic currently has an average rating of "Hold" and a consensus target price of $38.20.

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Symbotic Trading Down 0.5 %

NASDAQ SYM traded down $0.12 on Tuesday, hitting $23.38. 813,907 shares of the company were exchanged, compared to its average volume of 1,885,435. The company has a market cap of $13.76 billion, a PE ratio of -333.95, a PEG ratio of 6.48 and a beta of 1.85. The stock has a fifty day moving average of $26.06 and a 200-day moving average of $26.64. Symbotic Inc. has a 12 month low of $17.11 and a 12 month high of $50.26.

Symbotic (NASDAQ:SYM - Get Free Report) last released its quarterly earnings data 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%. On average, analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current year.

Insider Activity

In related news, insider Michael David Dunn sold 5,365 shares of the firm's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $24.60, for a total value of $131,979.00. Following the transaction, the insider now owns 31,860 shares of the company's stock, valued at approximately $783,756. This trade represents a 14.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rollin L. Ford sold 28,740 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $26.02, for a total value of $747,814.80. Following the sale, the director now directly owns 10,447 shares of the company's stock, valued at $271,830.94. This represents a 73.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,442 shares of company stock worth $2,120,023 over the last quarter. 0.60% of the stock is currently owned by corporate insiders.

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.