Balyasny Asset Management L.P. Sells 332,140 Shares of Symbotic Inc. (NASDAQ:SYM)

Balyasny Asset Management L.P. trimmed its position in Symbotic Inc. (NASDAQ:SYM - Free Report) by 90.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 36,048 shares of the company's stock after selling 332,140 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Symbotic were worth $855,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bayesian Capital Management LP acquired a new position in Symbotic in the 4th quarter valued at about $218,000. Walmart Inc. acquired a new position in shares of Symbotic during the 4th quarter worth approximately $355,650,000. PDT Partners LLC bought a new stake in shares of Symbotic during the 4th quarter worth approximately $1,127,000. Northern Trust Corp lifted its holdings in shares of Symbotic by 23.7% during the 4th quarter. Northern Trust Corp now owns 110,148 shares of the company's stock worth $2,612,000 after acquiring an additional 21,077 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Symbotic during the 4th quarter worth approximately $1,053,000.

Symbotic Stock Performance

Shares of Symbotic stock traded up $0.73 during trading hours on Friday, reaching $27.67. The company's stock had a trading volume of 1,267,815 shares, compared to its average volume of 1,922,042. Symbotic Inc. has a one year low of $16.32 and a one year high of $44.08. The company has a market capitalization of $16.28 billion, a P/E ratio of -395.23, a P/E/G ratio of 6.48 and a beta of 1.85. The stock's fifty day simple moving average is $21.80 and its two-hundred day simple moving average is $25.65.

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

Insider Buying and Selling at Symbotic

In related news, Director Rollin L. Ford sold 28,740 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $26.02, for a total transaction of $747,814.80. Following the transaction, the director now directly owns 10,447 shares of the company's stock, valued at $271,830.94. This trade represents a 73.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider William M. Boyd III sold 2,660 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $27.60, for a total transaction of $73,416.00. Following the transaction, the insider now directly owns 40,812 shares in the company, valued at $1,126,411.20. The trade was a 6.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,847 shares of company stock valued at $1,733,870. Corporate insiders own 0.60% of the company's stock.

Analyst Ratings Changes

SYM has been the subject of several research reports. Citigroup dropped their price objective on shares of Symbotic from $37.00 to $29.00 and set a "buy" rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group decreased their price objective on shares of Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Cantor Fitzgerald restated an "overweight" rating and issued a $60.00 price target on shares of Symbotic in a report on Thursday, February 6th. Needham & Company LLC reduced their price target on shares of Symbotic from $35.00 to $32.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Finally, BWS Financial restated a "sell" rating and issued a $10.00 price target on shares of Symbotic in a report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Symbotic currently has a consensus rating of "Hold" and an average 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.