Dimensional Fund Advisors LP Sells 11,404 Shares of Symbotic Inc. (NASDAQ:SYM)

Dimensional Fund Advisors LP lessened its stake in shares of Symbotic Inc. (NASDAQ:SYM) by 18.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,781 shares of the company’s stock after selling 11,404 shares during the period. Dimensional Fund Advisors LP’s holdings in Symbotic were worth $1,181,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SYM. IFP Advisors Inc boosted its holdings 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 in the last quarter. Private Trust Co. NA bought a new position in Symbotic during the 4th quarter worth $47,000. Pilgrim Partners Asia Pte Ltd bought a new position in Symbotic during the 4th quarter worth $47,000. Jones Financial Companies Lllp raised its position in Symbotic by 154.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company’s stock worth $58,000 after purchasing an additional 1,490 shares during the last quarter. Finally, MCF Advisors LLC bought a new position in Symbotic during the 4th quarter worth $85,000.

Insider Buying and Selling at Symbotic

In other news, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $27.32, for a total value of $54,640.00. Following the transaction, the director now directly owns 194,036 shares of the company’s stock, valued at approximately $5,301,063.52. This trade represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Carol J. Hibbard sold 4,628 shares of Symbotic stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $22.62, for a total transaction of $104,685.36. Following the sale, the chief financial officer now owns 54,011 shares of the company’s stock, valued at approximately $1,221,728.82. This represents a 7.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,847 shares of company stock worth $1,733,870. 0.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $60.00 price objective on shares of Symbotic in a research report on Thursday, February 6th. BWS Financial reaffirmed a “sell” rating and issued a $10.00 target price on shares of Symbotic in a research report on Wednesday, April 2nd. Northland Securities boosted their target price on Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Citigroup decreased their target price on Symbotic from $37.00 to $29.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Needham & Company LLC cut their price target on Symbotic from $35.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $37.20.

Symbotic Stock Performance

Shares of NASDAQ SYM opened at $26.94 on Friday. The company has a market cap of $15.85 billion, a P/E ratio of -384.80, a P/E/G ratio of 6.48 and a beta of 1.85. The firm’s fifty day moving average is $21.67 and its two-hundred day moving average is $25.69. Symbotic Inc. has a 52-week low of $16.32 and a 52-week high of $47.42.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. The company had revenue of $549.65 million during the quarter, compared to analysts’ expectations of $522.36 million. During the same period last year, the firm earned ($0.07) earnings per share. Symbotic’s quarterly revenue was up 39.7% on a year-over-year basis. As a group, analysts forecast that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

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.