New York State Common Retirement Fund Reduces Holdings in Symbotic Inc. (NASDAQ:SYM)

New York State Common Retirement Fund trimmed its position in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 59.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,816 shares of the company's stock after selling 18,667 shares during the period. New York State Common Retirement Fund's holdings in Symbotic were worth $658,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SYM. Raymond James & Associates grew its stake in Symbotic by 15.4% in the 4th quarter. Raymond James & Associates now owns 579,876 shares of the company's stock worth $29,765,000 after acquiring an additional 77,388 shares in the last quarter. S Squared Technology LLC grew its stake in Symbotic by 18.2% in the 3rd quarter. S Squared Technology LLC now owns 260,000 shares of the company's stock worth $8,692,000 after acquiring an additional 40,000 shares in the last quarter. Hodges Capital Management Inc. bought a new position in Symbotic in the 3rd quarter worth about $5,740,000. First Dallas Securities Inc. bought a new position in Symbotic in the 3rd quarter worth about $3,784,000. Finally, UBS Group AG grew its stake in Symbotic by 14.6% in the 3rd quarter. UBS Group AG now owns 110,951 shares of the company's stock worth $3,709,000 after acquiring an additional 14,170 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have commented on SYM shares. DA Davidson upgraded 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. William Blair reiterated a "market perform" rating on shares of Symbotic in a research note on Friday. Needham & Company LLC reiterated a "buy" rating and set a $54.00 price objective on shares of Symbotic in a research note on Tuesday, May 7th. Robert W. Baird increased their target price on shares of Symbotic from $52.00 to $53.00 and gave the company an "outperform" rating in a research report on Tuesday, May 7th. Finally, KeyCorp decreased their target price on shares of Symbotic from $63.00 to $55.00 and set an "overweight" rating for the company in a research report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $55.69.

Symbotic Stock Performance

Shares of Symbotic stock traded up $2.32 during trading on Tuesday, hitting $45.06. 1,885,467 shares of the company's stock were exchanged, compared to its average volume of 1,439,520. The business has a 50-day simple moving average of $43.42 and a 200-day simple moving average of $44.34. Symbotic Inc. has a 52-week low of $23.58 and a 52-week high of $64.14. The stock has a market capitalization of $26.00 billion, a price-to-earnings ratio of -187.74 and a beta of 1.97.

Insider Buying and Selling

In other Symbotic news, insider Richard B. Cohen sold 5,000,000 shares of Symbotic stock in a transaction on Monday, February 26th. The shares were sold at an average price of $38.32, for a total value of $191,600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Symbotic news, major shareholder David A. Ladensohn sold 2,085,296 shares of Symbotic stock in a transaction on Monday, February 26th. The shares were sold at an average price of $39.69, for a total value of $82,765,398.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard B. Cohen sold 5,000,000 shares of Symbotic stock in a transaction on Monday, February 26th. The shares were sold at an average price of $38.32, for a total transaction of $191,600,000.00. The disclosure for this sale can be found here. Insiders sold a total of 7,110,447 shares of company stock valued at $275,410,529 over the last 90 days. Insiders own 38.30% 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.