Mitsubishi UFJ Trust & Banking Corp Sells 12,225 Shares of Symbotic Inc. (NASDAQ:SYM)

Mitsubishi UFJ Trust & Banking Corp lowered its holdings in shares of Symbotic Inc. (NASDAQ:SYM) by 3.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 356,079 shares of the company’s stock after selling 12,225 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.06% of Symbotic worth $8,443,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. IFP Advisors Inc raised its position in Symbotic by 58.2% during the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock worth $32,000 after purchasing an additional 503 shares during the last quarter. Private Trust Co. NA bought a new position in shares of Symbotic during the fourth quarter worth about $47,000. Jones Financial Companies Lllp lifted its stake in shares of Symbotic by 154.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company’s stock worth $58,000 after acquiring an additional 1,490 shares during the period. Quest Partners LLC boosted its holdings in Symbotic by 19,307.7% in the third quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock valued at $62,000 after acquiring an additional 2,510 shares during the last quarter. Finally, MCF Advisors LLC acquired a new stake in Symbotic during the 4th quarter valued at approximately $85,000.

Insiders Place Their Bets

In other Symbotic news, insider Michael David Dunn sold 5,365 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $24.60, for a total value of $131,979.00. Following the transaction, the insider now directly owns 31,860 shares in the company, valued at $783,756. The trade was a 14.41 % 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, CFO Carol J. Hibbard sold 4,055 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $30.70, for a total transaction of $124,488.50. Following the sale, the chief financial officer now owns 44,386 shares of the company’s stock, valued at approximately $1,362,650.20. The trade was a 8.37 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,442 shares of company stock valued at $2,120,023. Insiders own 0.60% of the company’s stock.

Symbotic Price Performance

SYM opened at $20.16 on Friday. Symbotic Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $48.98. The firm has a market capitalization of $11.86 billion, a P/E ratio of -287.96, a PEG ratio of 6.48 and a beta of 1.85. The company’s 50-day moving average is $25.53 and its 200 day moving average is $26.68.

Symbotic (NASDAQ:SYM) last posted its earnings results on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. On average, equities research analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SYM shares. UBS Group decreased their price objective on shares of Symbotic from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Oppenheimer began coverage on Symbotic in a report on Wednesday, January 15th. They set an “outperform” rating and a $35.00 price target for the company. William Blair reissued a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th. Northland Securities raised their target price on Symbotic from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Finally, Raymond James downgraded Symbotic from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Symbotic has an average rating of “Hold” and a consensus target price of $38.20.

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.