Barclays PLC Has $208,000 Holdings in Symbotic Inc. (NASDAQ:SYM)

Barclays PLC cut its stake in Symbotic Inc. (NASDAQ:SYM) by 6.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,762 shares of the company’s stock after selling 584 shares during the period. Barclays PLC’s holdings in Symbotic were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SYM. 180 Wealth Advisors LLC boosted its stake in Symbotic by 5.6% in the 4th quarter. 180 Wealth Advisors LLC now owns 38,621 shares of the company’s stock worth $916,000 after purchasing an additional 2,063 shares during the period. Armstrong Advisory Group Inc. boosted its stake in Symbotic by 122.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 11,782 shares of the company’s stock worth $279,000 after purchasing an additional 6,479 shares during the period. Bouvel Investment Partners LLC acquired a new position in Symbotic in the 4th quarter worth $1,056,000. MCF Advisors LLC acquired a new position in Symbotic in the 4th quarter worth $85,000. Finally, Bourne Lent Asset Management Inc. boosted its stake in Symbotic by 34.8% in the 4th quarter. Bourne Lent Asset Management Inc. now owns 87,210 shares of the company’s stock worth $2,068,000 after purchasing an additional 22,500 shares during the period.

Insider Buying and Selling at Symbotic

In other news, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $27.32, for a total transaction of $54,640.00. Following the transaction, the director now directly owns 194,036 shares of the company’s stock, valued at approximately $5,301,063.52. This trade represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Carol J. Hibbard sold 4,628 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $22.62, for a total transaction of $104,685.36. Following the transaction, the chief financial officer now directly owns 54,011 shares in the company, valued at $1,221,728.82. This represents a 7.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,847 shares of company stock valued at $1,469,989 in the last three months. 0.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SYM shares. Raymond James lowered shares of Symbotic from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. Oppenheimer assumed coverage on shares of Symbotic in a research report on Wednesday, January 15th. They set an “outperform” rating and a $35.00 price target on the stock. Citigroup cut their price target on shares of Symbotic from $37.00 to $29.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 price target on shares of Symbotic in a research report on Thursday, February 6th. Finally, Needham & Company LLC cut their price target on shares of Symbotic from $35.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Symbotic has an average rating of “Hold” and a consensus price target of $37.20.

Symbotic Stock Performance

Shares of SYM stock opened at $26.00 on Tuesday. The firm’s 50-day moving average is $21.37 and its 200-day moving average is $25.68. The stock has a market cap of $15.30 billion, a price-to-earnings ratio of -371.38, a PEG ratio of 6.48 and a beta of 1.85. Symbotic Inc. has a 52-week low of $16.32 and a 52-week high of $47.42.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.09). The company had revenue of $549.65 million during the quarter, compared to the consensus estimate of $522.36 million. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. The firm’s revenue was up 39.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.07) earnings per share. Sell-side analysts predict that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

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.