Citigroup Inc. Sells 14,067 Shares of Symbotic Inc. $SYM

Citigroup Inc. lowered its position in Symbotic Inc. (NASDAQ:SYM) by 23.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 44,796 shares of the company’s stock after selling 14,067 shares during the quarter. Citigroup Inc.’s holdings in Symbotic were worth $2,415,000 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 the company. IAG Wealth Partners LLC purchased a new stake in Symbotic during the second quarter valued at about $32,000. NewEdge Advisors LLC increased its stake in shares of Symbotic by 81.5% in the second quarter. NewEdge Advisors LLC now owns 1,276 shares of the company’s stock worth $50,000 after purchasing an additional 573 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Symbotic by 20,000.0% in the third quarter. Fifth Third Bancorp now owns 1,005 shares of the company’s stock valued at $54,000 after purchasing an additional 1,000 shares during the period. KBC Group NV bought a new stake in shares of Symbotic in the second quarter valued at approximately $66,000. Finally, Centerpoint Advisors LLC lifted its stake in shares of Symbotic by 16.7% during the 3rd quarter. Centerpoint Advisors LLC now owns 1,400 shares of the company’s stock valued at $75,000 after buying an additional 200 shares in the last quarter.

Symbotic Trading Down 8.6%

Symbotic stock opened at $48.61 on Friday. Symbotic Inc. has a 1-year low of $16.32 and a 1-year high of $87.88. The firm has a market capitalization of $29.27 billion, a PE ratio of -486.05, a price-to-earnings-growth ratio of 4.87 and a beta of 2.13. The firm’s 50 day simple moving average is $59.74 and its 200 day simple moving average is $60.60.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.06). The firm had revenue of $629.99 million during the quarter, compared to the consensus estimate of $622.58 million. Symbotic had a negative net margin of 0.45% and a negative return on equity of 1.88%. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.03) earnings per share. Research analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on SYM. TD Cowen reaffirmed a “buy” rating on shares of Symbotic in a report on Wednesday, December 3rd. Zacks Research upgraded Symbotic from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. DA Davidson raised their price target on Symbotic from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Barclays lifted their price target on Symbotic from $41.00 to $42.00 and gave the company an “underweight” rating in a research report on Monday, January 12th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $50.00 price objective on shares of Symbotic in a research note on Thursday, January 15th. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Symbotic has a consensus rating of “Hold” and a consensus price target of $60.57.

Insider Buying and Selling

In other Symbotic news, Director Rollin L. Ford sold 60,000 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $57.51, for a total value of $3,450,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Maria G. Freve sold 8,306 shares of the firm’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $55.11, for a total value of $457,743.66. Following the completion of the sale, the insider directly owned 539 shares in the company, valued at approximately $29,704.29. The trade was a 93.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 7,186,533 shares of company stock valued at $383,607,335 in the last ninety days. 8.16% of the stock is owned by insiders.

About Symbotic

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.