Baillie Gifford & Co. Has $683.65 Million Stock Holdings in Symbotic Inc. $SYM

Baillie Gifford & Co. trimmed its stake in Symbotic Inc. (NASDAQ:SYM) by 5.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,683,739 shares of the company’s stock after selling 756,374 shares during the quarter. Baillie Gifford & Co. owned approximately 2.15% of Symbotic worth $683,654,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYM. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Symbotic by 248.5% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 29,588 shares of the company’s stock valued at $1,595,000 after acquiring an additional 21,099 shares during the period. Slow Capital Inc. bought a new position in Symbotic during the third quarter worth about $5,794,000. Wilmington Savings Fund Society FSB acquired a new position in Symbotic during the third quarter worth approximately $349,000. Rakuten Securities Inc. lifted its position in shares of Symbotic by 7.0% in the third quarter. Rakuten Securities Inc. now owns 9,430 shares of the company’s stock valued at $508,000 after buying an additional 613 shares during the last quarter. Finally, New Republic Capital LLC acquired a new stake in shares of Symbotic in the third quarter valued at approximately $203,000.

Symbotic Stock Performance

SYM stock opened at $62.08 on Friday. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $87.88. The company has a market capitalization of $36.72 billion, a PE ratio of -413.87, a price-to-earnings-growth ratio of 18.02 and a beta of 2.13. The company’s 50-day simple moving average is $64.46 and its 200 day simple moving average is $59.83.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Monday, November 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). Symbotic had a negative net margin of 0.75% and a negative return on equity of 3.89%. The business had revenue of $618.46 million during the quarter, compared to the consensus estimate of $604.00 million. During the same period in the prior year, the firm earned $0.47 EPS. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, analysts forecast that Symbotic Inc. will post 0.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SYM. The Goldman Sachs Group restated a “sell” rating and issued a $50.00 price target on shares of Symbotic in a research note on Thursday, January 15th. TD Cowen restated a “buy” rating on shares of Symbotic in a research note on Wednesday, December 3rd. Citigroup lifted their target price on shares of Symbotic from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Robert W. Baird upped their price target on shares of Symbotic from $55.00 to $58.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Finally, DA Davidson restated a “neutral” rating and set a $47.00 price objective on shares of Symbotic in a research report on Tuesday, November 25th. Six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $56.79.

Insiders Place Their Bets

In other news, major shareholder Group Corp. Softbank sold 3,500,000 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $53.21, for a total transaction of $186,235,000.00. Following the completion of the sale, the insider directly owned 5,590,000 shares in the company, valued at approximately $297,443,900. This represents a 38.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Todd Krasnow sold 4,000 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $68.63, for a total value of $274,520.00. The SEC filing for this sale provides additional information. Insiders sold a total of 7,065,981 shares of company stock valued at $377,394,265 in the last quarter. Company insiders own 0.60% of the company’s stock.

Symbotic Company Profile

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.