Symbotic (NASDAQ:SYM) Director Todd Krasnow Sells 25,422 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 25,422 shares of Symbotic stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $52.45, for a total transaction of $1,333,383.90. Following the completion of the sale, the director directly owned 182,036 shares in the company, valued at $9,547,788.20. This trade represents a 12.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Monday, May 4th, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $57.61, for a total transaction of $115,220.00.
• On Monday, April 6th, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $53.27, for a total transaction of $106,540.00.
• On Monday, March 9th, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $47.70, for a total transaction of $95,400.00.

Symbotic Trading Down 3.1%

NASDAQ:SYM opened at $49.73 on Thursday. The stock has a market capitalization of $29.95 billion, a PE ratio of -994.40, a price-to-earnings-growth ratio of 5.14 and a beta of 2.03. The firm’s 50 day moving average is $54.49 and its 200 day moving average is $60.15. Symbotic Inc. has a 12 month low of $26.03 and a 12 month high of $87.88.

Symbotic (NASDAQ:SYM) last issued its earnings results on Wednesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.11). Symbotic had a negative net margin of 0.20% and a negative return on equity of 0.68%. The business had revenue of $676.48 million for the quarter, compared to the consensus estimate of $662.66 million. During the same period in the previous year, the firm earned ($0.04) EPS. The company’s revenue was up 23.1% compared to the same quarter last year. Research analysts predict that Symbotic Inc. will post 0.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SYM. Vanguard Group Inc. grew its position in Symbotic by 47.6% in the fourth quarter. Vanguard Group Inc. now owns 6,932,158 shares of the company’s stock worth $412,463,000 after acquiring an additional 2,237,137 shares in the last quarter. JPMorgan Chase & Co. grew its position in Symbotic by 51,346.1% in the fourth quarter. JPMorgan Chase & Co. now owns 2,174,372 shares of the company’s stock worth $129,375,000 after acquiring an additional 2,178,615 shares in the last quarter. Morgan Stanley grew its position in Symbotic by 85.4% in the fourth quarter. Morgan Stanley now owns 2,530,874 shares of the company’s stock worth $150,587,000 after acquiring an additional 1,165,513 shares in the last quarter. Ghisallo Capital Management LLC purchased a new position in Symbotic in the fourth quarter worth $63,034,000. Finally, Marshall Wace LLP purchased a new position in Symbotic in the fourth quarter worth $33,997,000.

Analyst Ratings Changes

A number of brokerages have issued reports on SYM. Northland Securities set a $73.00 target price on shares of Symbotic in a report on Thursday, February 5th. The Goldman Sachs Group reissued a “sell” rating and set a $50.00 target price on shares of Symbotic in a report on Thursday, January 15th. Weiss Ratings cut shares of Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Zacks Research raised shares of Symbotic from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. Finally, Barclays boosted their target price on shares of Symbotic from $42.00 to $44.00 and gave the company an “underweight” rating in a report on Monday, March 16th. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Symbotic has an average rating of “Hold” and a consensus price target of $65.62.

About Symbotic

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.