Symbotic Inc. (NASDAQ:SYM) Director Sells $56,300.00 in Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $28.15, for a total value of $56,300.00. Following the sale, the director now owns 214,036 shares in the company, valued at $6,025,113.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Todd Krasnow also recently made the following trade(s):

• On Tuesday, October 1st, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $23.96, for a total transaction of $47,920.00.
• On Tuesday, September 3rd, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $18.75, for a total value of $37,500.00.

Symbotic Stock Up 4.3 %

Symbotic stock opened at $33.95 on Friday. The company has a fifty day simple moving average of $25.38 and a 200-day simple moving average of $31.54. The firm has a market capitalization of $19.88 billion, a price-to-earnings ratio of -178.68 and a beta of 1.81. Symbotic Inc. has a 52-week low of $17.11 and a 52-week high of $59.82.

Institutional Investors Weigh In On Symbotic

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Symbotic by 16.6% during the first quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock worth $109,189,000 after purchasing an additional 345,386 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Symbotic by 191.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock valued at $27,281,000 after buying an additional 509,700 shares during the period. Blair William & Co. IL lifted its holdings in Symbotic by 418.1% in the first quarter. Blair William & Co. IL now owns 33,365 shares of the company’s stock valued at $1,501,000 after acquiring an additional 26,925 shares during the last quarter. Comerica Bank grew its position in Symbotic by 1,347.0% in the first quarter. Comerica Bank now owns 16,641 shares of the company’s stock worth $749,000 after acquiring an additional 15,491 shares during the period. Finally, Millennium Management LLC increased its stake in Symbotic by 6,694.5% during the second quarter. Millennium Management LLC now owns 335,649 shares of the company’s stock worth $11,801,000 after acquiring an additional 330,709 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SYM shares. The Goldman Sachs Group cut their price objective on Symbotic from $40.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Symbotic from $58.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. KeyCorp decreased their price objective on shares of Symbotic from $55.00 to $40.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Needham & Company LLC cut their price objective on shares of Symbotic from $54.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Finally, Northland Securities decreased their target price on shares of Symbotic from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.23.

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.