Svf Sponsor Iii (De) Llc Sells 3,500,000 Shares of Symbotic (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) major shareholder Svf Sponsor Iii (De) Llc sold 3,500,000 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $53.21, for a total transaction of $186,235,000.00. Following the completion of the transaction, the insider owned 5,590,000 shares of the company’s stock, valued at $297,443,900. This represents a 38.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Symbotic Stock Performance

SYM stock opened at $62.17 on Wednesday. Symbotic Inc. has a one year low of $16.32 and a one year high of $87.88. The firm has a market cap of $36.77 billion, a price-to-earnings ratio of -414.47, a PEG ratio of 17.16 and a beta of 2.10. The firm has a 50-day simple moving average of $68.38 and a two-hundred day simple moving average of $53.30.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Monday, November 24th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.11). Symbotic had a negative return on equity of 3.89% and a negative net margin of 0.75%.The firm had revenue of $618.46 million for the quarter, compared to the consensus estimate of $604.00 million. During the same quarter last year, the firm earned $0.47 EPS. The company’s revenue was up 9.5% compared to the same quarter last year. As a group, equities analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SYM has been the subject of several analyst reports. Zacks Research upgraded Symbotic from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. Needham & Company LLC upped their target price on Symbotic from $57.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Northland Securities raised their price target on Symbotic from $56.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, November 25th. DA Davidson restated a “neutral” rating and set a $47.00 price objective on shares of Symbotic in a report on Tuesday, November 25th. Finally, Cowen reaffirmed a “buy” rating on shares of Symbotic in a research report on Wednesday, December 3rd. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $56.50.

Institutional Investors Weigh In On Symbotic

Large investors have recently bought and sold shares of the company. Allworth Financial LP increased its holdings in Symbotic by 504.2% in the 3rd quarter. Allworth Financial LP now owns 2,000 shares of the company’s stock worth $108,000 after buying an additional 1,669 shares during the period. IFP Advisors Inc boosted its holdings in shares of Symbotic by 96.4% in the 3rd quarter. IFP Advisors Inc now owns 1,516 shares of the company’s stock valued at $82,000 after acquiring an additional 744 shares during the last quarter. Strategic Advocates LLC acquired a new stake in shares of Symbotic in the third quarter worth $42,000. CIBC Private Wealth Group LLC increased its stake in shares of Symbotic by 209.7% in the third quarter. CIBC Private Wealth Group LLC now owns 1,846 shares of the company’s stock worth $99,000 after acquiring an additional 1,250 shares during the period. Finally, CIBC Bancorp USA Inc. purchased a new position in shares of Symbotic during the third quarter worth $315,000.

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.