Symbotic Inc. (NASDAQ:SYM) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. decreased its position in Symbotic Inc. (NASDAQ:SYM - Free Report) by 18.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,340 shares of the company's stock after selling 12,950 shares during the period. Baird Financial Group Inc.'s holdings in Symbotic were worth $1,383,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. IFP Advisors Inc grew its stake in shares of Symbotic by 58.2% during the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock valued at $32,000 after purchasing an additional 503 shares during the period. Private Trust Co. NA purchased a new stake in shares of Symbotic during the 4th quarter worth approximately $47,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Symbotic during the 4th quarter worth approximately $47,000. Jones Financial Companies Lllp raised its holdings in Symbotic by 154.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company's stock valued at $58,000 after buying an additional 1,490 shares during the period. Finally, MCF Advisors LLC purchased a new stake in Symbotic during the 4th quarter valued at $85,000.

Symbotic Stock Up 2.7%

Shares of NASDAQ:SYM traded up $0.73 during trading on Friday, hitting $27.67. The stock had a trading volume of 1,267,815 shares, compared to its average volume of 1,918,089. Symbotic Inc. has a 12-month low of $16.32 and a 12-month high of $46.08. The stock has a market capitalization of $16.28 billion, a price-to-earnings ratio of -395.23, a price-to-earnings-growth ratio of 6.48 and a beta of 1.85. The stock has a 50-day simple moving average of $21.67 and a two-hundred day simple moving average of $25.69.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). The firm had revenue of $549.65 million during the quarter, compared to analysts' expectations of $522.36 million. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. The company's revenue for the quarter was up 39.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.07) earnings per share. As a group, sell-side analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current year.

Insider Activity at Symbotic

In other news, CFO Carol J. Hibbard sold 4,628 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $22.62, for a total value of $104,685.36. Following the completion of the sale, the chief financial officer now directly owns 54,011 shares in the company, valued at $1,221,728.82. The trade was a 7.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Todd Krasnow sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $27.32, for a total value of $54,640.00. Following the completion of the sale, the director now owns 194,036 shares of the company's stock, valued at $5,301,063.52. This trade represents a 1.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,847 shares of company stock worth $1,733,870. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on SYM. UBS Group cut their price objective on Symbotic from $32.00 to $30.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. Raymond James downgraded Symbotic from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 6th. The Goldman Sachs Group dropped their price target on Symbotic from $25.00 to $18.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Cantor Fitzgerald reissued an "overweight" rating and set a $60.00 price target on shares of Symbotic in a research report on Thursday, February 6th. Finally, Needham & Company LLC dropped their price objective on Symbotic from $35.00 to $32.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. 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 company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus 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.