Hunter Associates Investment Management LLC Has $1.19 Million Stake in Symbotic Inc. (NASDAQ:SYM)

Hunter Associates Investment Management LLC decreased its stake in Symbotic Inc. (NASDAQ:SYM) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,174 shares of the company’s stock after selling 294 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in Symbotic were worth $1,190,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Barclays PLC increased its holdings in shares of Symbotic by 195.5% in the third quarter. Barclays PLC now owns 8,008 shares of the company’s stock worth $268,000 after acquiring an additional 5,298 shares in the last quarter. Aigen Investment Management LP bought a new stake in shares of Symbotic in the third quarter worth about $545,000. LPL Financial LLC increased its holdings in shares of Symbotic by 578.0% in the third quarter. LPL Financial LLC now owns 102,059 shares of the company’s stock worth $3,412,000 after acquiring an additional 87,006 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Symbotic by 176.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 75,527 shares of the company’s stock worth $2,525,000 after acquiring an additional 48,214 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Symbotic in the third quarter worth about $1,101,000.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SYM shares. Robert W. Baird lowered their price target on Symbotic from $54.00 to $52.00 and set an “outperform” rating for the company in a report on Tuesday, February 6th. KeyCorp decreased their price objective on Symbotic from $63.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, February 6th. William Blair reiterated a “market perform” rating on shares of Symbotic in a report on Tuesday, February 6th. Needham & Company LLC decreased their price objective on Symbotic from $58.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $60.00 price objective on shares of Symbotic in a report on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Symbotic Stock Performance

NASDAQ SYM traded down $0.36 during trading hours on Friday, hitting $39.73. 1,168,076 shares of the company traded hands, compared to its average volume of 872,738. The business’s 50-day moving average is $43.63 and its 200-day moving average is $44.00. Symbotic Inc. has a twelve month low of $22.40 and a twelve month high of $64.14.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings results on Monday, February 5th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. The firm had revenue of $368.45 million during the quarter, compared to analysts’ expectations of $370.28 million. Analysts predict that Symbotic Inc. will post -0.02 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Richard B. Cohen sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $38.32, for a total value of $191,600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Richard B. Cohen sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $38.32, for a total value of $191,600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $51.50, for a total value of $103,000.00. The disclosure for this sale can be found here. Insiders sold a total of 7,188,628 shares of company stock valued at $279,026,777 over the last three months. Insiders own 38.30% of the company’s stock.

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.