Symbotic (NASDAQ:SYM) Stock: Insider Todd Krasnow Sells 2,000 Shares

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $42.72, for a total value of $85,440.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, September 8th, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $43.57, for a total value of $87,140.00.
• On Monday, August 3rd, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $45.27, for a total value of $90,540.00.

Symbotic Stock Performance

NASDAQ:SYM opened at $42.06 on Friday. The stock’s fifty day moving average is $42.27 and its 200 day moving average is $46.46. Symbotic Inc. has a fifty-two week low of $37.68 and a fifty-two week high of $87.88. The firm has a market capitalization of $25.44 billion, a PE ratio of 467.33, a PEG ratio of 4.81 and a beta of 1.97.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). Symbotic had a return on equity of 1.40% and a net margin of 0.48%.The company had revenue of $720.84 million during the quarter, compared to the consensus estimate of $715.03 million. During the same quarter in the prior year, the business earned ($0.05) earnings per share. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. Equities analysts forecast that Symbotic Inc. will post 0.21 EPS for the current year.

Institutional Investors Weigh In On Symbotic

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Green Alpha Advisors LLC grew its stake in Symbotic by 7.1% in the 3rd quarter. Green Alpha Advisors LLC now owns 18,087 shares of the company’s stock worth $761,000 after acquiring an additional 1,201 shares in the last quarter. Toth Financial Advisory Corp raised its stake in shares of Symbotic by 88.7% during the third quarter. Toth Financial Advisory Corp now owns 632 shares of the company’s stock valued at $27,000 after acquiring an additional 297 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Symbotic by 7.2% in the second quarter. QRG Capital Management Inc. now owns 5,100 shares of the company’s stock valued at $229,000 after purchasing an additional 344 shares during the period. BlueCrest Capital Management Ltd purchased a new stake in shares of Symbotic in the second quarter valued at approximately $450,000. Finally, Engineers Gate Manager LP grew its stake in Symbotic by 469.6% in the second quarter. Engineers Gate Manager LP now owns 56,930 shares of the company’s stock worth $2,559,000 after purchasing an additional 46,936 shares in the last quarter.

Wall Street Analysts Forecast Growth

SYM has been the topic of several analyst reports. Barclays cut their price target on shares of Symbotic from $44.00 to $38.00 and set an “underweight” rating on the stock in a report on Tuesday, September 8th. Zacks Research upgraded Symbotic from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th. Weiss Ratings raised Symbotic from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, September 21st. Robert W. Baird set a $51.00 price target on Symbotic in a report on Thursday, August 6th. Finally, Needham & Company LLC decreased their price target on Symbotic from C$75.00 to C$60.00 and set a “buy” rating for the company in a research note on Tuesday, September 15th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $65.45.

About Symbotic

Symbotic Inc is a technology company that develops automation systems for warehouse and supply-chain operations. Its platform combines artificial intelligence, robotics, software and high-speed material-handling equipment to automate the movement, storage and retrieval of goods within large distribution centers.

The company’s solutions are designed to manage products from inbound receiving and pallet depalletizing through storage, replenishment, order assembly and outbound shipping. Symbotic’s systems use autonomous robots and software to organize inventory and build store-ready orders, helping retailers and other supply-chain operators improve warehouse utilization, throughput and operational consistency.

Symbotic primarily serves large retail and grocery distribution networks, with deployments concentrated in North America.