Capital Market Strategies LLC cut its position in shares of Symbotic Inc. (NASDAQ:SYM – Free Report) by 20.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,275 shares of the company’s stock after selling 9,887 shares during the period. Symbotic accounts for 1.0% of Capital Market Strategies LLC’s portfolio, making the stock its 16th largest holding. Capital Market Strategies LLC’s holdings in Symbotic were worth $1,487,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Symbotic by 15.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 84,899 shares of the company’s stock worth $1,716,000 after purchasing an additional 11,098 shares during the last quarter. S Squared Technology LLC increased its stake in shares of Symbotic by 6.7% during the 1st quarter. S Squared Technology LLC now owns 480,000 shares of the company’s stock worth $9,701,000 after purchasing an additional 30,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Symbotic by 16.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,343,902 shares of the company’s stock worth $27,155,000 after purchasing an additional 187,538 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of Symbotic by 36.7% during the 1st quarter. Advisors Asset Management Inc. now owns 35,261 shares of the company’s stock worth $713,000 after purchasing an additional 9,459 shares during the last quarter. Finally, Amundi boosted its holdings in shares of Symbotic by 53.0% during the 1st quarter. Amundi now owns 72,192 shares of the company’s stock worth $1,459,000 after buying an additional 24,993 shares during the period.
Wall Street Analysts Forecast Growth
SYM has been the subject of several research analyst reports. Wall Street Zen raised shares of Symbotic from a “sell” rating to a “hold” rating in a report on Saturday. Deutsche Bank Aktiengesellschaft downgraded shares of Symbotic from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a report on Friday, July 18th. DA Davidson reaffirmed a “neutral” rating and set a $47.00 target price (up previously from $35.00) on shares of Symbotic in a report on Monday, August 25th. Citigroup reaffirmed a “buy” rating on shares of Symbotic in a report on Monday, July 14th. Finally, Arete downgraded shares of Symbotic from a “buy” rating to a “neutral” rating and set a $50.00 target price for the company. in a report on Friday, July 25th. Six analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $43.44.
Read Our Latest Research Report on Symbotic
Symbotic Stock Down 2.4%
Shares of Symbotic stock opened at $47.75 on Friday. Symbotic Inc. has a twelve month low of $16.32 and a twelve month high of $64.16. The company has a 50-day simple moving average of $50.25 and a two-hundred day simple moving average of $34.23. The stock has a market capitalization of $28.20 billion, a price-to-earnings ratio of -682.05 and a beta of 2.05.
Symbotic (NASDAQ:SYM – Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.08). Symbotic had a negative return on equity of 2.02% and a negative net margin of 0.38%.The business had revenue of $592.12 million during the quarter, compared to analyst estimates of $533.55 million. During the same quarter last year, the firm earned ($0.02) EPS. Symbotic’s revenue for the quarter was up 25.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Symbotic news, insider Maria G. Freve sold 2,000 shares of Symbotic stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $51.93, for a total value of $103,860.00. Following the completion of the sale, the insider owned 1,312 shares in the company, valued at $68,132.16. The trade was a 60.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Todd Krasnow sold 4,000 shares of Symbotic stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $45.64, for a total transaction of $182,560.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 484,632 shares of company stock worth $23,901,751. 0.60% of the stock is currently owned by insiders.
Symbotic 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.
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