Carol J. Hibbard Sells 22,821 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) CFO Carol J. Hibbard sold 22,821 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total transaction of $660,896.16. Following the sale, the chief financial officer now directly owns 34,188 shares in the company, valued at $990,084.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Symbotic Price Performance

SYM stock opened at $32.54 on Friday. Symbotic Inc. has a 1 year low of $17.11 and a 1 year high of $59.82. The stock has a market capitalization of $19.05 billion, a PE ratio of -171.26 and a beta of 1.81. The company’s 50-day moving average is $25.08 and its 200-day moving average is $31.58.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SYM. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Symbotic from $58.00 to $59.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Northland Securities decreased their price target on Symbotic from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. Robert W. Baird cut their price objective on Symbotic from $53.00 to $41.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Needham & Company LLC decreased their target price on shares of Symbotic from $54.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Finally, Vertical Research began coverage on shares of Symbotic in a research report on Tuesday, July 23rd. They issued a “hold” rating and a $45.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.23.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYM. Castleview Partners LLC lifted its stake in shares of Symbotic by 50.0% in the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after buying an additional 500 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Symbotic in the 3rd quarter worth about $49,000. RiverPark Advisors LLC lifted its position in Symbotic by 147.1% in the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock valued at $50,000 after acquiring an additional 1,211 shares in the last quarter. RFP Financial Group LLC boosted its stake in Symbotic by 22.4% during the 2nd quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock valued at $59,000 after purchasing an additional 310 shares during the last quarter. Finally, Quest Partners LLC increased its holdings in Symbotic by 19,307.7% during the 3rd quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock worth $62,000 after purchasing an additional 2,510 shares in the last quarter.

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.