Symbotic Inc. (NASDAQ:SYM) is Tanaka Capital Management Inc.’s 8th Largest Position

Tanaka Capital Management Inc. boosted its holdings in Symbotic Inc. (NASDAQ:SYM) by 68.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,688 shares of the company’s stock after buying an additional 29,596 shares during the period. Symbotic makes up 3.9% of Tanaka Capital Management Inc.’s investment portfolio, making the stock its 8th biggest holding. Tanaka Capital Management Inc.’s holdings in Symbotic were worth $1,723,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Walmart Inc. purchased a new position in shares of Symbotic during the 4th quarter valued at $355,650,000. JPMorgan Chase & Co. grew its position in shares of Symbotic by 100.6% during the 4th quarter. JPMorgan Chase & Co. now owns 17,349 shares of the company’s stock valued at $411,000 after purchasing an additional 3,110,075 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Symbotic by 41.3% during the 4th quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company’s stock valued at $117,846,000 after purchasing an additional 1,452,627 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Symbotic during the 4th quarter valued at $20,754,000. Finally, Hood River Capital Management LLC purchased a new position in shares of Symbotic during the 4th quarter valued at $5,704,000.

Insider Buying and Selling

In other Symbotic news, Director Todd Krasnow sold 4,060 shares of the company’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $26.40, for a total value of $107,184.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Carol J. Hibbard sold 4,628 shares of the company’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $22.62, for a total transaction of $104,685.36. Following the completion of the sale, the chief financial officer now owns 54,011 shares in the company, valued at approximately $1,221,728.82. This trade represents a 7.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,847 shares of company stock valued at $1,733,870 over the last three months. Corporate insiders own 0.60% of the company’s stock.

Symbotic Stock Up 2.7%

Symbotic stock opened at $27.67 on Friday. The company has a market capitalization of $16.28 billion, a PE ratio of -395.23, a P/E/G ratio of 6.48 and a beta of 1.85. The firm has a fifty day simple moving average of $21.80 and a two-hundred day simple moving average of $25.65. Symbotic Inc. has a twelve month low of $16.32 and a twelve month high of $44.08.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). The firm had revenue of $549.65 million for the quarter, compared to the consensus estimate of $522.36 million. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. The business’s revenue was up 39.7% on a year-over-year basis. During the same period last year, the company posted ($0.07) earnings per share. As a group, equities analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on SYM shares. BWS Financial restated a “sell” rating and set a $10.00 price target on shares of Symbotic in a research report on Wednesday, April 2nd. Needham & Company LLC reduced their price target on shares of Symbotic from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. The Goldman Sachs Group cut their target price on shares of Symbotic from $25.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Raymond James lowered shares of Symbotic from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 6th. Finally, UBS Group cut their target price on shares of Symbotic from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $37.20.

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.