Symbotic (NASDAQ:SYM) Insider Maria Freve Sells 1,666 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) insider Maria Freve sold 1,666 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $58.18, for a total value of $96,927.88. Following the transaction, the insider owned 544 shares in the company, valued at $31,649.92. The trade was a 75.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Symbotic Price Performance

Shares of Symbotic stock traded up $4.99 during trading on Thursday, reaching $58.95. 388,172 shares of the company traded hands, compared to its average volume of 1,981,462. Symbotic Inc. has a 1-year low of $16.32 and a 1-year high of $84.00. The company has a 50 day moving average price of $63.75 and a 200-day moving average price of $48.91. The firm has a market capitalization of $34.81 billion, a PE ratio of -845.02, a P/E/G ratio of 8.91 and a beta of 2.10.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Arete cut shares of Symbotic from a “buy” rating to a “neutral” rating and set a $50.00 price objective on the stock. in a research report on Friday, July 25th. Robert W. Baird cut Symbotic from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research note on Thursday, August 7th. Wall Street Zen raised Symbotic from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Northcoast Research set a $65.00 price target on shares of Symbotic and gave the company a “buy” rating in a research report on Thursday, October 2nd. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $47.00 price objective (up from $35.00) on shares of Symbotic in a research note on Monday, August 25th. Seven equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $44.41.

Institutional Investors Weigh In On Symbotic

Institutional investors have recently added to or reduced their stakes in the company. Private Trust Co. NA grew its holdings 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 acquiring an additional 200 shares in the last quarter. Centerpoint Advisors LLC boosted its position in Symbotic by 16.7% in the third quarter. Centerpoint Advisors LLC now owns 1,400 shares of the company’s stock worth $75,000 after purchasing an additional 200 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Symbotic by 4.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,627 shares of the company’s stock valued at $357,000 after purchasing an additional 273 shares during the period. AlphaQuest LLC increased its position in shares of 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 purchasing an additional 287 shares during the last quarter. Finally, Bouvel Investment Partners LLC raised its stake in shares of Symbotic by 0.8% during the 3rd quarter. Bouvel Investment Partners LLC now owns 44,479 shares of the company’s stock worth $2,397,000 after purchasing an additional 336 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.