Symbotic Inc. (NASDAQ:SYM) Shares Sold by Bosun Asset Management LLC

Bosun Asset Management LLC lessened its stake in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 53.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,561 shares of the company's stock after selling 11,000 shares during the period. Bosun Asset Management LLC's holdings in Symbotic were worth $227,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. IFP Advisors Inc grew its position in Symbotic by 58.2% during the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock worth $32,000 after purchasing an additional 503 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Symbotic by 1.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 48,672 shares of the company's stock valued at $1,154,000 after acquiring an additional 619 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Symbotic by 40.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,566 shares of the company's stock valued at $85,000 after acquiring an additional 1,018 shares during the period. Geode Capital Management LLC lifted its position in Symbotic by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 505,114 shares of the company's stock worth $11,981,000 after acquiring an additional 1,356 shares during the period. Finally, Jones Financial Companies Lllp grew its stake 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 purchasing an additional 1,490 shares during the last quarter.

Insider Transactions at Symbotic

In other news, insider Maria G. Freve sold 1,929 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $21.69, for a total transaction of $41,840.01. Following the completion of the sale, the insider now owns 2,646 shares in the company, valued at $57,391.74. This trade represents a 42.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Todd Krasnow sold 2,000 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $17.51, for a total value of $35,020.00. Following the completion of the transaction, the director now owns 194,036 shares in the company, valued at $3,397,570.36. This represents a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,294 shares of company stock worth $1,752,581 in the last ninety days. Insiders own 0.60% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Raymond James downgraded shares of Symbotic from an "outperform" rating to a "market perform" rating in a report on Thursday, February 6th. BWS Financial reiterated a "sell" rating and set a $10.00 price objective on shares of Symbotic in a research note on Wednesday, April 2nd. Northland Securities boosted their price objective on Symbotic from $35.00 to $41.00 and gave the company an "outperform" rating in a report on Friday, January 17th. Needham & Company LLC dropped their target price on Symbotic from $35.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Finally, Citigroup decreased their price target on Symbotic from $37.00 to $29.00 and set a "buy" rating for the company in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $37.20.

Symbotic Stock Performance

Shares of NASDAQ:SYM traded up $0.81 during trading on Friday, reaching $24.75. The stock had a trading volume of 1,218,214 shares, compared to its average volume of 1,917,030. Symbotic Inc. has a 1-year low of $16.32 and a 1-year high of $47.42. The stock has a market cap of $14.56 billion, a PE ratio of -353.52, a PEG ratio of 6.48 and a beta of 1.85. The business has a fifty day moving average price of $21.30 and a 200-day moving average price of $25.73.

Symbotic (NASDAQ:SYM - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.09). The business had revenue of $549.65 million for 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%. Symbotic's quarterly revenue was up 39.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.07) EPS. Sell-side analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current year.

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.