Envestnet Asset Management Inc. Has $440,000 Position in Symbotic Inc. (NASDAQ:SYM)

Envestnet Asset Management Inc. cut its position in shares of Symbotic Inc. (NASDAQ:SYM) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,542 shares of the company’s stock after selling 958 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Symbotic were worth $440,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Symbotic during the 4th quarter worth approximately $47,000. Geode Capital Management LLC boosted its holdings in Symbotic by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 505,114 shares of the company’s stock worth $11,981,000 after purchasing an additional 1,356 shares during the last quarter. Headlands Technologies LLC bought a new position in Symbotic in the fourth quarter valued at $1,257,000. Allianz SE acquired a new stake in Symbotic in the 4th quarter valued at $854,000. Finally, JPMorgan Chase & Co. lifted its position in Symbotic by 100.6% during the 4th quarter. JPMorgan Chase & Co. now owns 17,349 shares of the company’s stock worth $411,000 after buying an additional 3,110,075 shares in the last quarter.

Analyst Upgrades and Downgrades

SYM has been the subject of several analyst reports. Citigroup decreased their price objective on Symbotic from $37.00 to $29.00 and set a “buy” rating for the company in a report on Monday, April 14th. Northland Securities boosted their price target on Symbotic from $35.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Raymond James downgraded Symbotic from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. Needham & Company LLC lowered their target price on shares of Symbotic from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Finally, The Goldman Sachs Group dropped their price target 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $37.20.

Symbotic Trading Up 4.7 %

Symbotic stock opened at $23.06 on Monday. The company has a market capitalization of $13.57 billion, a price-to-earnings ratio of -329.38, a PEG ratio of 6.48 and a beta of 1.86. Symbotic Inc. has a 12 month low of $16.32 and a 12 month high of $48.98. The stock’s 50 day moving average is $21.20 and its 200-day moving average is $25.90.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. As a group, equities research analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Symbotic news, insider William M. Boyd III sold 2,660 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $27.60, for a total transaction of $73,416.00. Following the sale, the insider now directly owns 40,812 shares in the company, valued at $1,126,411.20. This represents a 6.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $17.51, for a total transaction of $35,020.00. Following the completion of the transaction, the director now directly owns 194,036 shares in the company, valued at approximately $3,397,570.36. This represents a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,721 shares of company stock worth $1,772,384 in the last quarter. Corporate insiders own 0.60% of the company’s stock.

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.