Todd Krasnow Sells 2,000 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $23.96, for a total transaction of $47,920.00. Following the transaction, the director now owns 2,000 shares in the company, valued at $47,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Todd Krasnow also recently made the following trade(s):

• On Tuesday, September 3rd, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $18.75, for a total value of $37,500.00.
• On Monday, August 5th, Todd Krasnow sold 17,000 shares of Symbotic stock. The stock was sold at an average price of $21.46, for a total transaction of $364,820.00.

Symbotic Stock Performance

SYM stock traded down $1.12 on Thursday, reaching $23.06. The company’s stock had a trading volume of 1,415,383 shares, compared to its average volume of 1,599,866. The business has a fifty day simple moving average of $23.22 and a two-hundred day simple moving average of $34.47. The firm has a market cap of $13.50 billion, a PE ratio of -99.62 and a beta of 1.81. Symbotic Inc. has a 12-month low of $17.11 and a 12-month high of $59.82.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Monday, July 29th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). Symbotic had a negative net margin of 1.03% and a positive return on equity of 4.08%. The firm had revenue of $491.86 million for the quarter, compared to the consensus estimate of $464.56 million. During the same period in the previous year, the firm posted ($0.07) earnings per share. The business’s revenue was up 57.7% compared to the same quarter last year. As a group, research analysts anticipate that Symbotic Inc. will post -0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Symbotic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SYM. Wells Fargo & Company MN boosted its stake in Symbotic by 170.4% during the fourth quarter. Wells Fargo & Company MN now owns 171,585 shares of the company’s stock worth $8,807,000 after acquiring an additional 108,126 shares in the last quarter. US Bancorp DE boosted its position in shares of Symbotic by 434.6% in the 4th quarter. US Bancorp DE now owns 13,344 shares of the company’s stock worth $685,000 after purchasing an additional 10,848 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Symbotic by 201.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 17,274 shares of the company’s stock worth $887,000 after buying an additional 11,550 shares during the last quarter. First Trust Advisors LP increased its position in Symbotic by 44.0% during the 4th quarter. First Trust Advisors LP now owns 510,237 shares of the company’s stock valued at $26,190,000 after buying an additional 155,828 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its stake in Symbotic by 189.5% during the fourth quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company’s stock valued at $54,174,000 after buying an additional 690,900 shares during the last quarter.

Analysts Set New Price Targets

Several analysts have issued reports on SYM shares. The Goldman Sachs Group lowered their target price on Symbotic from $40.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Citigroup dropped their price objective on shares of Symbotic from $62.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Needham & Company LLC dropped their price objective on Symbotic from $54.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Northland Securities reduced their target price on Symbotic from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Finally, KeyCorp reduced their price objective on shares of Symbotic from $55.00 to $40.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.23.

Symbotic Company Profile

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.