Symbotic (NASDAQ:SYM) Shares Up 1.3% – Time to Buy?

by · The Markets Daily

Symbotic Inc. (NASDAQ:SYMGet Free Report)’s stock price shot up 1.3% on Monday . The company traded as high as $75.50 and last traded at $70.72. 1,228,985 shares were traded during mid-day trading, a decline of 38% from the average session volume of 1,992,973 shares. The stock had previously closed at $69.80.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wall Street Zen raised shares of Symbotic from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of Symbotic in a report on Wednesday, October 8th. Arete lowered Symbotic from a “buy” rating to a “neutral” rating and set a $50.00 target price on the stock. in a report on Friday, July 25th. DA Davidson reissued a “neutral” rating and issued a $47.00 price target (up from $35.00) on shares of Symbotic in a report on Monday, August 25th. Finally, Citigroup reaffirmed a “buy” rating on shares of Symbotic in a research note on Monday, July 14th. Seven analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $44.61.

Read Our Latest Stock Report on SYM

Symbotic Stock Up 1.3%

The firm has a market cap of $41.76 billion, a price-to-earnings ratio of -1,010.14, a price-to-earnings-growth ratio of 11.75 and a beta of 2.10. The company’s 50-day moving average price is $61.66 and its 200-day moving average price is $46.95.

Insider Transactions at Symbotic

In other Symbotic news, Director Todd Krasnow sold 4,000 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $76.75, for a total transaction of $307,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Maria G. Freve sold 662 shares of Symbotic stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $70.95, for a total value of $46,968.90. Following the completion of the sale, the insider directly owned 1,312 shares in the company, valued at $93,086.40. This represents a 33.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 433,494 shares of company stock valued at $22,365,874 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Symbotic

Large investors have recently modified their holdings of the business. Private Trust Co. NA raised its position in shares of Symbotic by 10.0% in the second quarter. Private Trust Co. NA now owns 2,200 shares of the company’s stock valued at $85,000 after buying an additional 200 shares during the last quarter. Centerpoint Advisors LLC boosted its position in Symbotic by 16.7% during the third quarter. Centerpoint Advisors LLC now owns 1,400 shares of the company’s stock worth $75,000 after acquiring an additional 200 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Symbotic by 4.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,627 shares of the company’s stock valued at $357,000 after acquiring an additional 273 shares in the last quarter. AlphaQuest LLC grew its stake in Symbotic by 12.9% during the 3rd quarter. AlphaQuest LLC now owns 2,519 shares of the company’s stock valued at $136,000 after acquiring an additional 287 shares in the last quarter. Finally, Bouvel Investment Partners LLC raised its holdings in Symbotic by 0.8% in the 3rd quarter. Bouvel Investment Partners LLC now owns 44,479 shares of the company’s stock valued at $2,397,000 after acquiring an additional 336 shares during the last quarter.

Symbotic Company Profile

(Get Free Report)

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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