Thematics Asset Management Reduces Stock Position in Symbotic Inc. (NASDAQ:SYM)

Thematics Asset Management reduced its holdings in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 28.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 754,862 shares of the company's stock after selling 293,308 shares during the period. Thematics Asset Management owned about 0.13% of Symbotic worth $17,898,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SYM. IFP Advisors Inc increased its stake in shares of Symbotic by 58.2% during the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock valued at $32,000 after buying an additional 503 shares during the period. Commonwealth Equity Services LLC increased its position in Symbotic by 1.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 48,672 shares of the company's stock valued at $1,154,000 after purchasing an additional 619 shares during the period. Geode Capital Management LLC raised its holdings in shares of Symbotic by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 505,114 shares of the company's stock valued at $11,981,000 after purchasing an additional 1,356 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Symbotic by 154.1% in 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 period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Symbotic by 11.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 16,451 shares of the company's stock valued at $422,000 after purchasing an additional 1,646 shares in the last quarter.

Insider Transactions at Symbotic

In other news, insider Michael David Dunn sold 1,971 shares of Symbotic stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $30.00, for a total value of $59,130.00. Following the completion of the sale, the insider now directly owns 22,301 shares of the company's stock, valued at approximately $669,030. The trade was a 8.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider William M. Boyd III sold 2,660 shares of the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $20.62, for a total value of $54,849.20. Following the transaction, the insider now directly owns 36,999 shares in the company, valued at approximately $762,919.38. The trade was a 6.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,028 shares of company stock worth $1,532,091 in the last quarter. Company insiders own 0.60% of the company's stock.

Symbotic Stock Up 0.1 %

Shares of NASDAQ SYM traded up $0.03 during trading on Friday, hitting $22.09. The company had a trading volume of 603,089 shares, compared to its average volume of 1,929,583. Symbotic Inc. has a fifty-two week low of $16.32 and a fifty-two week high of $48.98. The stock has a fifty day simple moving average of $21.61 and a two-hundred day simple moving average of $26.14. The firm has a market capitalization of $13.00 billion, a price-to-earnings ratio of -315.88, a price-to-earnings-growth ratio of 6.48 and a beta of 1.86.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping 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 anticipate that Symbotic Inc. will post 0.13 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on SYM. The Goldman Sachs Group lowered their target price on Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Oppenheimer started coverage on shares of Symbotic in a report on Wednesday, January 15th. They issued an "outperform" rating and a $35.00 target price for the company. Citigroup lowered their price target on shares of Symbotic from $37.00 to $29.00 and set a "buy" rating on the stock in a report on Monday, April 14th. DA Davidson raised shares of Symbotic from a "neutral" rating to a "buy" rating and set a $35.00 price objective on the stock in a research report on Wednesday, January 8th. Finally, BWS Financial reissued a "sell" rating and set a $10.00 target price on shares of Symbotic in a research report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Symbotic currently has a consensus rating of "Hold" and a consensus price target of $37.20.

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.