Van ECK Associates Corp Sells 896 Shares of Symbotic Inc. (NASDAQ:SYM)

Van ECK Associates Corp trimmed its holdings in shares of Symbotic Inc. (NASDAQ:SYM) by 25.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,601 shares of the company’s stock after selling 896 shares during the period. Van ECK Associates Corp’s holdings in Symbotic were worth $62,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in Symbotic by 10.2% during the 3rd quarter. Geode Capital Management LLC now owns 503,758 shares of the company’s stock worth $12,290,000 after acquiring an additional 46,721 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Symbotic during the third quarter valued at about $1,029,000. Capital Market Strategies LLC purchased a new stake in shares of Symbotic during the fourth quarter valued at about $802,000. Baillie Gifford & Co. lifted its position in shares of Symbotic by 32.0% during the third quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock valued at $343,192,000 after buying an additional 3,410,050 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Symbotic by 10.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 219,074 shares of the company’s stock valued at $5,343,000 after buying an additional 20,469 shares during the last quarter.

Symbotic Stock Down 6.2 %

Shares of SYM opened at $24.47 on Monday. Symbotic Inc. has a 52-week low of $17.11 and a 52-week high of $50.40. The firm’s fifty day moving average is $27.22 and its two-hundred day moving average is $26.48. The stock has a market cap of $14.40 billion, a PE ratio of -349.52, a price-to-earnings-growth ratio of 6.48 and a beta of 1.79.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, topping 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%. As a group, research analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current year.

Insider Transactions at Symbotic

In other Symbotic news, insider Michael David Dunn sold 63,867 shares of Symbotic stock in a transaction dated 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 completion of the transaction, the insider now directly owns 24,055 shares of the company’s stock, valued at $723,574.40. The trade was a 72.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider William M. Boyd III sold 2,660 shares of Symbotic stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $27.60, for a total value of $73,416.00. Following the completion of the transaction, the insider now directly owns 40,812 shares of the company’s stock, valued at approximately $1,126,411.20. This represents a 6.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,114 shares of company stock worth $3,238,557 in the last quarter. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Raymond James lowered shares of Symbotic from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 6th. TD Cowen raised their price target on shares of Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Citigroup reissued a “buy” rating and set a $37.00 price target on shares of Symbotic in a research report on Monday, January 13th. UBS Group dropped their price objective on shares of Symbotic from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Finally, Northland Securities raised their price objective on shares of Symbotic from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $38.33.

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.