Thematics Asset Management Purchases 242,661 Shares of Symbotic Inc. (NASDAQ:SYM)

Thematics Asset Management boosted its position in Symbotic Inc. (NASDAQ:SYM) by 30.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,048,170 shares of the company’s stock after buying an additional 242,661 shares during the quarter. Thematics Asset Management’s holdings in Symbotic were worth $25,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Baillie Gifford & Co. lifted its stake in Symbotic by 32.0% in the third quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock worth $343,192,000 after acquiring an additional 3,410,050 shares during the period. Vanguard Group Inc. lifted its position in shares of Symbotic by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock worth $109,189,000 after purchasing an additional 345,386 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of Symbotic by 76.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 873,987 shares of the company’s stock valued at $21,317,000 after purchasing an additional 379,726 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Symbotic by 191.5% during the second quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock valued at $27,281,000 after buying an additional 509,700 shares during the period. Finally, Raymond James & Associates raised its stake in Symbotic by 8.4% in the second quarter. Raymond James & Associates now owns 668,103 shares of the company’s stock worth $23,491,000 after buying an additional 51,712 shares in the last quarter.

Analyst Ratings Changes

SYM has been the subject of several recent research reports. Needham & Company LLC lifted their target price on shares of Symbotic from $40.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Citigroup dropped their price target on shares of Symbotic from $62.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. KeyCorp raised their price objective on shares of Symbotic from $40.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group dropped their target price on shares of Symbotic from $40.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Finally, TD Cowen decreased their price objective on shares of Symbotic from $55.00 to $43.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $44.31.

Symbotic Stock Performance

Shares of NASDAQ SYM traded up $0.67 during trading on Tuesday, hitting $38.14. The company had a trading volume of 424,900 shares, compared to its average volume of 1,615,043. The stock has a 50 day simple moving average of $28.73 and a 200 day simple moving average of $30.85. The firm has a market capitalization of $22.33 billion, a P/E ratio of -624.50 and a beta of 1.81. Symbotic Inc. has a 12 month low of $17.11 and a 12 month high of $59.82.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Monday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.54%. The firm had revenue of $576.77 million during the quarter, compared to analysts’ expectations of $470.24 million. During the same period in the prior year, the company posted ($0.08) earnings per share. The company’s revenue for the quarter was up 47.2% compared to the same quarter last year. As a group, analysts predict that Symbotic Inc. will post 0.36 EPS for the current year.

Insider Buying and Selling at Symbotic

In other Symbotic news, insider William M. Boyd III sold 8,826 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $28.33, for a total value of $250,040.58. Following the sale, the insider now owns 23,012 shares in the company, valued at $651,929.96. The trade was a 27.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Carol J. Hibbard sold 22,821 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $28.96, for a total value of $660,896.16. Following the transaction, the chief financial officer now owns 34,188 shares of the company’s stock, valued at approximately $990,084.48. The trade was a 40.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,878 shares of company stock valued at $1,378,056 over the last ninety days. 38.30% of the stock is currently owned by company insiders.

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.