US Bancorp DE Sells 2,301 Shares of Symbotic Inc. $SYM

US Bancorp DE reduced its position in Symbotic Inc. (NASDAQ:SYM) by 30.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,323 shares of the company’s stock after selling 2,301 shares during the period. US Bancorp DE’s holdings in Symbotic were worth $108,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SYM. GAMMA Investing LLC increased its position in shares of Symbotic by 1,812.2% during the first quarter. GAMMA Investing LLC now owns 1,415 shares of the company’s stock valued at $29,000 after buying an additional 1,341 shares during the period. Ulland Investment Advisors LLC bought a new stake in shares of Symbotic during the first quarter valued at about $31,000. CWM LLC increased its position in shares of Symbotic by 408.2% during the first quarter. CWM LLC now owns 2,602 shares of the company’s stock valued at $53,000 after buying an additional 2,090 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Symbotic by 40.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,566 shares of the company’s stock valued at $85,000 after buying an additional 1,018 shares during the period. Finally, CoreCap Advisors LLC increased its position in shares of Symbotic by 364.6% during the fourth quarter. CoreCap Advisors LLC now owns 5,529 shares of the company’s stock valued at $131,000 after buying an additional 4,339 shares during the period.

Symbotic Stock Performance

NASDAQ:SYM opened at $52.57 on Monday. The firm has a market cap of $31.04 billion, a PE ratio of -750.89 and a beta of 2.06. Symbotic Inc. has a fifty-two week low of $16.32 and a fifty-two week high of $64.16. The business has a 50 day moving average price of $45.42 and a 200-day moving average price of $31.56.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.08). The company had revenue of $592.12 million for the quarter, compared to analysts’ expectations of $533.55 million. Symbotic had a negative net margin of 0.38% and a negative return on equity of 2.02%. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period last year, the company posted ($0.02) EPS. Research analysts predict that Symbotic Inc. will post 0.13 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Arete cut Symbotic from a “buy” rating to a “neutral” rating and set a $50.00 price target on the stock. in a research report on Friday, July 25th. Arete Research cut shares of Symbotic from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 25th. Baird R W cut shares of Symbotic from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 7th. Citigroup restated a “buy” rating on shares of Symbotic in a research report on Monday, July 14th. Finally, Northland Securities upped their price objective on shares of Symbotic from $35.00 to $56.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $42.69.

Insider Activity

In other news, insider William M. Boyd III sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $59.00, for a total transaction of $1,475,000.00. Following the completion of the sale, the insider owned 31,884 shares of the company’s stock, valued at approximately $1,881,156. This represents a 43.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniela L. Rus sold 11,705 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $59.00, for a total value of $690,595.00. Following the transaction, the director owned 11,024 shares of the company’s stock, valued at approximately $650,416. This represents a 51.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 243,241 shares of company stock valued at $12,495,032. Corporate insiders own 0.60% 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.