Bank of New York Mellon Corp Sells 18,411 Shares of Symbotic Inc. (NASDAQ:SYM)

Bank of New York Mellon Corp cut its position in Symbotic Inc. (NASDAQ:SYM) by 29.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,607 shares of the company’s stock after selling 18,411 shares during the quarter. Bank of New York Mellon Corp’s holdings in Symbotic were worth $1,058,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. IFP Advisors Inc lifted its stake in Symbotic by 58.2% during the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock worth $32,000 after purchasing an additional 503 shares during the last quarter. Quest Partners LLC raised its holdings in shares of Symbotic by 19,307.7% during the 3rd quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock worth $62,000 after buying an additional 2,510 shares in the last quarter. MCF Advisors LLC bought a new stake in shares of Symbotic during the 4th quarter worth $85,000. Quarry LP boosted its stake in Symbotic by 89.9% in the third quarter. Quarry LP now owns 3,508 shares of the company’s stock valued at $86,000 after buying an additional 1,661 shares in the last quarter. Finally, National Bank of Canada FI grew its position 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.

Insider Transactions at Symbotic

In other news, insider Michael David Dunn sold 1,971 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $30.00, for a total value of $59,130.00. Following the completion of the sale, the insider now directly owns 22,301 shares in the company, valued at $669,030. This trade represents a 8.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $24.04, for a total value of $48,080.00. Following the completion of the sale, the director now directly owns 214,036 shares of the company’s stock, valued at $5,145,425.44. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,442 shares of company stock valued at $2,120,023 in the last quarter. 0.60% of the stock is currently owned by company insiders.

Symbotic Stock Up 5.0 %

SYM stock opened at $23.50 on Tuesday. The company’s fifty day simple moving average is $26.06 and its 200 day simple moving average is $26.64. Symbotic Inc. has a 12-month low of $17.11 and a 12-month high of $50.41. The firm has a market cap of $13.83 billion, a price-to-earnings ratio of -335.67, a PEG ratio of 6.48 and a beta of 1.85.

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

Analyst Ratings Changes

SYM has been the subject of several research reports. The Goldman Sachs Group dropped their price objective on shares of Symbotic from $28.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 price objective on shares of Symbotic in a report on Thursday, February 6th. Raymond James lowered Symbotic from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 6th. Needham & Company LLC dropped their target price on Symbotic from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Finally, BWS Financial restated a “sell” rating and set a $10.00 price target on shares of Symbotic in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $38.20.

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.