Vontobel Holding Ltd. Has $216,000 Stock Position in Symbotic Inc. (NASDAQ:SYM)

Vontobel Holding Ltd. lowered its stake in Symbotic Inc. (NASDAQ:SYM) by 31.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,210 shares of the company’s stock after selling 1,890 shares during the quarter. Vontobel Holding Ltd.’s holdings in Symbotic were worth $216,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. TFC Financial Management Inc. increased its position in Symbotic by 97.1% during the fourth quarter. TFC Financial Management Inc. now owns 1,226 shares of the company’s stock worth $63,000 after buying an additional 604 shares during the last quarter. Arizona State Retirement System acquired a new position in Symbotic during the fourth quarter worth approximately $232,000. Colonial River Wealth Management LLC acquired a new position in Symbotic during the fourth quarter worth approximately $232,000. Stonegate Investment Group LLC acquired a new position in Symbotic during the fourth quarter worth approximately $318,000. Finally, Bourne Lent Asset Management Inc. increased its position in Symbotic by 1.0% during the fourth quarter. Bourne Lent Asset Management Inc. now owns 58,260 shares of the company’s stock worth $2,990,000 after buying an additional 600 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Robert W. Baird lowered their price target on Symbotic from $54.00 to $52.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 6th. The Goldman Sachs Group reduced their price objective on Symbotic from $51.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. Northland Securities boosted their price objective on Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. DA Davidson upgraded Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Wednesday, February 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $60.00 price objective on shares of Symbotic in a report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Symbotic has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Symbotic Trading Up 0.4 %

Shares of SYM stock opened at $40.43 on Thursday. The stock has a market cap of $23.33 billion, a P/E ratio of -149.74 and a beta of 1.91. The stock has a 50 day simple moving average of $43.30 and a 200 day simple moving average of $44.25. Symbotic Inc. has a 1 year low of $22.40 and a 1 year high of $64.14.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings results on Monday, February 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. The business had revenue of $368.45 million during the quarter, compared to analysts’ expectations of $370.28 million. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. Analysts forecast that Symbotic Inc. will post -0.02 EPS for the current year.

Insider Activity at Symbotic

In other Symbotic news, major shareholder David A. Ladensohn sold 2,085,296 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $39.69, for a total transaction of $82,765,398.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Symbotic news, Director Merline Saintil sold 3,135 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $44.74, for a total transaction of $140,259.90. Following the completion of the transaction, the director now directly owns 62,312 shares in the company, valued at $2,787,838.88. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder David A. Ladensohn sold 2,085,296 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $39.69, for a total transaction of $82,765,398.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,106,926 shares of company stock worth $275,324,804. Company insiders own 38.30% 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.