Wells Fargo & Company MN lessened its stake in Symbotic Inc. (NASDAQ:SYM - Free Report) by 9.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,621 shares of the company's stock after selling 13,620 shares during the quarter. Wells Fargo & Company MN's holdings in Symbotic were worth $2,931,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Symbotic by 2.6% during the 3rd quarter. State Street Corp now owns 319,235 shares of the company's stock worth $7,786,000 after buying an additional 7,990 shares during the period. Barclays PLC grew its position in shares of Symbotic by 1,105.9% during the 3rd quarter. Barclays PLC now owns 9,346 shares of the company's stock worth $228,000 after buying an additional 8,571 shares during the period. Geode Capital Management LLC grew its position in shares of Symbotic by 10.2% during the 3rd quarter. Geode Capital Management LLC now owns 503,758 shares of the company's stock worth $12,290,000 after buying an additional 46,721 shares during the period. 1ST Source Bank acquired a new stake in shares of Symbotic during the 3rd quarter worth approximately $488,000. Finally, Capital Market Strategies LLC acquired a new stake in shares of Symbotic during the 4th quarter worth approximately $802,000.
Symbotic Stock Down 0.1 %
Shares of SYM stock traded down $0.02 during trading on Tuesday, reaching $21.98. The company's stock had a trading volume of 582,807 shares, compared to its average volume of 1,932,069. The business has a fifty day moving average price of $21.31 and a 200-day moving average price of $26.06. The company has a market cap of $12.93 billion, a price-to-earnings ratio of -313.96, a price-to-earnings-growth ratio of 6.48 and a beta of 1.86. Symbotic Inc. has a one year low of $16.32 and a one year high of $48.98.
Symbotic (NASDAQ:SYM - Get Free Report) last announced 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 negative net margin of 0.38% and a positive return on equity of 5.11%. Research analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current year.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on SYM. DA Davidson upgraded shares of Symbotic from a "neutral" rating to a "buy" rating and set a $35.00 price target for the company in a research report on Wednesday, January 8th. The Goldman Sachs Group reduced their price objective on shares of Symbotic from $25.00 to $18.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Northland Securities lifted their price objective on shares of Symbotic from $35.00 to $41.00 and gave the stock an "outperform" rating in a research note on Friday, January 17th. BWS Financial reissued a "sell" rating and set a $10.00 price objective on shares of Symbotic in a research note on Wednesday, April 2nd. Finally, Citigroup reduced their price objective on shares of Symbotic from $37.00 to $29.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. One 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 data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $37.20.
Read Our Latest Stock Report on SYM
Insider Buying and Selling
In related news, Director Todd Krasnow sold 2,000 shares of the business's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $17.51, for a total transaction of $35,020.00. Following the transaction, the director now directly owns 194,036 shares in the company, valued at approximately $3,397,570.36. The trade was a 1.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael David Dunn sold 1,971 shares of the business's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $30.00, for a total transaction of $59,130.00. Following the transaction, the insider now owns 22,301 shares in the company, valued at approximately $669,030. The trade was a 8.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,957 shares of company stock worth $1,573,931. Insiders own 0.60% of the company's stock.
Symbotic Company Profile
(
Free Report)
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.
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