J. Safra Sarasin Holding AG Invests $233,000 in Symbotic Inc. $SYM

Key Points

• J. Safra Sarasin Holding AG has invested approximately $233,000 in Symbotic Inc., acquiring 6,000 shares during the second quarter, according to a recent SEC filing.
• Several large investors, including MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. and Raymond James Financial Inc., have increased their stake in Symbotic, showing strong institutional interest in the company.
• Symbotic's recent earnings report revealed a quarterly revenue of $592.12 million, surpassing analysts' expectations, despite reporting a loss of $0.05 per share.

J. Safra Sarasin Holding AG acquired a new stake in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,000 shares of the company's stock, valued at approximately $233,000.

A number of other large investors have also added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Symbotic by 16.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,343,902 shares of the company's stock valued at $27,155,000 after buying an additional 187,538 shares during the last quarter. Raymond James Financial Inc. grew its holdings in shares of Symbotic by 12.1% in the first quarter. Raymond James Financial Inc. now owns 980,922 shares of the company's stock worth $19,824,000 after acquiring an additional 105,616 shares during the period. Exchange Traded Concepts LLC grew its holdings in shares of Symbotic by 18.0% in the first quarter. Exchange Traded Concepts LLC now owns 680,734 shares of the company's stock worth $13,758,000 after acquiring an additional 104,068 shares during the period. TCW Group Inc. increased its position in Symbotic by 1.8% during the first quarter. TCW Group Inc. now owns 593,442 shares of the company's stock valued at $11,993,000 after acquiring an additional 10,487 shares during the last quarter. Finally, Amanah Holdings Trust bought a new position in Symbotic in the second quarter valued at about $19,824,000.

Insider Transactions at Symbotic

In related news, Director Rollin L. Ford sold 90,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $51.57, for a total transaction of $4,641,300.00. Following the completion of the sale, the director owned 14,507 shares in the company, valued at approximately $748,125.99. This trade represents a 86.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William M. Boyd III sold 25,000 shares of Symbotic stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $49.00, for a total value of $1,225,000.00. Following the sale, the insider directly owned 34,544 shares in the company, valued at $1,692,656. This trade represents a 41.99% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 479,032 shares of company stock valued at $23,711,528. 0.60% of the stock is owned by corporate insiders.

Symbotic Price Performance

Shares of NASDAQ SYM opened at $63.10 on Monday. The firm has a fifty day moving average price of $51.69 and a 200-day moving average price of $37.87. The stock has a market cap of $37.26 billion, a PE ratio of -901.30, a price-to-earnings-growth ratio of 12.23 and a beta of 2.06. Symbotic Inc. has a 1 year low of $16.32 and a 1 year high of $65.17.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SYM shares. Arete downgraded Symbotic from a "buy" rating to a "neutral" rating and set a $50.00 price target for the company. in a research note on Friday, July 25th. Arete Research downgraded shares of Symbotic from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. UBS Group restated a "sell" rating and set a $35.00 target price (up from $27.00) on shares of Symbotic in a research report on Tuesday, September 23rd. Deutsche Bank Aktiengesellschaft downgraded shares of Symbotic from a "buy" rating to a "hold" rating and set a $51.00 price target on the stock. in a research report on Friday, July 18th. Finally, Wall Street Zen cut shares of Symbotic from a "hold" rating to a "sell" rating in a research note on Friday, September 26th. Seven research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Symbotic presently has a consensus rating of "Hold" and an average target price of $45.00.

About Symbotic

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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