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

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were 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 owns 214,036 shares of the company’s stock, valued at $6,025,113.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 transaction of $47,920.00.
• On Tuesday, September 3rd, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $18.75, for a total transaction of $37,500.00.

Symbotic Price Performance

Shares of SYM opened at $31.63 on Thursday. The company has a market cap of $18.52 billion, a PE ratio of -166.47 and a beta of 1.81. The firm has a 50-day moving average of $24.82 and a 200-day moving average of $31.57. Symbotic Inc. has a one year low of $17.11 and a one year high of $59.82.

Hedge Funds Weigh In On Symbotic

A number of hedge funds and other institutional investors have recently bought and sold shares of SYM. Vanguard Group Inc. increased its holdings in shares of Symbotic by 16.6% in the first quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock valued at $109,189,000 after purchasing an additional 345,386 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in Symbotic by 191.5% in 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 last quarter. Blair William & Co. IL raised its holdings in Symbotic by 418.1% in the 1st 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 period. Comerica Bank lifted its position in Symbotic by 1,347.0% during 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 last quarter. Finally, Millennium Management LLC boosted its holdings in shares of 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 period.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their target price 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. BWS Financial reiterated a “sell” rating and set a $10.00 price objective on shares of Symbotic in a report on Friday, October 11th. Northland Securities cut their target price on Symbotic from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Vertical Research initiated coverage on Symbotic in a research report on Tuesday, July 23rd. They set a “hold” rating and a $45.00 price target for the company. Finally, TD Cowen lowered their price objective on shares of Symbotic from $55.00 to $43.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. One 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.