TCW Group Inc. Buys 198,681 Shares of Symbotic Inc. (NASDAQ:SYM)

TCW Group Inc. boosted its stake in shares of Symbotic Inc. (NASDAQ:SYM) by 51.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 582,955 shares of the company’s stock after purchasing an additional 198,681 shares during the period. TCW Group Inc. owned about 0.10% of Symbotic worth $13,822,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Baillie Gifford & Co. grew its holdings in shares of 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. Thematics Asset Management boosted its position in Symbotic by 30.1% in the third quarter. Thematics Asset Management now owns 1,048,170 shares of the company’s stock worth $25,565,000 after purchasing an additional 242,661 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Symbotic by 10.2% during the 3rd quarter. Geode Capital Management LLC now owns 503,758 shares of the company’s stock valued at $12,290,000 after purchasing an additional 46,721 shares during the period. State Street Corp grew its stake in shares of Symbotic by 2.6% during the 3rd quarter. State Street Corp now owns 319,235 shares of the company’s stock valued at $7,786,000 after purchasing an additional 7,990 shares during the period. Finally, Hodges Capital Management Inc. increased its position in shares of Symbotic by 7.9% during the 4th quarter. Hodges Capital Management Inc. now owns 273,841 shares of the company’s stock valued at $6,492,000 after purchasing an additional 20,111 shares during the last quarter.

Insider Buying and Selling at Symbotic

In other news, CFO Carol J. Hibbard sold 4,055 shares of Symbotic stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $30.70, for a total value of $124,488.50. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William M. Boyd III sold 2,660 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $27.60, for a total value of $73,416.00. Following the completion of the sale, the insider now owns 40,812 shares in the company, valued at $1,126,411.20. This represents a 6.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,114 shares of company stock worth $3,238,557. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SYM shares. Raymond James downgraded shares of Symbotic from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. Craig Hallum cut shares of Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a research note on Wednesday, November 27th. Oppenheimer began coverage on Symbotic in a research note on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a report on Thursday, February 6th. Finally, Citigroup reissued a “buy” rating and set a $37.00 price target on shares of Symbotic in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Symbotic has a consensus rating of “Hold” and an average target price of $38.33.

Symbotic Trading Down 6.2 %

NASDAQ SYM opened at $24.47 on Monday. Symbotic Inc. has a 12 month low of $17.11 and a 12 month high of $50.40. The stock has a market cap of $14.40 billion, a PE ratio of -349.52, a P/E/G ratio of 6.48 and a beta of 1.79. The stock’s 50 day moving average is $27.22 and its 200 day moving average is $26.48.

Symbotic (NASDAQ:SYM) last released 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, analysts forecast that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

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.