AlphaCentric Advisors LLC Sells 5,000 Shares of Symbotic Inc. (NASDAQ:SYM)

AlphaCentric Advisors LLC cut its holdings in shares of Symbotic Inc. (NASDAQ:SYM) by 20.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 20,000 shares of the company’s stock after selling 5,000 shares during the period. AlphaCentric Advisors LLC’s holdings in Symbotic were worth $474,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SYM. Castleview Partners LLC grew its stake in shares of Symbotic by 50.0% in the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after buying an additional 500 shares in the last quarter. Van ECK Associates Corp lifted its stake in Symbotic by 28.4% in the third quarter. Van ECK Associates Corp now owns 3,497 shares of the company’s stock valued at $85,000 after acquiring an additional 774 shares during the last quarter. National Bank of Canada FI lifted its stake in Symbotic by 36.8% in the third quarter. National Bank of Canada FI now owns 3,557 shares of the company’s stock valued at $87,000 after acquiring an additional 957 shares during the last quarter. RiverPark Advisors LLC grew its position in shares of Symbotic by 147.1% in the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock valued at $50,000 after acquiring an additional 1,211 shares during the period. Finally, nVerses Capital LLC increased its stake in shares of Symbotic by 31.1% during the 3rd quarter. nVerses Capital LLC now owns 5,900 shares of the company’s stock worth $144,000 after purchasing an additional 1,400 shares during the last quarter.

Wall Street Analysts Forecast Growth

SYM has been the subject of several recent analyst reports. Northland Securities raised their target price on shares of Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. The Goldman Sachs Group cut their price objective on Symbotic from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. Citigroup reissued a “buy” rating and set a $37.00 target price on shares of Symbotic in a report on Monday, January 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $60.00 price target on shares of Symbotic in a report on Thursday, February 6th. Finally, Oppenheimer started coverage on shares of Symbotic in a research report on Wednesday, January 15th. They set an “outperform” rating and a $35.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $38.33.

Symbotic Price Performance

Shares of NASDAQ SYM opened at $27.06 on Monday. The stock has a market capitalization of $15.90 billion, a PE ratio of -386.52, a P/E/G ratio of 6.45 and a beta of 1.79. Symbotic Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $50.40. The business has a fifty day moving average price of $27.30 and a two-hundred day moving average price of $26.39.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. On average, equities analysts expect that Symbotic Inc. will post 0.13 EPS for the current year.

Insider Transactions at Symbotic

In other news, CFO Carol J. Hibbard sold 4,055 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $30.70, for a total transaction of $124,488.50. Following the completion of the transaction, the chief financial officer now owns 44,386 shares of the company’s stock, valued at approximately $1,362,650.20. The trade was a 8.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael David Dunn sold 63,867 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $30.08, for a total value of $1,921,119.36. Following the sale, the insider now owns 24,055 shares of the company’s stock, valued at approximately $723,574.40. This represents a 72.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 104,454 shares of company stock valued at $3,110,501. Company insiders own 0.60% of the company’s stock.

Symbotic Company 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.