Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow Sells 2,000 Shares

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $28.15, for a total value of $56,300.00. Following the completion of the transaction, the director now directly owns 214,036 shares of the company’s stock, valued at approximately $6,025,113.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, October 1st, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $23.96, for a total value 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 8.0 %

SYM stock traded up $2.33 during midday trading on Wednesday, reaching $31.63. The stock had a trading volume of 1,350,499 shares, compared to its average volume of 1,575,457. The business has a fifty day simple moving average of $24.59 and a two-hundred day simple moving average of $31.57. The firm has a market cap of $18.52 billion, a price-to-earnings ratio of -166.47 and a beta of 1.81. Symbotic Inc. has a twelve month low of $17.11 and a twelve month high of $59.82.

Institutional Trading of Symbotic

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SYM. TD Cowen reduced their target price on Symbotic from $55.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Needham & Company LLC cut their price objective on Symbotic from $54.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Citigroup cut their price objective on Symbotic from $62.00 to $49.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. The Goldman Sachs Group cut their price objective on Symbotic from $40.00 to $30.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Finally, Vertical Research began coverage on Symbotic in a report on Tuesday, July 23rd. They set a “hold” rating and a $45.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.23.

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.