Symbotic Inc. (NASDAQ:SYM – Get Free Report) Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $42.72, for a total value of $85,440.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Todd Krasnow also recently made the following trade(s):
- On Tuesday, September 8th, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $43.57, for a total transaction of $87,140.00.
- On Monday, August 3rd, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $45.27, for a total transaction of $90,540.00.
Symbotic Stock Performance
NASDAQ:SYM opened at $42.63 on Friday. The company has a 50-day moving average of $42.26 and a 200-day moving average of $46.44. Symbotic Inc. has a 52 week low of $37.68 and a 52 week high of $87.88. The company has a market capitalization of $25.78 billion, a price-to-earnings ratio of 473.67, a PEG ratio of 4.67 and a beta of 1.97.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. USS Investment Management Ltd bought a new position in Symbotic in the 1st quarter valued at $15,004,000. Abacus FCF Advisors LLC bought a new stake in shares of Symbotic during the second quarter worth $3,109,000. Engineers Gate Manager LP increased its stake in shares of Symbotic by 469.6% in the second quarter. Engineers Gate Manager LP now owns 56,930 shares of the company’s stock valued at $2,559,000 after buying an additional 46,936 shares in the last quarter. Peregrine Asset Advisers Inc. acquired a new stake in shares of Symbotic in the first quarter valued at $2,379,000. Finally, Wealthfront Advisers LLC raised its holdings in shares of Symbotic by 168.1% in the first quarter. Wealthfront Advisers LLC now owns 71,248 shares of the company’s stock valued at $3,790,000 after buying an additional 44,676 shares during the last quarter.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on SYM. Robert W. Baird set a $51.00 target price on Symbotic in a report on Thursday, August 6th. Barclays lowered their price target on Symbotic from $44.00 to $38.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 8th. Zacks Research upgraded Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Weiss Ratings raised Symbotic from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, September 21st. Finally, Needham & Company LLC reduced their target price on shares of Symbotic from C$75.00 to C$60.00 and set a “buy” rating on the stock in a research note on Tuesday, September 15th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Symbotic presently has a consensus rating of “Hold” and a consensus price target of $65.45.
Get Our Latest Stock Report on SYM
About Symbotic
Symbotic Inc is a technology company that develops automation systems for warehouse and supply-chain operations. Its platform combines artificial intelligence, robotics, software and high-speed material-handling equipment to automate the movement, storage and retrieval of goods within large distribution centers.
The company’s solutions are designed to manage products from inbound receiving and pallet depalletizing through storage, replenishment, order assembly and outbound shipping. Symbotic’s systems use autonomous robots and software to organize inventory and build store-ready orders, helping retailers and other supply-chain operators improve warehouse utilization, throughput and operational consistency.
Symbotic primarily serves large retail and grocery distribution networks, with deployments concentrated in North America.
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