Hussman Strategic Advisors Inc. Has $3.23 Million Stake in Symbotic Inc. (NASDAQ:SYM)

Hussman Strategic Advisors Inc. trimmed its stake in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 25.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,000 shares of the company's stock after selling 21,000 shares during the quarter. Hussman Strategic Advisors Inc.'s holdings in Symbotic were worth $3,234,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in SYM. JPMorgan Chase & Co. acquired a new stake in Symbotic during the 2nd quarter worth approximately $534,000. UBS Group AG acquired a new stake in shares of Symbotic in the 3rd quarter valued at approximately $224,000. BlackRock Inc. lifted its holdings in shares of Symbotic by 325.5% in the 3rd quarter. BlackRock Inc. now owns 170,213 shares of the company's stock valued at $1,958,000 after buying an additional 130,213 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Symbotic in the 3rd quarter valued at approximately $181,000. Finally, Vanguard Group Inc. acquired a new stake in shares of Symbotic in the 3rd quarter valued at approximately $1,523,000.

Wall Street Analyst Weigh In

SYM has been the subject of several recent analyst reports. The Goldman Sachs Group reduced their price target on Symbotic from $51.00 to $44.00 and set a "neutral" rating for the company in a report on Tuesday, February 6th. DA Davidson raised Symbotic from a "neutral" rating to a "buy" rating and set a $50.00 price target for the company in a report on Wednesday, February 7th. Robert W. Baird dropped their price objective on Symbotic from $54.00 to $52.00 and set an "outperform" rating for the company in a research note on Tuesday, February 6th. Northland Securities raised their price objective on Symbotic from $55.00 to $60.00 and gave the company an "outperform" rating in a research note on Wednesday, April 10th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $60.00 price objective on shares of Symbotic in a research note on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.00.

Insider Activity

In related news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction on Monday, February 5th. The stock was 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 SEC, which is accessible through this hyperlink. In related news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction on Monday, February 5th. The stock was 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 SEC, which is accessible through this hyperlink. Also, insider Michael David Dunn sold 5,444 shares of Symbotic stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $43.29, for a total value of $235,670.76. Following the completion of the transaction, the insider now owns 71,366 shares in the company, valued at approximately $3,089,434.14. The disclosure for this sale can be found here. Insiders sold a total of 7,188,628 shares of company stock valued at $279,026,777 over the last quarter. Company insiders own 38.30% of the company's stock.

Symbotic Price Performance

Symbotic stock traded down $0.36 during mid-day trading on Friday, hitting $39.73. 1,168,076 shares of the company were exchanged, compared to its average volume of 872,738. The company has a market capitalization of $22.93 billion, a P/E ratio of -147.15 and a beta of 1.91. Symbotic Inc. has a 12-month low of $22.40 and a 12-month high of $64.14. The business's 50 day simple moving average is $43.63 and its two-hundred day simple moving average is $44.18.

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. The business had revenue of $368.45 million during the quarter, compared to the consensus estimate of $370.28 million. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. Equities research analysts predict that Symbotic Inc. will post -0.02 earnings per share for the current 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.