Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Holdings in Symbotic Inc. (NASDAQ:SYM)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Symbotic Inc. (NASDAQ:SYM) by 11.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,451 shares of the company’s stock after acquiring an additional 1,646 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Symbotic were worth $422,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc lifted its stake in Symbotic by 58.2% in 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 in the last quarter. Private Trust Co. NA purchased a new position in Symbotic during the fourth quarter worth approximately $47,000. Jones Financial Companies Lllp boosted its stake in Symbotic by 154.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company’s stock worth $58,000 after buying an additional 1,490 shares during the last quarter. MCF Advisors LLC purchased a new stake in Symbotic in the 4th quarter valued at $85,000. Finally, Quarry LP increased its stake in shares of Symbotic by 89.9% in the 3rd quarter. Quarry LP now owns 3,508 shares of the company’s stock worth $86,000 after acquiring an additional 1,661 shares during the last quarter.

Symbotic Stock Up 5.4 %

Symbotic stock opened at $22.03 on Thursday. Symbotic Inc. has a 52-week low of $17.11 and a 52-week high of $48.98. The firm has a market cap of $12.96 billion, a PE ratio of -314.67, a price-to-earnings-growth ratio of 6.48 and a beta of 1.85. The company’s 50 day moving average is $24.86 and its two-hundred day moving average is $26.70.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SYM. Needham & Company LLC dropped their price objective on shares of Symbotic from $35.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Northland Securities raised their price target on shares of Symbotic from $35.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. BWS Financial reaffirmed a “sell” rating and set a $10.00 price target on shares of Symbotic in a research report on Wednesday. UBS Group cut their target price on Symbotic from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Finally, William Blair reaffirmed a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Symbotic currently has a consensus rating of “Hold” and an average price target of $38.20.

Insider Activity

In other news, CFO Carol J. Hibbard sold 4,055 shares of Symbotic stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $30.70, for a total transaction of $124,488.50. Following the completion of the sale, the chief financial officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael David Dunn sold 13,114 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $32.19, for a total transaction of $422,139.66. Following the transaction, the insider now owns 18,746 shares of the company’s stock, valued at approximately $603,433.74. The trade was a 41.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,442 shares of company stock worth $2,071,943. 0.60% of the stock is currently owned by company insiders.

Symbotic Company 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.