Cwm LLC Has $441,000 Stock Holdings in Symbotic Inc. $SYM

Key Points

• Cwm LLC significantly increased its stake in Symbotic Inc. by 336.7% during the second quarter, holding a total of 11,363 shares valued at $441,000.
• Insider sales included 30,000 shares sold by Director Todd Krasnow and 90,000 shares sold by Director Rollin L. Ford, indicating a substantial decrease in ownership for the latter by 86.12%.
• Symbotic's most recent earnings report showed a net loss of ($0.05) EPS, missing estimates, despite reporting a revenue increase of 25.9% year-over-year.

Cwm LLC boosted its position in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 336.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,363 shares of the company's stock after purchasing an additional 8,761 shares during the period. Cwm LLC's holdings in Symbotic were worth $441,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. AdvisorNet Financial Inc acquired a new stake in Symbotic during the second quarter valued at $32,000. GAMMA Investing LLC boosted its position in Symbotic by 1,812.2% during the first quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock valued at $29,000 after purchasing an additional 1,341 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Symbotic by 24.0% during the second quarter. Farther Finance Advisors LLC now owns 1,765 shares of the company's stock valued at $69,000 after purchasing an additional 342 shares during the last quarter. Ulland Investment Advisors LLC boosted its position in Symbotic by 45.9% during the second quarter. Ulland Investment Advisors LLC now owns 2,225 shares of the company's stock valued at $86,000 after purchasing an additional 700 shares during the last quarter. Finally, AlphaQuest LLC boosted its position in Symbotic by 318.5% during the first quarter. AlphaQuest LLC now owns 2,800 shares of the company's stock valued at $57,000 after purchasing an additional 2,131 shares during the last quarter.

Insiders Place Their Bets

In other news, Director Todd Krasnow sold 30,000 shares of Symbotic stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $51.54, for a total value of $1,546,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rollin L. Ford sold 90,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $51.57, for a total value of $4,641,300.00. Following the transaction, the director owned 14,507 shares in the company, valued at $748,125.99. This represents a 86.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 490,348 shares of company stock valued at $25,157,458 in the last ninety days. Company insiders own 0.60% of the company's stock.

Symbotic Stock Performance

Symbotic stock opened at $65.10 on Friday. The business's 50-day simple moving average is $56.06 and its 200-day simple moving average is $42.63. The firm has a market capitalization of $38.44 billion, a PE ratio of -929.87, a PEG ratio of 11.42 and a beta of 2.06. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $79.58.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.08). The business had revenue of $592.12 million during the quarter, compared to the consensus estimate of $533.55 million. Symbotic had a negative return on equity of 2.02% and a negative net margin of 0.38%.The company's revenue for the quarter was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. Research analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on SYM. UBS Group reissued a "sell" rating and set a $35.00 price objective (up previously from $27.00) on shares of Symbotic in a research report on Tuesday, September 23rd. Arete Research lowered Symbotic from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Zacks Research upgraded Symbotic from a "strong sell" rating to a "hold" rating in a report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft lowered Symbotic from a "buy" rating to a "hold" rating and set a $51.00 target price on the stock. in a report on Friday, July 18th. Finally, Barclays assumed coverage on Symbotic in a report on Tuesday, October 7th. They set an "underweight" rating and a $38.00 target price on the stock. Seven analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $44.61.

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.

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