Handelsbanken Fonder AB Has $282,000 Position in Symbotic Inc. (NASDAQ:SYM)

Handelsbanken Fonder AB grew its stake in Symbotic Inc. (NASDAQ:SYM) by 28.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,900 shares of the company’s stock after purchasing an additional 2,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in Symbotic were worth $282,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SYM. Baillie Gifford & Co. lifted its position in Symbotic by 32.0% during the third quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock valued at $343,192,000 after purchasing an additional 3,410,050 shares during the last quarter. Thematics Asset Management lifted its holdings in shares of Symbotic by 30.1% during the third quarter. Thematics Asset Management now owns 1,048,170 shares of the company’s stock valued at $25,565,000 after purchasing an additional 242,661 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Symbotic by 1,273,060.0% during the third quarter. International Assets Investment Management LLC now owns 63,658 shares of the company’s stock valued at $1,553,000 after purchasing an additional 63,653 shares during the last quarter. Tenzing Global Management LLC bought a new stake in Symbotic during the 3rd quarter valued at about $1,524,000. Finally, Robocap Asset Management Ltd purchased a new stake in Symbotic during the 4th quarter valued at $1,368,000.

Analysts Set New Price Targets

SYM has been the subject of a number of research analyst reports. Raymond James downgraded shares of Symbotic from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 6th. The Goldman Sachs Group cut their price target on Symbotic from $28.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Needham & Company LLC reduced their price target on shares of Symbotic from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Oppenheimer started coverage on shares of Symbotic in a research report on Wednesday, January 15th. They set an “outperform” rating and a $35.00 price objective for the company. Finally, DA Davidson upgraded Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price objective on the stock in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $38.20.

Symbotic Trading Down 7.3 %

Shares of Symbotic stock opened at $21.05 on Tuesday. Symbotic Inc. has a 12 month low of $17.11 and a 12 month high of $50.40. The stock’s fifty day moving average price is $27.01 and its 200-day moving average price is $26.57. The firm has a market cap of $12.39 billion, a P/E ratio of -300.67, a P/E/G ratio of 6.48 and a beta of 1.79.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data 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 forecast that Symbotic Inc. will post 0.13 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Todd Krasnow sold 2,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $24.04, for a total value of $48,080.00. Following the sale, the director now owns 214,036 shares in the company, valued at $5,145,425.44. This represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Carol J. Hibbard sold 4,055 shares of Symbotic stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $30.70, for a total value of $124,488.50. Following the transaction, the chief financial officer now owns 44,386 shares of the company’s stock, valued at approximately $1,362,650.20. This represents a 8.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,854 shares of company stock worth $3,986,371 in the last ninety days. 0.60% of the stock is owned by insiders.

Symbotic Company 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.