MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $27.47 Million Stake in Symbotic Inc. (NASDAQ:SYM)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its position in Symbotic Inc. (NASDAQ:SYM - Free Report) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,156,364 shares of the company's stock after selling 48,257 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.20% of Symbotic worth $27,470,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Alberta Investment Management Corp acquired a new position in Symbotic during the 4th quarter worth approximately $586,000. Vanguard Group Inc. grew its stake in shares of Symbotic by 41.3% during the fourth quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company's stock worth $117,846,000 after buying an additional 1,452,627 shares during the last quarter. Hodges Capital Management Inc. increased its holdings in shares of Symbotic by 7.9% during the fourth quarter. Hodges Capital Management Inc. now owns 273,841 shares of the company's stock worth $6,492,000 after buying an additional 20,111 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Symbotic in the 4th quarter valued at $20,754,000. Finally, Robocap Asset Management Ltd acquired a new stake in shares of Symbotic during the 4th quarter valued at $1,368,000.

Insider Activity

In related news, Director Rollin L. Ford sold 28,740 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $26.02, for a total value of $747,814.80. Following the completion of the sale, the director now directly owns 10,447 shares of the company's stock, valued at $271,830.94. The trade was a 73.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Maria G. Freve sold 1,929 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $21.69, for a total value of $41,840.01. Following the transaction, the insider now directly owns 2,646 shares in the company, valued at approximately $57,391.74. This trade represents a 42.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,847 shares of company stock worth $1,733,870 in the last quarter. 0.60% of the stock is owned by corporate insiders.

Symbotic Stock Performance

Shares of SYM stock traded up $0.73 during mid-day trading on Friday, hitting $27.67. The company's stock had a trading volume of 1,267,815 shares, compared to its average volume of 1,922,042. The company has a market cap of $16.28 billion, a PE ratio of -395.23, a P/E/G ratio of 6.48 and a beta of 1.85. The company's fifty day simple moving average is $21.80 and its 200-day simple moving average is $25.65. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $44.08.

Symbotic (NASDAQ:SYM - Get Free Report) last issued 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 positive return on equity of 5.11% and a negative net margin of 0.38%. The business had revenue of $549.65 million during the quarter, compared to the consensus estimate of $522.36 million. During the same quarter in the previous year, the firm posted ($0.07) earnings per share. The company's revenue for the quarter was up 39.7% compared to the same quarter last year. On average, equities analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SYM. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $60.00 target price on shares of Symbotic in a report on Thursday, February 6th. BWS Financial reaffirmed a "sell" rating and issued a $10.00 price objective on shares of Symbotic in a research note on Wednesday, April 2nd. Needham & Company LLC dropped their price objective on shares of Symbotic from $35.00 to $32.00 and set a "buy" rating for the company in a report on Thursday, February 6th. UBS Group cut their target price on shares of Symbotic from $32.00 to $30.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. Finally, Citigroup decreased their price target on shares of Symbotic from $37.00 to $29.00 and set a "buy" rating for the company in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $37.20.

About Symbotic

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.