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

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $38.46, for a total value of $76,920.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, October 5th, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $42.72, for a total value of $85,440.00.
• 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 transaction of $87,140.00.

Symbotic Price Performance

Shares of NASDAQ:SYM opened at $37.51 on Thursday. The firm has a fifty day moving average price of $41.12 and a two-hundred day moving average price of $47.73. The company has a market cap of $22.69 billion, a price-to-earnings ratio of 416.89, a PEG ratio of 3.55 and a beta of 2.06. Symbotic Inc. has a one year low of $36.02 and a one year high of $87.88.

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

Hedge Funds Weigh In On Symbotic

Several institutional investors and hedge funds have recently made changes to their positions in SYM. Sei Investments Co. boosted its holdings in Symbotic by 21.0% during the 1st quarter. Sei Investments Co. now owns 144,420 shares of the company’s stock valued at $7,683,000 after acquiring an additional 25,024 shares during the period. Dimensional Fund Advisors LP grew its position in Symbotic by 26.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 109,015 shares of the company’s stock worth $5,789,000 after acquiring an additional 22,895 shares during the last quarter. Amundi increased its stake in Symbotic by 68.5% in the 1st quarter. Amundi now owns 108,553 shares of the company’s stock worth $5,775,000 after purchasing an additional 44,132 shares during the period. Royal Bank of Canada increased its stake in Symbotic by 41.1% in the 1st quarter. Royal Bank of Canada now owns 100,018 shares of the company’s stock worth $5,321,000 after purchasing an additional 29,152 shares during the period. Finally, Wealthfront Advisers LLC increased its stake in Symbotic by 168.1% in the 1st quarter. Wealthfront Advisers LLC now owns 71,248 shares of the company’s stock worth $3,790,000 after purchasing an additional 44,676 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Zacks Research raised Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. TD Cowen cut their price objective on Symbotic from $75.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. Weiss Ratings upgraded Symbotic from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, September 21st. Needham & Company LLC decreased their price objective on Symbotic from C$75.00 to C$60.00 and set a “buy” rating on the stock in a report on Tuesday, September 15th. Finally, Robert W. Baird set a $51.00 target price on Symbotic in a research report on Thursday, August 6th. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $65.83.

About Symbotic

Symbotic Inc is an automation technology company that develops artificial intelligence-enabled robotics and software for supply chain and warehouse operations. Its systems are designed to automate the movement, storage, retrieval and replenishment of pallets and cases within large distribution centers, helping customers manage inventory and fulfill orders more efficiently.

The company’s platform combines mobile robots, automated storage and retrieval systems, robotic palletizing and depalletizing equipment, and warehouse-control software.