Symbotic Inc. (NASDAQ:SYM - Get Free Report) shot up 5.6% during trading on Monday . The company traded as high as $44.19 and last traded at $44.15. 339,932 shares were traded during trading, a decline of 76% from the average session volume of 1,426,380 shares. The stock had previously closed at $41.79.
Wall Street Analyst Weigh In
SYM has been the topic of several research analyst reports. The Goldman Sachs Group decreased their target price on shares of Symbotic from $51.00 to $44.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 6th. Needham & Company LLC restated a "buy" rating and set a $54.00 price objective on shares of Symbotic in a report on Tuesday, May 7th. Craig Hallum lifted their target price on Symbotic from $55.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, May 8th. Robert W. Baird upped their price target on Symbotic from $52.00 to $53.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 7th. Finally, William Blair reaffirmed a "market perform" rating on shares of Symbotic in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and eleven have given 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 target price of $55.69.
Get Our Latest Report on SYM
Symbotic Stock Up 2.3 %
The firm's 50 day moving average price is $43.42 and its two-hundred day moving average price is $44.34. The firm has a market capitalization of $24.66 billion, a PE ratio of -183.95 and a beta of 1.97.
Insider Buying and Selling at Symbotic
In other Symbotic news, major shareholder David A. Ladensohn sold 2,085,296 shares of Symbotic stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $39.69, for a total transaction of $82,765,398.24. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Symbotic news, major shareholder David A. Ladensohn sold 2,085,296 shares of the firm's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $39.69, for a total transaction of $82,765,398.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard B. Cohen sold 5,000,000 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $38.32, for a total transaction of $191,600,000.00. The disclosure for this sale can be found here. Insiders sold a total of 7,110,447 shares of company stock valued at $275,410,529 in the last ninety days. Insiders own 38.30% of the company's stock.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. Van ECK Associates Corp bought a new position in Symbotic during the 4th quarter worth $26,000. Providence Capital Advisors LLC acquired a new stake in shares of Symbotic in the 3rd quarter worth about $33,000. RiverPark Advisors LLC bought a new stake in Symbotic in the 1st quarter valued at about $37,000. Global Retirement Partners LLC boosted its stake in Symbotic by 166.7% during the 1st quarter. Global Retirement Partners LLC now owns 1,056 shares of the company's stock valued at $48,000 after purchasing an additional 660 shares during the period. Finally, Pingora Partners LLC bought a new position in Symbotic in the 4th quarter worth about $51,000.
About Symbotic
(
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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.
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