Zevenbergen Capital Investments LLC Has $5.28 Million Position in Symbotic Inc. $SYM

Zevenbergen Capital Investments LLC reduced its holdings in shares of Symbotic Inc. (NASDAQ:SYM) by 21.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 88,750 shares of the company’s stock after selling 24,300 shares during the quarter. Zevenbergen Capital Investments LLC’s holdings in Symbotic were worth $5,281,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SYM. 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 worth $75,000 after buying an additional 200 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Symbotic by 4.3% during the third quarter. PNC Financial Services Group Inc. now owns 6,627 shares of the company’s stock worth $357,000 after acquiring an additional 273 shares during the last quarter. AlphaQuest LLC lifted its position in Symbotic by 12.9% during the third quarter. AlphaQuest LLC now owns 2,519 shares of the company’s stock worth $136,000 after acquiring an additional 287 shares during the last quarter. Bouvel Investment Partners LLC boosted its holdings in shares of Symbotic by 0.8% during the third quarter. Bouvel Investment Partners LLC now owns 44,479 shares of the company’s stock worth $2,397,000 after acquiring an additional 336 shares during the period. Finally, Arizona State Retirement System grew its position in shares of Symbotic by 2.6% in the third quarter. Arizona State Retirement System now owns 14,512 shares of the company’s stock valued at $782,000 after purchasing an additional 371 shares during the last quarter.

Symbotic Stock Down 6.0%

SYM stock opened at $47.41 on Tuesday. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $87.88. The business has a 50-day simple moving average of $54.67 and a 200 day simple moving average of $61.13. The company has a market cap of $28.55 billion, a PE ratio of -474.05, a price-to-earnings-growth ratio of 5.05 and a beta of 2.13.

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

Analysts Set New Price Targets

Several research firms recently weighed in on SYM. The Goldman Sachs Group reissued a “sell” rating and set a $50.00 price target on shares of Symbotic in a report on Thursday, January 15th. DA Davidson upped their price target on shares of Symbotic from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Needham & Company LLC lifted their price objective on shares of Symbotic from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Northland Securities set a $73.00 target price on shares of Symbotic in a research report on Thursday, February 5th. Finally, Barclays lifted their price target on shares of Symbotic from $42.00 to $44.00 and gave the company an “underweight” rating in a research report on Monday, March 16th. Six analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $60.71.

Insider Buying and Selling at Symbotic

In related news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $47.70, for a total value of $95,400.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO James Kuffner sold 3,669 shares of the company’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $56.84, for a total value of $208,545.96. Following the sale, the chief technology officer owned 151,061 shares of the company’s stock, valued at $8,586,307.24. The trade was a 2.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 193,492 shares of company stock worth $11,449,123 in the last three months. Company insiders own 8.16% of the company’s stock.

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.