Thematics Asset Management Sells 356,029 Shares of Symbotic Inc. $SYM

Thematics Asset Management lowered its position in Symbotic Inc. (NASDAQ:SYM) by 58.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 255,465 shares of the company’s stock after selling 356,029 shares during the quarter. Thematics Asset Management’s holdings in Symbotic were worth $13,770,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SYM. Barton Investment Management bought a new stake in Symbotic during the 3rd quarter worth approximately $1,640,000. Grove Street Fiduciary LLC raised its stake in shares of Symbotic by 314.4% during the third quarter. Grove Street Fiduciary LLC now owns 35,000 shares of the company’s stock valued at $1,886,000 after acquiring an additional 26,555 shares during the last quarter. Mutual Advisors LLC acquired a new position in shares of Symbotic during the third quarter worth $1,919,000. Prospera Financial Services Inc acquired a new position in shares of Symbotic during the second quarter worth $861,000. Finally, ARK Investment Management LLC grew its stake in shares of Symbotic by 32.4% in the third quarter. ARK Investment Management LLC now owns 589,887 shares of the company’s stock worth $31,795,000 after purchasing an additional 144,389 shares during the last quarter.

Symbotic Price Performance

NASDAQ SYM opened at $49.43 on Friday. The stock has a market capitalization of $29.77 billion, a P/E ratio of -494.25, a P/E/G ratio of 5.07 and a beta of 2.13. The business has a 50 day simple moving average of $58.68 and a 200 day simple moving average of $60.67. Symbotic Inc. has a one year low of $16.32 and a one year high of $87.88.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.06). The business had revenue of $629.99 million during the quarter, compared to analyst estimates of $622.58 million. Symbotic had a negative net margin of 0.45% and a negative return on equity of 1.88%. Symbotic’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.03) earnings per share. Equities analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Needham & Company LLC increased their price objective on Symbotic from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Oppenheimer reaffirmed an “outperform” rating and set a $83.00 target price on shares of Symbotic in a report on Tuesday, November 25th. Barclays upped their price target on Symbotic from $41.00 to $42.00 and gave the company an “underweight” rating in a research report on Monday, January 12th. DA Davidson increased their price target on Symbotic from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Finally, Zacks Research upgraded Symbotic from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $60.57.

Insider Activity at Symbotic

In other Symbotic news, CTO James Kuffner sold 77,321 shares of the firm’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $59.76, for a total value of $4,620,702.96. Following the completion of the sale, the chief technology officer directly owned 144,982 shares in the company, valued at approximately $8,664,124.32. This trade represents a 34.78% 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, Director Rollin L. Ford sold 60,000 shares of Symbotic stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $57.51, for a total transaction of $3,450,600.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 195,947 shares of company stock worth $11,597,675 over the last ninety days. 8.16% of the stock is owned by corporate insiders.

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.