This afternoon we watched Symbotic drop -5.2% to a price of $39.77 per share. The Large-Cap Farm & Heavy Construction Machinery company is now trading -27.48% below its average target price of $54.85. Analysts have set target prices ranging from $44.0 to $65.0 per share for Symbotic, and have given the stock an average rating of buy.
Symbotic has an elevated short interest of 20.6%. The stock's short ratio, or the number of days needed for all shorts to cover their positions, is 5.72. The company's insiders own 18.41% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. 69.6% of Symbotic shares are held by institutional investors, which indicates a high level of confidence in the stock.
Institutions Invested in Symbotic
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-12-31 | Softbank Group Corporation | 45% | 39,825,312 | $1,584,051,845 |
| 2023-12-31 | Svf Sponsor III (de) LLC | 10% | 9,090,000 | $361,554,763 |
| 2023-12-31 | Vanguard Group Inc | 2% | 2,081,034 | $82,773,130 |
| 2023-12-31 | 1832 Asset Management L.P. | 1% | 1,055,400 | $41,978,536 |
| 2023-12-31 | Voloridge Investment Management, LLC | 1% | 882,734 | $35,110,746 |
| 2023-12-31 | Millennium Management Llc | 1% | 717,518 | $28,539,279 |
| 2023-12-31 | Mirae Asset Global Investments Co., Ltd. | 1% | 687,351 | $27,339,387 |
| 2023-12-31 | FMR, LLC | 1% | 610,650 | $24,288,604 |
| 2023-12-31 | Raymond James & Associates, Inc. | 1% | 579,876 | $23,064,568 |
| 2023-12-31 | First Trust Advisors LP | 1% | 510,237 | $20,294,677 |
For these reasons, we consider that the Symbotic is the subject of mixed market sentiment.
