Rakuten Securities Inc. Invests $85,000 in Symbotic Inc. (NASDAQ:SYM)

Rakuten Securities Inc. bought a new stake in Symbotic Inc. (NASDAQ:SYM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,650 shares of the company’s stock, valued at approximately $85,000.

A number of other large investors have also added to or reduced their stakes in SYM. Softbank Group CORP. lifted its holdings in shares of Symbotic by 1,000.0% in the 1st quarter. Softbank Group CORP. now owns 22,000,000 shares of the company’s stock worth $502,480,000 after acquiring an additional 20,000,000 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position in Symbotic by 202.3% during the first quarter. Frontier Capital Management Co. LLC now owns 1,041,144 shares of the company’s stock valued at $23,780,000 after buying an additional 696,727 shares during the period. Raymond James & Associates grew its stake in shares of Symbotic by 15.4% during the fourth quarter. Raymond James & Associates now owns 579,876 shares of the company’s stock valued at $29,765,000 after buying an additional 77,388 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Symbotic by 54.1% in the first quarter. BlackRock Inc. now owns 508,933 shares of the company’s stock worth $11,624,000 after buying an additional 178,589 shares during the period. Finally, FMR LLC lifted its stake in shares of Symbotic by 759.7% in the 1st quarter. FMR LLC now owns 383,593 shares of the company’s stock valued at $8,761,000 after acquiring an additional 338,975 shares during the last quarter.

Symbotic Price Performance

SYM stock opened at $41.96 on Thursday. The firm has a 50-day moving average of $43.83 and a 200 day moving average of $44.00. Symbotic Inc. has a 1 year low of $22.40 and a 1 year high of $64.14.

Symbotic (NASDAQ:SYM) last announced its 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. The firm had revenue of $368.45 million during the quarter, compared to analyst estimates of $370.28 million. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. On average, sell-side analysts expect that Symbotic Inc. will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling

In other Symbotic news, major shareholder David A. Ladensohn sold 2,085,296 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $39.69, for a total transaction of $82,765,398.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $51.50, for a total value of $103,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder David A. Ladensohn sold 2,085,296 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $39.69, for a total value of $82,765,398.24. The disclosure for this sale can be found here. Insiders have sold a total of 7,188,628 shares of company stock valued at $279,026,777 over the last ninety days. Company insiders own 38.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SYM has been the topic of several recent research reports. Robert W. Baird reduced their price target on Symbotic from $54.00 to $52.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 6th. Northland Securities lifted their target price on shares of Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $60.00 price target on shares of Symbotic in a report on Tuesday, February 6th. William Blair reissued a “market perform” rating on shares of Symbotic in a report on Tuesday, February 6th. Finally, KeyCorp decreased their price objective on shares of Symbotic from $63.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

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.