Mitsubishi UFJ Trust & Banking Corp Reduces Stock Position in Symbotic Inc. (NASDAQ:SYM)

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in Symbotic Inc. (NASDAQ:SYM) by 3.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 356,079 shares of the company’s stock after selling 12,225 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Symbotic were worth $8,443,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of SYM. Congress Wealth Management LLC DE purchased a new position in Symbotic during the 4th quarter valued at about $356,000. Vanguard Group Inc. grew its stake in Symbotic by 41.3% during the fourth quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company’s stock valued at $117,846,000 after acquiring an additional 1,452,627 shares in the last quarter. LPL Financial LLC increased its holdings in Symbotic by 31.5% during the 4th quarter. LPL Financial LLC now owns 43,167 shares of the company’s stock worth $1,023,000 after acquiring an additional 10,341 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Symbotic in the 4th quarter worth approximately $194,000. Finally, Sei Investments Co. bought a new position in Symbotic in the 4th quarter valued at $1,383,000.

Symbotic Trading Down 6.3 %

Shares of NASDAQ:SYM opened at $20.16 on Friday. Symbotic Inc. has a 12-month low of $17.11 and a 12-month high of $48.98. The stock’s 50-day moving average price is $25.53 and its 200-day moving average price is $26.68. The stock has a market capitalization of $11.86 billion, a P/E ratio of -287.96, a price-to-earnings-growth ratio of 6.48 and a beta of 1.85.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Needham & Company LLC decreased their price target on shares of Symbotic from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Raymond James lowered Symbotic from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. Cantor Fitzgerald reiterated an “overweight” rating and set a $60.00 price target on shares of Symbotic in a research report on Thursday, February 6th. BWS Financial restated a “sell” rating and issued a $10.00 price objective on shares of Symbotic in a research report on Tuesday, January 21st. Finally, Northland Securities lifted their target price on shares of Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Symbotic has an average rating of “Hold” and a consensus price target of $38.20.

Insider Activity at Symbotic

In other Symbotic news, insider William M. Boyd III sold 2,660 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $27.60, for a total value of $73,416.00. Following the transaction, the insider now owns 40,812 shares in the company, valued at approximately $1,126,411.20. The trade was a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael David Dunn sold 3,635 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $33.28, for a total transaction of $120,972.80. Following the sale, the insider now owns 24,272 shares of the company’s stock, valued at approximately $807,772.16. This represents a 13.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,442 shares of company stock worth $2,120,023 in the last three months. 0.60% of the stock is owned by 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.