Symbotic (NASDAQ:SYM) Stock Price Down 0%

Symbotic Inc. (NASDAQ:SYM - Get Free Report)'s stock price traded down 0% during mid-day trading on Wednesday . The stock traded as low as $43.20 and last traded at $43.53. 76,762 shares were traded during mid-day trading, a decline of 95% from the average session volume of 1,402,746 shares. The stock had previously closed at $43.55.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. KeyCorp decreased their target price on Symbotic from $63.00 to $55.00 and set an "overweight" rating for the company in a research report on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft increased their target price on Symbotic from $57.00 to $58.00 and gave the stock a "buy" rating in a research report on Tuesday, May 7th. Northland Securities increased their target price on Symbotic from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 10th. Needham & Company LLC restated a "buy" rating and issued a $54.00 price target on shares of Symbotic in a research note on Tuesday, May 7th. Finally, William Blair restated a "market perform" rating on shares of Symbotic in a research note on Friday, May 10th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.69.

Symbotic Trading Down 1.8 %

The firm has a market capitalization of $25.01 billion, a PE ratio of -178.25 and a beta of 1.97. The firm has a 50 day simple moving average of $43.61 and a 200 day simple moving average of $44.78.

Insider Transactions at Symbotic

In related news, insider Michael David Dunn sold 2,000 shares of the firm's stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $40.00, for a total value of $80,000.00. Following the transaction, the insider now directly owns 72,032 shares of the company's stock, valued at approximately $2,881,280. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Symbotic news, insider William M. Boyd III sold 8,825 shares of the firm's stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $40.34, for a total transaction of $356,000.50. Following the sale, the insider now directly owns 23,012 shares of the company's stock, valued at $928,304.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael David Dunn sold 2,000 shares of the firm's stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $40.00, for a total value of $80,000.00. Following the sale, the insider now directly owns 72,032 shares in the company, valued at $2,881,280. The disclosure for this sale can be found here. Insiders have sold a total of 7,110,447 shares of company stock worth $275,410,529 in the last ninety days. Insiders own 38.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SYM. Commonwealth Equity Services LLC grew its position in Symbotic by 70.8% in the third quarter. Commonwealth Equity Services LLC now owns 16,266 shares of the company's stock worth $544,000 after acquiring an additional 6,743 shares in the last quarter. Bank of New York Mellon Corp grew its position in Symbotic by 15.3% in the third quarter. Bank of New York Mellon Corp now owns 60,466 shares of the company's stock worth $2,021,000 after acquiring an additional 8,041 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Symbotic during the third quarter valued at approximately $802,000. Jump Financial LLC boosted its position in shares of Symbotic by 250.2% during the third quarter. Jump Financial LLC now owns 97,360 shares of the company's stock valued at $3,255,000 after buying an additional 69,560 shares during the period. Finally, Barclays PLC boosted its position in shares of Symbotic by 195.5% during the third quarter. Barclays PLC now owns 8,008 shares of the company's stock valued at $268,000 after buying an additional 5,298 shares during the period.

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.