Symbotic Inc. (NASDAQ:SYM) Stake Lowered by Main Management ETF Advisors LLC

Main Management ETF Advisors LLC trimmed its position in shares of Symbotic Inc. (NASDAQ:SYM) by 8.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 41,296 shares of the company’s stock after selling 3,712 shares during the quarter. Main Management ETF Advisors LLC’s holdings in Symbotic were worth $979,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. IFP Advisors Inc grew its stake 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 purchasing an additional 503 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Symbotic in the 4th quarter valued at approximately $47,000. Private Trust Co. NA acquired a new position in Symbotic in the fourth quarter worth approximately $47,000. Jones Financial Companies Lllp raised its position in Symbotic by 154.1% during the fourth 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 in the last quarter. Finally, MCF Advisors LLC acquired a new stake in Symbotic in the fourth quarter valued at approximately $85,000.

Analyst Ratings Changes

Several brokerages have recently commented on SYM. UBS Group dropped their price target on shares of Symbotic from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. 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 report on Thursday, April 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $60.00 price target on shares of Symbotic in a research report on Thursday, February 6th. Northland Securities upped their price target on Symbotic from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Finally, Raymond James downgraded Symbotic from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $37.20.

Symbotic Stock Performance

NASDAQ:SYM opened at $26.70 on Wednesday. The firm’s 50-day moving average is $21.46 and its 200-day moving average is $25.69. The company has a market cap 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 issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). The firm had revenue of $549.65 million for the quarter, compared to the consensus estimate of $522.36 million. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. The company’s revenue was up 39.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. Equities analysts predict that Symbotic Inc. will post 0.13 EPS for the current year.

Insider Activity

In other news, insider William M. Boyd III sold 2,660 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $27.60, for a total value of $73,416.00. Following the sale, the insider now directly owns 40,812 shares in the company, valued at approximately $1,126,411.20. This represents a 6.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Rollin L. Ford sold 28,740 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $26.02, for a total value of $747,814.80. Following the transaction, the director now owns 10,447 shares of the company’s stock, valued at $271,830.94. This trade represents a 73.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,847 shares of company stock worth $1,469,989. Company insiders own 0.60% of the company’s stock.

Symbotic Company 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.