Ensign Peak Advisors Inc Sells 149,983 Shares of Symbotic Inc. (NASDAQ:SYM)

Ensign Peak Advisors Inc decreased its position in Symbotic Inc. (NASDAQ:SYM - Free Report) by 72.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 57,507 shares of the company's stock after selling 149,983 shares during the period. Ensign Peak Advisors Inc's holdings in Symbotic were worth $1,363,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SYM. Walmart Inc. acquired a new stake in shares of Symbotic during the fourth quarter worth $355,650,000. JPMorgan Chase & Co. lifted its stake in Symbotic by 100.6% during the fourth quarter. JPMorgan Chase & Co. now owns 17,349 shares of the company's stock valued at $411,000 after buying an additional 3,110,075 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Symbotic by 41.3% in the fourth quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company's stock worth $117,846,000 after buying an additional 1,452,627 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Symbotic during the fourth quarter valued at approximately $20,754,000. Finally, Hood River Capital Management LLC purchased a new stake in shares of Symbotic in the 4th quarter valued at approximately $5,704,000.

Insider Buying and Selling at Symbotic

In other Symbotic news, CFO Carol J. Hibbard sold 4,628 shares of Symbotic stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $22.62, for a total transaction of $104,685.36. Following the sale, the chief financial officer now 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 at this link. Also, insider William M. Boyd III sold 2,455 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $22.31, for a total transaction of $54,771.05. Following the transaction, the insider now directly owns 39,659 shares of the company's stock, valued at $884,792.29. The trade was a 5.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,187 shares of company stock valued at $1,605,814 in the last ninety days. Company insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SYM shares. BWS Financial restated a "sell" rating and issued a $10.00 target price on shares of Symbotic in a report on Wednesday, April 2nd. Needham & Company LLC cut their target price on shares of Symbotic from $35.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. The Goldman Sachs Group lowered their price target on shares of Symbotic from $25.00 to $18.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. UBS Group cut their price objective on Symbotic from $32.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. Finally, Raymond James downgraded Symbotic from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $37.20.

Symbotic Stock Down 0.2%

SYM stock traded down $0.06 during mid-day trading on Tuesday, reaching $28.24. 599,160 shares of the stock traded hands, compared to its average volume of 1,914,201. The business has a 50-day moving average of $21.94 and a two-hundred day moving average of $25.63. The firm has a market capitalization of $16.62 billion, a PE ratio of -403.37, a P/E/G ratio of 6.48 and a beta of 1.85. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $44.08.

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). 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 analyst estimates of $522.36 million. During the same period last year, the business earned ($0.07) EPS. The business's quarterly revenue was up 39.7% compared to the same quarter last year. On average, equities research analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

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.