Mitsubishi UFJ Trust & Banking Corp Sells 12,634 Shares of Symbotic Inc. $SYM

Mitsubishi UFJ Trust & Banking Corp trimmed its position in shares of Symbotic Inc. (NASDAQ:SYM) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 292,977 shares of the company’s stock after selling 12,634 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Symbotic were worth $15,791,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SYM. Royal Bank of Canada lifted its holdings in shares of Symbotic by 28.8% during the first quarter. Royal Bank of Canada now owns 84,856 shares of the company’s stock valued at $1,714,000 after purchasing an additional 18,967 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Symbotic by 15.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 84,899 shares of the company’s stock valued at $1,716,000 after buying an additional 11,098 shares during the period. Farther Finance Advisors LLC lifted its holdings in Symbotic by 24.0% in the second quarter. Farther Finance Advisors LLC now owns 1,765 shares of the company’s stock valued at $69,000 after acquiring an additional 342 shares during the period. PFG Investments LLC purchased a new stake in shares of Symbotic during the 2nd quarter valued at about $255,000. Finally, J. Safra Sarasin Holding AG purchased a new stake in Symbotic during the second quarter valued at approximately $233,000.

Insiders Place Their Bets

In related news, major shareholder Svf Sponsor Iii (De) Llc sold 3,500,000 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $53.21, for a total value of $186,235,000.00. Following the completion of the sale, the insider directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO James Kuffner sold 77,321 shares of the stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $59.76, for a total transaction of $4,620,702.96. Following the transaction, the chief technology officer owned 144,982 shares in the company, valued at approximately $8,664,124.32. The trade was a 34.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 7,149,307 shares of company stock worth $382,367,952. 8.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on SYM. Zacks Research cut Symbotic from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. Wall Street Zen raised shares of Symbotic from a “sell” rating to a “hold” rating in a report on Sunday, November 30th. Cantor Fitzgerald boosted their target price on Symbotic from $60.00 to $82.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. Needham & Company LLC upped their price target on shares of Symbotic from $57.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Symbotic from $55.00 to $63.00 and gave the stock a “hold” rating in a research note on Tuesday, November 25th. Six investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $56.79.

Symbotic Price Performance

SYM stock opened at $58.99 on Wednesday. The company has a market capitalization of $34.89 billion, a PE ratio of -393.27, a P/E/G ratio of 16.87 and a beta of 2.13. The firm’s 50-day moving average is $64.63 and its 200 day moving average is $60.18. Symbotic Inc. has a 12 month low of $16.32 and a 12 month high of $87.88.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Monday, November 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). The firm had revenue of $618.46 million during the quarter, compared to analysts’ expectations of $604.00 million. Symbotic had a negative net margin of 0.75% and a negative return on equity of 3.89%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 EPS. Sell-side analysts forecast that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

About Symbotic

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.