Bank of New York Mellon Corp Has $1.06 Million Stock Position in Symbotic Inc. (NASDAQ:SYM)

Bank of New York Mellon Corp lessened its holdings in Symbotic Inc. (NASDAQ:SYM) by 29.2% during the fourth quarter, HoldingsChannel reports. The fund 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.

Several other large investors have also added to or reduced their stakes in the business. IFP Advisors Inc increased its holdings in Symbotic by 58.2% during the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock worth $32,000 after purchasing an additional 503 shares in the last quarter. Quest Partners LLC grew its holdings in Symbotic by 19,307.7% during the third 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 purchased a new stake in Symbotic in the 4th quarter valued at $85,000. Quarry LP lifted its stake in Symbotic by 89.9% during the 3rd quarter. Quarry LP now owns 3,508 shares of the company’s stock valued at $86,000 after acquiring an additional 1,661 shares in the last quarter. Finally, National Bank of Canada FI boosted its holdings in Symbotic by 36.8% during the 3rd quarter. National Bank of Canada FI now owns 3,557 shares of the company’s stock worth $87,000 after acquiring an additional 957 shares during the last quarter.

Insider Transactions at Symbotic

In related news, 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 sale, the director now owns 10,447 shares of the company’s stock, valued at approximately $271,830.94. This trade represents a 73.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William M. Boyd III sold 2,455 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $22.31, for a total value of $54,771.05. Following the completion of the transaction, the insider now owns 39,659 shares in the company, valued at $884,792.29. This represents a 5.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,442 shares of company stock valued at $2,120,023 over the last three months. Company insiders own 0.60% of the company’s stock.

Symbotic Stock Up 5.0 %

NASDAQ SYM opened at $23.50 on Tuesday. The company has a market cap of $13.83 billion, a PE ratio of -335.67, a price-to-earnings-growth ratio of 6.48 and a beta of 1.85. Symbotic Inc. has a 52 week low of $17.11 and a 52 week high of $50.41. The firm’s 50-day simple moving average is $26.06 and its two-hundred day simple moving average is $26.64.

Symbotic (NASDAQ:SYM) last announced 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 negative net margin of 0.38% and a positive return on equity of 5.11%. As a group, equities research analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on SYM shares. KeyCorp reiterated a “sector weight” rating on shares of Symbotic in a report on Wednesday, November 27th. Needham & Company LLC dropped their target price on shares of Symbotic from $35.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. William Blair reaffirmed a “market perform” rating on shares of Symbotic in a report on Thursday, December 5th. The Goldman Sachs Group dropped their price target on Symbotic from $28.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. Finally, Northland Securities upped their price objective on Symbotic from $35.00 to $41.00 and gave the company 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 given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $38.20.

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.