Hunter Associates Investment Management LLC Trims Holdings in Symbotic Inc. (NASDAQ:SYM)

Hunter Associates Investment Management LLC reduced its holdings in shares of Symbotic Inc. (NASDAQ:SYM) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,174 shares of the company’s stock after selling 294 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in Symbotic were worth $1,190,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rockefeller Capital Management L.P. acquired a new stake in shares of Symbotic during the 4th quarter valued at approximately $29,000. Providence Capital Advisors LLC acquired a new stake in shares of Symbotic during the 3rd quarter valued at approximately $33,000. National Bank of Canada FI raised its position in shares of Symbotic by 66.7% during the 3rd quarter. National Bank of Canada FI now owns 1,000 shares of the company’s stock valued at $35,000 after acquiring an additional 400 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Symbotic by 1,412.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,512 shares of the company’s stock valued at $35,000 after acquiring an additional 1,412 shares in the last quarter. Finally, Comerica Bank acquired a new stake in Symbotic in the third quarter worth $45,000.

Insider Buying and Selling at Symbotic

In other Symbotic news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $51.50, for a total transaction of $103,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $51.50, for a total transaction of $103,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Merline Saintil sold 3,135 shares of Symbotic stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $44.74, for a total value of $140,259.90. Following the sale, the director now owns 62,312 shares of the company’s stock, valued at $2,787,838.88. The disclosure for this sale can be found here. Insiders have sold a total of 7,188,628 shares of company stock valued at $279,026,777 in the last 90 days. 38.30% of the stock is currently owned by corporate insiders.

Symbotic Trading Down 0.9 %

SYM traded down $0.36 during trading on Friday, reaching $39.73. The company had a trading volume of 1,168,076 shares, compared to its average volume of 872,738. The firm’s 50-day simple moving average is $43.63 and its 200 day simple moving average is $44.00. Symbotic Inc. has a 12-month low of $22.40 and a 12-month high of $64.14.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SYM shares. KeyCorp lowered their price target on Symbotic from $63.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, February 6th. William Blair reaffirmed a “market perform” rating on shares of Symbotic in a research note on Tuesday, February 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $60.00 target price on shares of Symbotic in a research note on Tuesday, February 6th. Robert W. Baird decreased their target price on Symbotic from $54.00 to $52.00 and set an “outperform” rating for the company in a research note on Tuesday, February 6th. Finally, Needham & Company LLC decreased their target price on Symbotic from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

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.