US Bancorp DE Sells 3,480 Shares of Symbotic Inc. (NASDAQ:SYM)

US Bancorp DE reduced its stake in shares of Symbotic Inc. (NASDAQ:SYM) by 31.3% in the fourth quarter, Holdings Channel reports. The fund owned 7,624 shares of the company’s stock after selling 3,480 shares during the quarter. US Bancorp DE’s holdings in Symbotic were worth $181,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. IFP Advisors Inc grew its position in shares of Symbotic by 58.2% during the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock valued at $32,000 after acquiring an additional 503 shares during the period. National Bank of Canada FI boosted its holdings in Symbotic by 36.8% in the 3rd quarter. National Bank of Canada FI now owns 3,557 shares of the company’s stock worth $87,000 after buying an additional 957 shares during the period. RiverPark Advisors LLC boosted its holdings in Symbotic by 147.1% in the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after buying an additional 1,211 shares during the period. Tanaka Capital Management Inc. boosted its holdings in Symbotic by 3.7% in the 3rd quarter. Tanaka Capital Management Inc. now owns 43,092 shares of the company’s stock worth $1,051,000 after buying an additional 1,555 shares during the period. Finally, Quarry LP boosted its holdings in Symbotic by 89.9% in the 3rd quarter. Quarry LP now owns 3,508 shares of the company’s stock worth $86,000 after buying an additional 1,661 shares during the period.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Raymond James downgraded shares of Symbotic from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. KeyCorp reaffirmed a “sector weight” rating on shares of Symbotic in a report on Wednesday, November 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $60.00 price objective on shares of Symbotic in a report on Thursday, February 6th. 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 report on Friday, January 17th. Finally, Citigroup reissued a “buy” rating and issued a $37.00 price target on shares of Symbotic in a report on Monday, January 13th. 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. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $38.20.

Insider Activity

In related news, insider Michael David Dunn sold 1,971 shares of Symbotic stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $30.00, for a total value of $59,130.00. Following the transaction, the insider now 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rollin L. Ford sold 28,740 shares of Symbotic stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $26.02, for a total transaction of $747,814.80. Following the completion of the transaction, the director now owns 10,447 shares in the company, valued at approximately $271,830.94. The trade was a 73.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,987 shares of company stock worth $2,065,252. 0.60% of the stock is currently owned by corporate insiders.

Symbotic Stock Performance

Symbotic stock opened at $21.65 on Friday. The firm’s fifty day moving average price is $26.52 and its 200-day moving average price is $26.45. The stock has a market cap of $12.74 billion, a P/E ratio of -309.24, a price-to-earnings-growth ratio of 6.48 and a beta of 1.85. Symbotic Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $50.41.

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

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.