Vista Investment Partners LLC Has $268,000 Stake in Symbotic Inc. (NASDAQ:SYM)

Vista Investment Partners LLC reduced its stake in Symbotic Inc. (NASDAQ:SYM) by 43.1% during the fourth quarter, HoldingsChannel reports. The firm owned 11,299 shares of the company’s stock after selling 8,544 shares during the quarter. Vista Investment Partners LLC’s holdings in Symbotic were worth $268,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SYM. Baillie Gifford & Co. raised its position in Symbotic by 32.0% in the third quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock valued at $343,192,000 after purchasing an additional 3,410,050 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Symbotic by 76.8% in the third quarter. Exchange Traded Concepts LLC now owns 873,987 shares of the company’s stock valued at $21,317,000 after buying an additional 379,726 shares during the period. Millennium Management LLC raised its holdings in Symbotic by 6,694.5% in the 2nd quarter. Millennium Management LLC now owns 335,649 shares of the company’s stock valued at $11,801,000 after buying an additional 330,709 shares during the last quarter. Thematics Asset Management raised its holdings in Symbotic by 30.1% in the 3rd quarter. Thematics Asset Management now owns 1,048,170 shares of the company’s stock valued at $25,565,000 after buying an additional 242,661 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in Symbotic during the 2nd quarter worth approximately $4,207,000.

Symbotic Price Performance

NASDAQ:SYM opened at $31.38 on Friday. Symbotic Inc. has a one year low of $17.11 and a one year high of $52.20. The firm has a 50-day moving average of $27.98 and a 200-day moving average of $27.35.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Monday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The business had revenue of $576.77 million during the quarter, compared to the consensus estimate of $470.24 million. During the same quarter in the prior year, the company posted ($0.08) earnings per share. Symbotic’s revenue was up 47.2% compared to the same quarter last year. As a group, sell-side analysts expect that Symbotic Inc. will post 0.13 EPS for the current year.

Analyst Ratings Changes

SYM has been the subject of several recent research reports. DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Wednesday, January 8th. BWS Financial restated a “sell” rating and issued a $10.00 price objective on shares of Symbotic in a report on Tuesday, January 21st. UBS Group cut their target price on Symbotic from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. The Goldman Sachs Group decreased their price target on Symbotic from $34.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, December 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Symbotic in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.73.

Insiders Place Their Bets

In related news, insider Michael David Dunn sold 13,114 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $32.19, for a total transaction of $422,139.66. Following the completion of the transaction, the insider now owns 18,746 shares in the company, valued at approximately $603,433.74. This represents a 41.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William M. Boyd III sold 8,826 shares of Symbotic stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $28.33, for a total transaction of $250,040.58. Following the completion of the sale, the insider now directly owns 23,012 shares in the company, valued at approximately $651,929.96. This represents a 27.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 117,993 shares of company stock valued at $3,490,555 in the last 90 days. 38.30% of the stock is currently owned by corporate insiders.

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.