Rakuten Securities Inc. Takes Position in Symbotic Inc. (NASDAQ:SYM)

Rakuten Securities Inc. purchased a new position in shares of Symbotic Inc. (NASDAQ:SYM) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 1,650 shares of the company’s stock, valued at approximately $85,000.

A number of other large investors also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Symbotic by 8.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,875 shares of the company’s stock worth $250,000 after buying an additional 400 shares during the period. TFC Financial Management Inc. increased its position in shares of Symbotic by 97.1% during the fourth quarter. TFC Financial Management Inc. now owns 1,226 shares of the company’s stock worth $63,000 after acquiring an additional 604 shares during the period. Arizona State Retirement System bought a new stake in shares of Symbotic during the fourth quarter valued at approximately $232,000. Colonial River Wealth Management LLC bought a new stake in shares of Symbotic during the fourth quarter valued at approximately $232,000. Finally, Stonegate Investment Group LLC purchased a new stake in shares of Symbotic in the fourth quarter valued at approximately $318,000.

Symbotic Stock Up 2.6 %

Shares of Symbotic stock opened at $41.96 on Thursday. Symbotic Inc. has a 52-week low of $22.40 and a 52-week high of $64.14. The firm’s 50 day moving average price is $43.83 and its 200-day moving average price is $44.00.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Monday, February 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. Symbotic had a negative net margin of 1.39% and a negative return on equity of 35.06%. The business had revenue of $368.45 million for the quarter, compared to analyst estimates of $370.28 million. On average, equities research analysts forecast that Symbotic Inc. will post -0.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SYM shares. Robert W. Baird decreased their target price on Symbotic from $54.00 to $52.00 and set an “outperform” rating for the company in a research report on Tuesday, February 6th. William Blair restated a “market perform” rating on shares of Symbotic in a report on Tuesday, February 6th. The Goldman Sachs Group dropped their target price on shares of Symbotic from $51.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, February 6th. Northland Securities boosted their price target on shares of Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Finally, DA Davidson raised shares of Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Symbotic presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Insider Buying and Selling

In other Symbotic news, insider Richard B. Cohen sold 5,000,000 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $38.32, for a total value of $191,600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $51.50, for a total transaction of $103,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Richard B. Cohen sold 5,000,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $38.32, for a total value of $191,600,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 7,188,628 shares of company stock worth $279,026,777 in the last ninety days. 38.30% 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.