Baillie Gifford & Co. Lowers Stock Position in Symbotic Inc. $SYM

Key Points

• Baillie Gifford trimmed its position in Symbotic by 1.9% in Q4, selling 242,739 shares and leaving it with 12,441,000 shares (2.10% of the company) valued at about $740.24 million.
• Company insiders have been net sellers — 178,492 shares worth $10.31 million were sold over the past 90 days, including a 60,000‑share sale by director Rollin L. Ford for $3.45 million.
• Symbotic recently missed EPS ($0.02 vs. $0.08 est.) but beat revenue ($629.99M vs. $622.58M) with 29.4% YoY revenue growth, and analysts hold a consensus rating of “Hold” with a $64.62 average price target.

Baillie Gifford & Co. cut its holdings in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,441,000 shares of the company's stock after selling 242,739 shares during the period. Baillie Gifford & Co. owned 2.10% of Symbotic worth $740,239,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Symbotic in the 3rd quarter worth $34,296,000. Franklin Resources Inc. lifted its position in Symbotic by 3,188.8% in the third quarter. Franklin Resources Inc. now owns 274,155 shares of the company's stock valued at $14,777,000 after purchasing an additional 265,819 shares during the period. Handelsbanken Fonder AB boosted its holdings in Symbotic by 626.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 274,178 shares of the company's stock valued at $14,778,000 after purchasing an additional 236,435 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in Symbotic in the 3rd quarter valued at approximately $12,377,000. Finally, UBS Group AG increased its position in Symbotic by 22.3% during the 3rd quarter. UBS Group AG now owns 1,105,770 shares of the company's stock worth $59,601,000 after purchasing an additional 201,547 shares during the period.

Wall Street Analyst Weigh In

SYM has been the subject of several recent analyst reports. The Goldman Sachs Group reissued a "sell" rating and issued a $50.00 price target on shares of Symbotic in a report on Thursday, January 15th. UBS Group set a $70.00 price objective on Symbotic in a report on Wednesday, February 18th. Needham & Company LLC increased their price objective on Symbotic from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, February 5th. Citigroup reissued an "outperform" rating on shares of Symbotic in a report on Thursday, February 5th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Symbotic in a research report on Thursday, January 22nd. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, Symbotic currently has an average rating of "Hold" and a consensus price target of $64.62.

Insider Buying and Selling at Symbotic

In other news, Director Todd Krasnow sold 4,000 shares of Symbotic stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $53.73, for a total transaction of $214,920.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rollin L. Ford sold 60,000 shares of Symbotic stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $57.51, for a total value of $3,450,600.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 178,492 shares of company stock worth $10,313,214. Insiders own 8.16% of the company's stock.

Symbotic Price Performance

NASDAQ:SYM opened at $53.83 on Monday. The company has a market capitalization of $32.41 billion, a PE ratio of -538.25, a price-to-earnings-growth ratio of 5.40 and a beta of 2.10. Symbotic Inc. has a 52-week low of $19.14 and a 52-week high of $87.88. The stock has a fifty day simple moving average of $53.61 and a 200-day simple moving average of $61.17.

Symbotic (NASDAQ:SYM - Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.06). The firm had revenue of $629.99 million for the quarter, compared to analyst estimates of $622.58 million. Symbotic had a negative return on equity of 1.88% and a negative net margin of 0.45%.The company's quarterly revenue was up 29.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.03) EPS. As a group, equities analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current year.

Symbotic Profile

Symbotic Inc NASDAQ: SYM is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.

Want to see what other hedge funds are holding SYM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Symbotic Inc. (NASDAQ:SYM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.