Dimensional Fund Advisors LP Sells 11,404 Shares of Symbotic Inc. (NASDAQ:SYM)

Dimensional Fund Advisors LP reduced its holdings in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 18.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,781 shares of the company's stock after selling 11,404 shares during the quarter. Dimensional Fund Advisors LP's holdings in Symbotic were worth $1,181,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SYM. IFP Advisors Inc boosted its stake in Symbotic by 58.2% during the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock valued at $32,000 after purchasing an additional 503 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Symbotic during the fourth quarter valued at approximately $47,000. Private Trust Co. NA bought a new stake in Symbotic during the fourth quarter worth $47,000. Jones Financial Companies Lllp raised its position in Symbotic by 154.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company's stock valued at $58,000 after buying an additional 1,490 shares during the last quarter. Finally, MCF Advisors LLC bought a new position in Symbotic during the 4th quarter valued at $85,000.

Symbotic Stock Up 2.3%

NASDAQ:SYM traded up $0.63 during trading hours on Monday, hitting $28.30. 1,274,398 shares of the stock traded hands, compared to its average volume of 1,919,454. The company has a market cap of $16.65 billion, a price-to-earnings ratio of -404.23, a price-to-earnings-growth ratio of 6.48 and a beta of 1.85. Symbotic Inc. has a 1 year low of $16.32 and a 1 year high of $44.08. The stock has a 50 day moving average price of $21.80 and a 200 day moving average price of $25.63.

Symbotic (NASDAQ:SYM - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.09). Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. The firm had revenue of $549.65 million for the quarter, compared to analysts' expectations of $522.36 million. During the same quarter last year, the firm posted ($0.07) EPS. The firm's quarterly revenue was up 39.7% compared to the same quarter last year. Equities analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SYM has been the subject of several analyst reports. BWS Financial reiterated a "sell" rating and issued a $10.00 target price on shares of Symbotic in a report on Wednesday, April 2nd. Citigroup cut their price target on Symbotic from $37.00 to $29.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $60.00 price objective on shares of Symbotic in a research note on Thursday, February 6th. UBS Group lowered their price target on shares of Symbotic from $32.00 to $30.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Finally, Raymond James cut Symbotic from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Symbotic has a consensus rating of "Hold" and a consensus price target of $37.20.

Insider Activity

In related news, CFO Carol J. Hibbard sold 4,628 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $22.62, for a total value of $104,685.36. Following the transaction, the chief financial officer now directly owns 54,011 shares of the company's stock, valued at approximately $1,221,728.82. The trade was a 7.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider William M. Boyd III sold 2,660 shares of Symbotic stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $27.60, for a total transaction of $73,416.00. Following the sale, the insider now owns 40,812 shares in the company, valued at approximately $1,126,411.20. The trade was a 6.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,847 shares of company stock worth $1,733,870 over the last ninety days. Corporate insiders own 0.60% 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.