Symbotic Inc. $SYM Shares Sold by Thematics Asset Management

Key Points

• Thematics Asset Management reduced its holdings in Symbotic Inc. by 1.9%, now owning 740,544 shares valued at approximately $14.97 million.
• Several large investors increased their stakes in Symbotic, with AlphaQuest LLC growing its stake by 318.5% during the first quarter.
• Symbotic reported a quarterly revenue increase of 25.9% year-over-year, although it missed earnings expectations with an EPS of ($0.05).

Thematics Asset Management trimmed its holdings in Symbotic Inc. (NASDAQ:SYM - Free Report) by 1.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 740,544 shares of the company's stock after selling 14,318 shares during the period. Thematics Asset Management owned 0.13% of Symbotic worth $14,966,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. AlphaQuest LLC grew its stake in Symbotic by 318.5% in the 1st quarter. AlphaQuest LLC now owns 2,800 shares of the company's stock valued at $57,000 after acquiring an additional 2,131 shares during the last quarter. Raymond James Financial Inc. grew its stake in Symbotic by 12.1% in the 1st quarter. Raymond James Financial Inc. now owns 980,922 shares of the company's stock valued at $19,824,000 after acquiring an additional 105,616 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Symbotic by 28.8% in the 1st quarter. HighTower Advisors LLC now owns 33,955 shares of the company's stock valued at $686,000 after purchasing an additional 7,584 shares in the last quarter. Swiss National Bank lifted its holdings in Symbotic by 0.9% in the 1st quarter. Swiss National Bank now owns 82,400 shares of the company's stock valued at $1,665,000 after purchasing an additional 700 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Symbotic by 4.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,208 shares of the company's stock valued at $348,000 after purchasing an additional 757 shares in the last quarter.

Insider Transactions at Symbotic

In related news, Director Rollin L. Ford sold 90,000 shares of the firm's stock in a transaction that occurred on 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 approximately $748,125.99. This trade represents a 86.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider William M. Boyd III sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $49.00, for a total transaction of $1,225,000.00. Following the completion of the transaction, the insider owned 34,544 shares in the company, valued at $1,692,656. The trade was a 41.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 270,241 shares of company stock valued at $13,789,392 in the last three months. 0.60% of the stock is owned by company insiders.

Symbotic Price Performance

Shares of SYM stock opened at $46.23 on Friday. The firm has a market cap of $27.30 billion, a P/E ratio of -660.33 and a beta of 2.06. Symbotic Inc. has a 1-year low of $16.32 and a 1-year high of $64.16. The firm's 50-day simple moving average is $47.20 and its 200-day simple moving average is $32.12.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Baird R W lowered shares of Symbotic from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. Needham & Company LLC upped their target price on shares of Symbotic from $32.00 to $57.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Oppenheimer upped their target price on shares of Symbotic from $54.00 to $59.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Zacks Research lowered shares of Symbotic from a "hold" rating to a "strong sell" rating in a report on Friday, August 15th. Finally, Citigroup restated a "buy" rating on shares of Symbotic in a report on Monday, July 14th. Seven analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $42.69.

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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