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

Tanaka Capital Management Inc. lifted its stake in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 68.7% in the fourth quarter, according to its most recent Form 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 quarter. Symbotic makes up about 3.9% of Tanaka Capital Management Inc.'s investment portfolio, making the stock its 8th largest holding. Tanaka Capital Management Inc.'s holdings in Symbotic were worth $1,723,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Barclays PLC increased its holdings in Symbotic by 1,105.9% in the third quarter. Barclays PLC now owns 9,346 shares of the company's stock valued at $228,000 after buying an additional 8,571 shares during the last quarter. MCF Advisors LLC bought a new stake in shares of Symbotic in the 4th quarter valued at approximately $85,000. Bourne Lent Asset Management Inc. increased its holdings in shares of Symbotic by 34.8% in the 4th quarter. Bourne Lent Asset Management Inc. now owns 87,210 shares of the company's stock valued at $2,068,000 after acquiring an additional 22,500 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Symbotic during the 4th quarter valued at approximately $559,000. Finally, Hunter Associates Investment Management LLC lifted its stake in Symbotic by 6.8% during the fourth quarter. Hunter Associates Investment Management LLC now owns 67,413 shares of the company's stock worth $1,599,000 after purchasing an additional 4,320 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have weighed in on SYM. The Goldman Sachs Group lowered their target price on shares of Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. BWS Financial reaffirmed a "sell" rating and set a $10.00 price objective on shares of Symbotic in a research report on Wednesday, April 2nd. UBS Group dropped their price objective on shares of Symbotic from $32.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Cantor Fitzgerald restated an "overweight" rating and issued a $60.00 target price on shares of Symbotic in a research note on Thursday, February 6th. Finally, Needham & Company LLC dropped their price target on Symbotic from $35.00 to $32.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, Symbotic presently has a consensus rating of "Hold" and a consensus target price of $37.20.

Insider Activity at Symbotic

In other news, Director Todd Krasnow sold 5,940 shares of Symbotic stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $26.38, for a total value of $156,697.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael David Dunn sold 2,040 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $22.24, for a total transaction of $45,369.60. Following the completion of the sale, the insider now owns 23,822 shares in the company, valued at $529,801.28. The trade was a 7.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,447 shares of company stock worth $858,000 over the last quarter. 0.60% of the stock is currently owned by company insiders.

Symbotic Price Performance

Shares of NASDAQ SYM traded down $0.27 during midday trading on Friday, reaching $29.16. 539,493 shares of the company traded hands, compared to its average volume of 1,922,117. The company has a market cap of $17.19 billion, a price-to-earnings ratio of -415.03, a PEG ratio of 6.48 and a beta of 1.85. The stock has a 50-day moving average price of $22.34 and a 200 day moving average price of $25.67. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $43.39.

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