Rakuten Securities Inc. Has $179,000 Holdings in Symbotic Inc. (NASDAQ:SYM)

Rakuten Securities Inc. increased its position in shares of Symbotic Inc. (NASDAQ:SYM) by 2,200.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,546 shares of the company’s stock after acquiring an additional 7,218 shares during the period. Rakuten Securities Inc.’s holdings in Symbotic were worth $179,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. IFP Advisors Inc raised its stake in shares of Symbotic by 58.2% in the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock valued at $32,000 after acquiring an additional 503 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Symbotic by 28.4% in the third quarter. Van ECK Associates Corp now owns 3,497 shares of the company’s stock valued at $85,000 after purchasing an additional 774 shares during the period. National Bank of Canada FI lifted its stake in shares of Symbotic by 36.8% in the third quarter. National Bank of Canada FI now owns 3,557 shares of the company’s stock worth $87,000 after buying an additional 957 shares during the last quarter. RiverPark Advisors LLC boosted its holdings in shares of Symbotic by 147.1% during the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after buying an additional 1,211 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in Symbotic by 154.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company’s stock valued at $58,000 after buying an additional 1,490 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SYM shares. KeyCorp restated a “sector weight” rating on shares of Symbotic in a research note on Wednesday, November 27th. Raymond James cut shares of Symbotic from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. Craig Hallum lowered shares of Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a research report on Wednesday, November 27th. DA Davidson raised shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Wednesday, January 8th. Finally, Northland Securities lifted their target price on Symbotic from $35.00 to $41.00 and gave the stock 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 given a buy rating to the company’s stock. According to MarketBeat, Symbotic currently has an average rating of “Hold” and a consensus price target of $38.20.

Symbotic Stock Down 0.1 %

Shares of SYM stock opened at $21.15 on Wednesday. The firm has a 50 day moving average of $26.73 and a 200-day moving average of $26.50. The company has a market cap of $12.44 billion, a price-to-earnings ratio of -302.10, a price-to-earnings-growth ratio of 6.48 and a beta of 1.85. Symbotic Inc. has a 52 week low of $17.11 and a 52 week high of $50.40.

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

Insider Transactions at Symbotic

In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $27.32, for a total value of $54,640.00. Following the sale, the director now owns 194,036 shares of the company’s stock, valued at $5,301,063.52. This trade represents a 1.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rollin L. Ford sold 28,740 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $26.02, for a total value of $747,814.80. Following the transaction, the director now directly owns 10,447 shares in the company, valued at $271,830.94. This trade represents a 73.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,987 shares of company stock valued at $2,065,252 over the last three months. Company insiders own 0.60% of the company’s stock.

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.