SG Americas Securities LLC Sells 64,976 Shares of Symbotic Inc. $SYM

Key Points

• SG Americas Securities LLC cut its stake in Symbotic by 87.9%, selling 64,976 shares in Q4 and leaving 8,980 shares valued at about $534,000.
• Insider selling has been notable: directors Charles Kane and Todd Krasnow each sold 2,000 shares under Rule 10b5‑1 plans, and insiders have offloaded 178,492 shares worth $10.3M in the last 90 days while owning 8.16% of the company.
• Symbotic reported Q4 revenue of $629.99M (up 29.4% YoY) beating estimates but missed on EPS ($0.02 vs. $0.08), and analysts have an average "Hold" rating with a $64.62 price target.

SG Americas Securities LLC lowered its position in Symbotic Inc. (NASDAQ:SYM - Free Report) by 87.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,980 shares of the company's stock after selling 64,976 shares during the quarter. SG Americas Securities LLC's holdings in Symbotic were worth $534,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Symbotic by 2.1% in the third quarter. Vanguard Group Inc. now owns 4,695,021 shares of the company's stock worth $253,062,000 after purchasing an additional 98,384 shares in the last quarter. UBS Group AG grew its stake in Symbotic by 22.3% in the third 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 in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Symbotic in the third quarter worth approximately $34,296,000. ARK Investment Management LLC grew its stake in Symbotic by 32.4% in the third quarter. ARK Investment Management LLC now owns 589,887 shares of the company's stock worth $31,795,000 after purchasing an additional 144,389 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Symbotic by 25.6% in the third quarter. First Trust Advisors LP now owns 351,021 shares of the company's stock worth $18,920,000 after purchasing an additional 71,531 shares in the last quarter.

Insider Activity

In other news, Director Charles Kane sold 2,000 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $53.74, for a total transaction of $107,480.00. Following the completion of the sale, the director owned 89,852 shares in the company, valued at approximately $4,828,646.48. This represents a 2.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Todd Krasnow sold 2,000 shares of the stock in a transaction on Monday, April 6th. The shares were sold at an average price of $53.27, for a total value of $106,540.00. Following the sale, the director owned 10,345 shares of the company's stock, valued at approximately $551,078.15. This represents a 16.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 178,492 shares of company stock worth $10,313,214. Company insiders own 8.16% of the company's stock.

Symbotic Stock Performance

Shares of NASDAQ SYM opened at $53.83 on Monday. The stock 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. The stock's fifty day simple moving average is $53.61 and its two-hundred day simple moving average is $61.17. Symbotic Inc. has a 12-month low of $19.14 and a 12-month high of $87.88.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its 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). Symbotic had a negative net margin of 0.45% and a negative return on equity of 1.88%. The company had revenue of $629.99 million for the quarter, compared to the consensus estimate of $622.58 million. During the same period last year, the business posted ($0.03) EPS. The firm's revenue was up 29.4% compared to the same quarter last year. On average, equities analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SYM shares. UBS Group set a $70.00 target price on Symbotic in a research report on Wednesday, February 18th. Wall Street Zen cut Symbotic from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. Northland Securities set a $73.00 target price on Symbotic in a research report on Thursday, February 5th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Symbotic in a research report on Thursday, January 22nd. Finally, Needham & Company LLC increased their target price on Symbotic from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $64.62.

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.

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