Symbotic Inc. (NASDAQ:SYM) Director Sells $48,080.00 in Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $24.04, for a total transaction of $48,080.00. Following the transaction, the director now directly owns 214,036 shares in the company, valued at $5,145,425.44. This represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Monday, November 4th, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $28.15, for a total value of $56,300.00.

Symbotic Stock Up 3.4 %

Shares of SYM stock opened at $26.45 on Thursday. The firm has a market capitalization of $15.54 billion, a P/E ratio of -440.83 and a beta of 1.76. Symbotic Inc. has a twelve month low of $17.11 and a twelve month high of $52.20. The stock’s fifty day simple moving average is $28.40 and its 200 day simple moving average is $27.83.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Monday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The company had revenue of $576.77 million during the quarter, compared to the consensus estimate of $470.24 million. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. The firm’s revenue was up 47.2% compared to the same quarter last year. As a group, equities research analysts expect that Symbotic Inc. will post 0.12 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Craig Hallum downgraded Symbotic from a “buy” rating to a “hold” rating and set a $25.00 target price for the company. in a research report on Wednesday, November 27th. Needham & Company LLC reduced their price objective on shares of Symbotic from $46.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. KeyCorp restated a “sector weight” rating on shares of Symbotic in a research report on Wednesday, November 27th. The Goldman Sachs Group reduced their price target on shares of Symbotic from $34.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 4th. Finally, William Blair restated a “market perform” rating on shares of Symbotic in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Symbotic presently has a consensus rating of “Hold” and an average price target of $40.71.

Hedge Funds Weigh In On Symbotic

A number of hedge funds have recently modified their holdings of SYM. Castleview Partners LLC raised its position in Symbotic by 50.0% during the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after purchasing an additional 500 shares during the last quarter. Quarry LP acquired a new stake in shares of Symbotic in the second quarter valued at about $65,000. Arcadia Investment Management Corp MI bought a new position in shares of Symbotic during the third quarter worth about $49,000. RiverPark Advisors LLC lifted its stake in shares of Symbotic by 147.1% in the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after acquiring an additional 1,211 shares during the period. Finally, Quest Partners LLC boosted its holdings in Symbotic by 19,307.7% in the third quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock valued at $62,000 after acquiring an additional 2,510 shares during the last quarter.

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.