Symbotic Inc. (NASDAQ:SYM) CFO Sells 22,821 Shares

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

Symbotic Stock Up 8.0 %

SYM traded up $2.33 during 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 50-day moving average of $24.59 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.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SYM. RFP Financial Group LLC lifted its stake in shares of Symbotic by 21.2% in the first quarter. RFP Financial Group LLC now owns 1,382 shares of the company’s stock worth $62,000 after buying an additional 242 shares in the last quarter. Castleview Partners LLC grew its stake in Symbotic by 50.0% during the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after acquiring an additional 500 shares in the last quarter. Quarry LP purchased a new stake in Symbotic during the second quarter valued at approximately $65,000. Arcadia Investment Management Corp MI bought a new position in shares of Symbotic during the third quarter valued at approximately $49,000. Finally, Natixis Investment Managers International purchased a new stake in shares of Symbotic in the first quarter valued at approximately $90,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SYM. TD Cowen reduced their target price on shares of Symbotic from $55.00 to $43.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Vertical Research began coverage on Symbotic in a report on Tuesday, July 23rd. They issued a “hold” rating and a $45.00 price target on the stock. Northland Securities cut their price target on shares of Symbotic from $60.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. KeyCorp dropped their price target on shares of Symbotic from $55.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Finally, Citigroup decreased their target price on Symbotic from $62.00 to $49.00 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 given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.