Envestnet Asset Management Inc. Sells 958 Shares of Symbotic Inc. (NASDAQ:SYM)

Envestnet Asset Management Inc. decreased its holdings in shares of Symbotic Inc. (NASDAQ:SYM) by 4.9% in the 4th quarter, Holdings Channel reports. The fund owned 18,542 shares of the company’s stock after selling 958 shares during the period. Envestnet Asset Management Inc.’s holdings in Symbotic were worth $440,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. IFP Advisors Inc raised its position 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 during the last quarter. Private Trust Co. NA bought a new position in Symbotic in the 4th quarter valued at approximately $47,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Symbotic during the 4th quarter worth approximately $47,000. Jones Financial Companies Lllp grew its holdings in Symbotic by 154.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company’s stock worth $58,000 after acquiring an additional 1,490 shares during the last quarter. Finally, MCF Advisors LLC acquired a new position in Symbotic in the 4th quarter valued at approximately $85,000.

Insiders Place Their Bets

In other news, CFO Carol J. Hibbard sold 4,055 shares of Symbotic stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $30.70, for a total transaction of $124,488.50. Following the completion of the transaction, the chief financial officer now directly owns 44,386 shares in the company, valued at $1,362,650.20. This trade represents a 8.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Todd Krasnow sold 10,447 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $27.05, for a total transaction of $282,591.35. Following the completion of the sale, the director now owns 194,036 shares in the company, valued at $5,248,673.80. This represents a 5.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,721 shares of company stock worth $1,772,384. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

SYM has been the topic of a number of recent research reports. Oppenheimer started coverage on shares of Symbotic in a report on Wednesday, January 15th. They set an “outperform” rating and a $35.00 price target on the stock. Needham & Company LLC reduced their price target on Symbotic from $35.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Cantor Fitzgerald restated an “overweight” rating and set a $60.00 price objective on shares of Symbotic in a research report on Thursday, February 6th. Northland Securities upped their target price on Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Finally, Raymond James lowered shares of Symbotic from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Symbotic currently has a consensus rating of “Hold” and an average price target of $37.20.

Symbotic Stock Up 4.7 %

Shares of NASDAQ SYM opened at $23.06 on Monday. Symbotic Inc. has a 12-month low of $16.32 and a 12-month high of $48.98. The firm has a market cap of $13.57 billion, a PE ratio of -329.38, a P/E/G ratio of 6.48 and a beta of 1.86. The company’s fifty day simple moving average is $21.20 and its 200 day simple moving average is $25.90.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share (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%. On average, equities analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current year.

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.