Ensign Peak Advisors Inc Has $1.36 Million Stake in Symbotic Inc. (NASDAQ:SYM)

Ensign Peak Advisors Inc lowered its holdings in Symbotic Inc. (NASDAQ:SYM - Free Report) by 72.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. 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 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Walmart Inc. acquired a new stake in Symbotic during the fourth quarter worth about $355,650,000. Vanguard Group Inc. grew its stake in Symbotic by 41.3% during the 4th 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 last quarter. Raymond James Financial Inc. bought a new stake in Symbotic in the fourth quarter valued at $20,754,000. Invesco Ltd. grew its position in shares of Symbotic by 25.9% during the fourth quarter. Invesco Ltd. now owns 727,890 shares of the company's stock worth $17,258,000 after acquiring an additional 149,918 shares during the last quarter. Finally, TCW Group Inc. boosted its stake in Symbotic by 51.7% during the 4th quarter. TCW Group Inc. now owns 582,955 shares of the company's stock valued at $13,822,000 after purchasing an additional 198,681 shares during the period.

Symbotic Stock Performance

Shares of NASDAQ SYM traded up $1.34 during mid-day trading on Thursday, reaching $28.08. The company had a trading volume of 320,178 shares, compared to its average volume of 1,913,761. The company has a market capitalization of $16.56 billion, a price-to-earnings ratio of -401.51, a PEG ratio of 6.48 and a beta of 1.85. The stock has a fifty day moving average of $22.19 and a two-hundred day moving average of $25.66. Symbotic Inc. has a 12-month low of $16.32 and a 12-month high of $44.08.

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). Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. The firm had revenue of $549.65 million for the quarter, compared to analysts' expectations of $522.36 million. During the same quarter in the prior year, the business posted ($0.07) earnings per share. Symbotic's revenue was up 39.7% on a year-over-year basis. Sell-side analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on SYM shares. BWS Financial reaffirmed a "sell" rating and set a $10.00 target price on shares of Symbotic in a research note on Wednesday, April 2nd. Needham & Company LLC dropped their price target on shares of Symbotic from $35.00 to $32.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. The Goldman Sachs Group reduced their price target on shares of Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Raymond James lowered Symbotic from an "outperform" rating to a "market perform" rating in a report on Thursday, February 6th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $60.00 price target on shares of Symbotic in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $37.20.

Insider Buying and Selling

In related news, Director Todd Krasnow sold 4,060 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $26.40, for a total value of $107,184.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael David Dunn sold 2,040 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $22.24, for a total value of $45,369.60. Following the completion of the sale, the insider now owns 23,822 shares of the company's stock, valued at approximately $529,801.28. This trade represents a 7.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,447 shares of company stock worth $858,000. Insiders own 0.60% of the company's stock.

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.