Vanguard Group Inc. Reduces Holdings in Symbotic Inc. (NASDAQ:SYM)

Vanguard Group Inc. trimmed its position in Symbotic Inc. (NASDAQ:SYM - Free Report) by 2.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,040,335 shares of the company's stock after selling 60,679 shares during the quarter. Vanguard Group Inc. owned about 0.37% of Symbotic worth $68,208,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of SYM. Softbank Group CORP. boosted its holdings in Symbotic by 1,000.0% in the 1st quarter. Softbank Group CORP. now owns 22,000,000 shares of the company's stock valued at $502,480,000 after purchasing an additional 20,000,000 shares during the last quarter. Frontier Capital Management Co. LLC lifted its holdings in shares of Symbotic by 202.3% in the 1st quarter. Frontier Capital Management Co. LLC now owns 1,041,144 shares of the company's stock worth $23,780,000 after acquiring an additional 696,727 shares during the last quarter. FMR LLC lifted its holdings in shares of Symbotic by 759.7% in the 1st quarter. FMR LLC now owns 383,593 shares of the company's stock worth $8,761,000 after acquiring an additional 338,975 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Symbotic in the 1st quarter worth approximately $6,538,000. Finally, BlackRock Inc. lifted its holdings in shares of Symbotic by 54.1% in the 1st quarter. BlackRock Inc. now owns 508,933 shares of the company's stock worth $11,624,000 after acquiring an additional 178,589 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SYM shares. Needham & Company LLC decreased their price objective on shares of Symbotic from $58.00 to $54.00 and set a "buy" rating on the stock in a report on Tuesday, February 6th. KeyCorp decreased their price objective on shares of Symbotic from $63.00 to $55.00 and set an "overweight" rating on the stock in a report on Tuesday, February 6th. DA Davidson raised shares of Symbotic from a "neutral" rating to a "buy" rating and set a $50.00 target price on the stock in a research note on Wednesday, February 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $60.00 target price on shares of Symbotic in a research note on Tuesday, February 6th. Finally, Robert W. Baird cut their target price on shares of Symbotic from $54.00 to $52.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $52.85.

Symbotic Stock Performance

Shares of NASDAQ:SYM traded up $1.71 during trading hours on Friday, reaching $44.00. The stock had a trading volume of 770,755 shares, compared to its average volume of 1,155,448. Symbotic Inc. has a 1 year low of $22.40 and a 1 year high of $64.14. The firm's 50 day moving average is $44.00 and its 200-day moving average is $43.35. The stock has a market capitalization of $25.39 billion, a price-to-earnings ratio of -162.96 and a beta of 1.91.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings data on Monday, February 5th. The company reported ($0.02) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.03. Symbotic had a negative net margin of 1.39% and a negative return on equity of 35.06%. The company had revenue of $368.45 million for the quarter, compared to the consensus estimate of $370.28 million. Analysts forecast that Symbotic Inc. will post -0.02 EPS for the current year.

Insider Buying and Selling at Symbotic

In other news, Director Todd Krasnow sold 2,000 shares of the company's stock in a transaction on Monday, February 5th. The shares were sold at an average price of $51.50, for a total value of $103,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Todd Krasnow sold 2,000 shares of the company's stock in a transaction on Monday, February 5th. The shares were sold at an average price of $51.50, for a total value of $103,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael David Dunn sold 5,444 shares of the company's stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $43.29, for a total transaction of $235,670.76. Following the completion of the transaction, the insider now owns 71,366 shares of the company's stock, valued at approximately $3,089,434.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,255,470 shares of company stock valued at $281,935,627. Insiders own 38.30% of the company's stock.

Symbotic 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.