Baird Financial Group Inc. Has $1.38 Million Stock Position in Symbotic Inc. (NASDAQ:SYM)

Baird Financial Group Inc. decreased its holdings in shares of Symbotic Inc. (NASDAQ:SYM) by 18.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,340 shares of the company’s stock after selling 12,950 shares during the quarter. Baird Financial Group Inc.’s holdings in Symbotic were worth $1,383,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SYM. Barclays PLC increased its stake 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 purchasing an additional 8,571 shares during the last quarter. 180 Wealth Advisors LLC grew its stake in Symbotic by 5.6% in the 4th quarter. 180 Wealth Advisors LLC now owns 38,621 shares of the company’s stock valued at $916,000 after buying an additional 2,063 shares during the last quarter. Armstrong Advisory Group Inc. grew its stake in Symbotic by 122.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 11,782 shares of the company’s stock valued at $279,000 after buying an additional 6,479 shares during the last quarter. Bouvel Investment Partners LLC acquired a new position in Symbotic in the 4th quarter valued at $1,056,000. Finally, MCF Advisors LLC acquired a new position in Symbotic in the 4th quarter valued at $85,000.

Insider Transactions at Symbotic

In related news, CFO Carol J. Hibbard sold 4,628 shares of Symbotic stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $22.62, for a total transaction of $104,685.36. Following the completion of the transaction, the chief financial officer now directly owns 54,011 shares of the company’s stock, valued at $1,221,728.82. This trade represents a 7.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider William M. Boyd III sold 2,660 shares of Symbotic stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $27.60, for a total transaction of $73,416.00. Following the transaction, the insider now directly owns 40,812 shares of the company’s stock, valued at $1,126,411.20. This represents a 6.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 60,847 shares of company stock valued at $1,469,989. Company insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Oppenheimer assumed coverage on shares of Symbotic in a research note on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a research note on Thursday, February 6th. Citigroup lowered their target price 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. Needham & Company LLC lowered their target price on shares of Symbotic from $35.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Finally, The Goldman Sachs Group lowered their target price 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $37.20.

Symbotic Stock Performance

NASDAQ:SYM opened at $26.70 on Wednesday. The company has a 50-day moving average of $21.46 and a 200-day moving average of $25.69. The company has a market capitalization of $15.71 billion, a price-to-earnings ratio of -381.37, a PEG ratio of 6.48 and a beta of 1.85. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $47.42.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.09). The business had revenue of $549.65 million for the quarter, compared to the consensus estimate of $522.36 million. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. Symbotic’s revenue was up 39.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.07) earnings per share. Sell-side analysts forecast that Symbotic Inc. will post 0.13 EPS for the current year.

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.