TCW Group Inc. Purchases 10,487 Shares of Symbotic Inc. (NASDAQ:SYM)

Key Points

• TCW Group Inc. has increased its holdings in Symbotic Inc. by 1.8%, owning approximately $11.99 million worth of shares following the purchase of 10,487 additional shares.
• Symbotic reported a negative EPS of ($0.04) for the last quarter, missing analyst expectations, despite revenue growth of 39.7% year-over-year, totaling $549.65 million.
• The stock has seen recent analyst downgrades, with estimates ranging from a $10.00 sell rating to a $54.00 buy rating, leading to an overall average rating of "Hold".

TCW Group Inc. raised its stake in Symbotic Inc. (NASDAQ:SYM - Free Report) by 1.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 593,442 shares of the company's stock after buying an additional 10,487 shares during the quarter. TCW Group Inc. owned about 0.10% of Symbotic worth $11,993,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SYM. GAMMA Investing LLC lifted its position in shares of Symbotic by 1,812.2% in the first quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock worth $29,000 after purchasing an additional 1,341 shares in the last quarter. Ulland Investment Advisors LLC acquired a new position in shares of Symbotic in the first quarter valued at about $31,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Symbotic in the fourth quarter valued at about $47,000. CWM LLC grew its stake in shares of Symbotic by 408.2% in the first quarter. CWM LLC now owns 2,602 shares of the company's stock valued at $53,000 after acquiring an additional 2,090 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Symbotic by 40.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,566 shares of the company's stock worth $85,000 after purchasing an additional 1,018 shares during the period.

Insider Activity

In other news, insider Maria G. Freve sold 478 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $54.73, for a total value of $26,160.94. Following the sale, the insider directly owned 3,312 shares of the company's stock, valued at approximately $181,265.76. This represents a 12.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Todd Krasnow sold 4,000 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $46.48, for a total transaction of $185,920.00. Following the completion of the transaction, the director owned 189,036 shares in the company, valued at approximately $8,786,393.28. This trade represents a 2.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 64,136 shares of company stock valued at $2,534,217. Corporate insiders own 0.60% of the company's stock.

Symbotic Price Performance

Shares of NASDAQ SYM traded up $1.88 during mid-day trading on Thursday, reaching $54.63. 1,367,285 shares of the company's stock were exchanged, compared to its average volume of 1,908,436. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $55.75. The firm has a 50-day moving average price of $39.28 and a two-hundred day moving average price of $29.44. The firm has a market capitalization of $32.21 billion, a price-to-earnings ratio of -1,370.63, a price-to-earnings-growth ratio of 52.82 and a beta of 2.03.

Symbotic (NASDAQ:SYM - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). Symbotic had a negative net margin of 0.23% and a negative return on equity of 1.26%. The business had revenue of $549.65 million for the quarter, compared to analysts' expectations of $522.36 million. During the same period last year, the company earned ($0.07) earnings per share. Symbotic's revenue for the quarter was up 39.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SYM. Citigroup reaffirmed a "buy" rating on shares of Symbotic in a research report on Monday, July 14th. BWS Financial reiterated a "sell" rating and issued a $10.00 price objective on shares of Symbotic in a report on Wednesday, April 2nd. Arete Research downgraded shares of Symbotic from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. The Goldman Sachs Group decreased their target price on shares of Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Symbotic from a "buy" rating to a "hold" rating and set a $51.00 price objective for the company. in a research report on Friday, July 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $39.94.

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.