Symbotic Inc. (NASDAQ:SYM) Shares Sold by Next Century Growth Investors LLC

Next Century Growth Investors LLC cut its stake in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 70.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,582 shares of the company's stock after selling 107,343 shares during the quarter. Next Century Growth Investors LLC's holdings in Symbotic were worth $1,081,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. IFP Advisors Inc lifted its holdings in Symbotic by 58.2% in the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock valued at $32,000 after acquiring an additional 503 shares during the period. Private Trust Co. NA purchased a new stake in Symbotic during the fourth quarter worth about $47,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Symbotic during the fourth quarter worth about $47,000. Jones Financial Companies Lllp lifted its position in shares of Symbotic by 154.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company's stock valued at $58,000 after acquiring an additional 1,490 shares during the period. Finally, MCF Advisors LLC acquired a new stake in shares of Symbotic in the 4th quarter worth approximately $85,000.

Wall Street Analyst Weigh In

SYM has been the topic of a number of research analyst reports. Needham & Company LLC decreased their target price on Symbotic from $35.00 to $32.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. Oppenheimer began coverage on shares of Symbotic in a research report on Wednesday, January 15th. They issued an "outperform" rating and a $35.00 price objective on the stock. DA Davidson upgraded shares of Symbotic from a "neutral" rating to a "buy" rating and set a $35.00 target price for the company in a research report on Wednesday, January 8th. 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 research report on Tuesday, February 25th. Finally, Northland Securities lifted their price objective on Symbotic from $35.00 to $41.00 and gave the stock an "outperform" rating in a research report on Friday, January 17th. One 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 company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $37.20.

Symbotic Price Performance

NASDAQ:SYM traded up $0.27 during trading hours on Thursday, reaching $20.52. 337,907 shares of the company were exchanged, compared to its average volume of 1,927,412. The firm has a market cap of $12.07 billion, a price-to-earnings ratio of -292.32, a PEG ratio of 6.48 and a beta of 1.86. The stock has a 50 day simple moving average of $22.50 and a 200 day simple moving average of $26.27. Symbotic Inc. has a 52-week low of $16.32 and a 52-week high of $48.98.

Symbotic (NASDAQ:SYM - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. On average, analysts predict that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Insider Activity

In related news, insider Michael David Dunn sold 2,040 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $22.24, for a total transaction of $45,369.60. Following the completion of the sale, the insider now directly owns 23,822 shares of the company's stock, valued at approximately $529,801.28. This trade represents 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, Director Todd Krasnow sold 2,000 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $17.51, for a total value of $35,020.00. Following the sale, the director now owns 194,036 shares of the company's stock, valued at $3,397,570.36. This represents a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,003 shares of company stock valued at $1,598,214. Company insiders own 0.60% of the company's stock.

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.