Zevenbergen Capital Investments LLC lessened its stake in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 6.9% during the 4th quarter, according to its most recent disclosure with the SEC. 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 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of SYM. Vanguard Group Inc. grew its position in shares of Symbotic by 41.3% in the 4th quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company's stock valued at $117,846,000 after acquiring an additional 1,452,627 shares during the period. Raymond James Financial Inc. bought a new stake in Symbotic in the 4th quarter valued at $20,754,000. Thematics Asset Management lifted its holdings in Symbotic by 30.1% during the 3rd quarter. Thematics Asset Management now owns 1,048,170 shares of the company's stock valued at $25,565,000 after purchasing an additional 242,661 shares during the last quarter. TCW Group Inc. boosted its position in Symbotic by 51.7% during the fourth quarter. TCW Group Inc. now owns 582,955 shares of the company's stock worth $13,822,000 after purchasing an additional 198,681 shares during the period. Finally, ARK Investment Management LLC bought a new position in shares of Symbotic in the fourth quarter valued at about $4,506,000.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on SYM shares. Needham & Company LLC dropped their target price on Symbotic from $35.00 to $32.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Cantor Fitzgerald reissued an "overweight" rating and issued a $60.00 price objective on shares of Symbotic in a report on Thursday, February 6th. DA Davidson raised shares of 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. The Goldman Sachs Group dropped their price target on shares of Symbotic from $28.00 to $25.00 and set a "neutral" rating for the company in a research report on Thursday, February 6th. Finally, William Blair reissued a "market perform" rating on shares of Symbotic in a research 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 issued a buy rating to the stock. According to data from MarketBeat, Symbotic presently has a consensus rating of "Hold" and an average target price of $38.20.
Get Our Latest Research Report on Symbotic
Symbotic Trading Down 6.3 %
Symbotic stock traded down $1.35 during midday trading on Friday, reaching $20.16. The company's stock had a trading volume of 1,619,634 shares, compared to its average volume of 1,894,807. The stock has a market cap of $11.86 billion, a PE ratio of -287.96, a price-to-earnings-growth ratio of 6.48 and a beta of 1.85. Symbotic Inc. has a 52 week low of $17.11 and a 52 week high of $48.98. The business has a 50-day moving average price of $25.53 and a 200-day moving average price of $26.62.
Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating 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, research analysts predict that Symbotic Inc. will post 0.13 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, insider William M. Boyd III sold 2,455 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $22.31, for a total value of $54,771.05. Following the transaction, the insider now owns 39,659 shares in the company, valued at approximately $884,792.29. The trade was a 5.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Todd Krasnow sold 2,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $24.04, for a total transaction of $48,080.00. Following the sale, the director now owns 214,036 shares of the company's stock, valued at approximately $5,145,425.44. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,442 shares of company stock valued at $2,120,023. 0.60% of the stock is currently owned by company insiders.
Symbotic Profile
(
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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