Western Financial Corp CA Takes $941,000 Position in Symbotic Inc. $SYM

Western Financial Corp CA purchased a new position in Symbotic Inc. (NASDAQ:SYM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 15,821 shares of the company’s stock, valued at approximately $941,000.

Other institutional investors have also modified their holdings of the company. Royal Bank of Canada lifted its holdings in Symbotic by 28.8% in the first quarter. Royal Bank of Canada now owns 84,856 shares of the company’s stock worth $1,714,000 after acquiring an additional 18,967 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Symbotic by 15.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 84,899 shares of the company’s stock worth $1,716,000 after purchasing an additional 11,098 shares during the period. Franklin Resources Inc. bought a new stake in shares of Symbotic in the 2nd quarter worth approximately $324,000. Russell Investments Group Ltd. bought a new stake in shares of Symbotic in the 2nd quarter worth approximately $804,000. Finally, M&T Bank Corp boosted its position in Symbotic by 19.7% during the 2nd quarter. M&T Bank Corp now owns 24,852 shares of the company’s stock valued at $966,000 after purchasing an additional 4,084 shares during the period.

Symbotic Stock Performance

Shares of SYM stock opened at $53.37 on Monday. Symbotic Inc. has a 1 year low of $16.32 and a 1 year high of $87.88. The firm has a market capitalization of $32.14 billion, a PE ratio of -533.65, a price-to-earnings-growth ratio of 5.35 and a beta of 2.10. The stock has a fifty day moving average of $53.96 and a two-hundred day moving average of $61.24.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SYM. Northland Securities set a $73.00 price objective on Symbotic in a research note on Thursday, February 5th. Zacks Research raised shares of Symbotic from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. Weiss Ratings restated a “hold (c-)” rating on shares of Symbotic in a research report on Thursday, January 22nd. Needham & Company LLC increased their price objective on shares of Symbotic from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Finally, Wall Street Zen downgraded shares of Symbotic from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $64.62.

Insider Buying and Selling

In related news, Director Merline Saintil sold 3,414 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $50.82, for a total transaction of $173,499.48. Following the transaction, the director owned 75,344 shares in the company, valued at $3,828,982.08. This trade represents a 4.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $47.70, for a total value of $95,400.00. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 176,492 shares of company stock worth $10,206,674. Company insiders own 8.16% of the company’s stock.

Symbotic Company Profile

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.