Symbotic (NASDAQ:SYM) Trading Up 1.1%

Symbotic Inc. (NASDAQ:SYM - Get Free Report)'s stock price rose 1.1% during mid-day trading on Tuesday . The company traded as high as $43.67 and last traded at $43.59. Approximately 128,308 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 1,411,102 shares. The stock had previously closed at $43.12.

Wall Street Analysts Forecast Growth

SYM has been the topic of a number of research analyst reports. Robert W. Baird increased their price target on Symbotic from $52.00 to $53.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 7th. William Blair reaffirmed a "market perform" rating on shares of Symbotic in a report on Friday, May 10th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Symbotic from $57.00 to $58.00 and gave the stock a "buy" rating in a report on Tuesday, May 7th. Needham & Company LLC reissued a "buy" rating and set a $54.00 price target on shares of Symbotic in a research note on Tuesday, May 7th. Finally, DA Davidson upgraded shares of Symbotic from a "neutral" rating to a "buy" rating and set a $50.00 price objective for the company in a research report on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $55.69.

Symbotic Trading Up 1.0 %

The business has a 50 day moving average price of $43.67 and a 200 day moving average price of $44.73. The company has a market capitalization of $25.46 billion, a P/E ratio of -181.45 and a beta of 1.97.

Insider Buying and Selling at Symbotic

In other news, major shareholder David A. Ladensohn sold 2,085,296 shares of the business's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $39.69, for a total value of $82,765,398.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder David A. Ladensohn sold 2,085,296 shares of the firm's stock in a transaction dated 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 document filed with the SEC, which is accessible through this link. Also, insider Richard B. Cohen sold 5,000,000 shares of the business's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $38.32, for a total value of $191,600,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,110,447 shares of company stock valued at $275,410,529. Corporate insiders own 38.30% of the company's stock.

Hedge Funds Weigh In On Symbotic

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in Symbotic during the 1st quarter worth approximately $770,000. Washington Harbour Partners LP grew its position in Symbotic by 45.6% in the first quarter. Washington Harbour Partners LP now owns 85,300 shares of the company's stock valued at $3,838,000 after purchasing an additional 26,700 shares in the last quarter. Vista Investment Partners LLC lifted its position in Symbotic by 11.1% during the 1st quarter. Vista Investment Partners LLC now owns 20,496 shares of the company's stock worth $922,000 after buying an additional 2,046 shares in the last quarter. Comerica Bank boosted its stake in shares of Symbotic by 1,347.0% during the 1st quarter. Comerica Bank now owns 16,641 shares of the company's stock worth $749,000 after buying an additional 15,491 shares during the last quarter. Finally, California State Teachers Retirement System grew its holdings in shares of Symbotic by 4.5% in the 1st quarter. California State Teachers Retirement System now owns 15,057 shares of the company's stock valued at $678,000 after acquiring an additional 654 shares in the last quarter.

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.