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

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $47.30, for a total transaction of $94,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 Friday, May 22nd, Todd Krasnow sold 19,655 shares of Symbotic stock. The shares were sold at an average price of $53.73, for a total transaction of $1,056,063.15.
• On Friday, May 22nd, Todd Krasnow sold 6,978 shares of Symbotic stock. The shares were sold at an average price of $52.12, for a total transaction of $363,693.36.
• On Monday, May 11th, Todd Krasnow sold 25,422 shares of Symbotic stock. The shares were sold at an average price of $52.45, for a total transaction of $1,333,383.90.
• On Monday, May 4th, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were 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 shares were 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 shares were sold at an average price of $47.70, for a total transaction of $95,400.00.

Symbotic Trading Down 3.8%

Shares of Symbotic stock opened at $47.21 on Thursday. The company has a 50-day moving average of $54.08 and a two-hundred day moving average of $57.84. Symbotic Inc. has a 12-month low of $27.26 and a 12-month high of $87.88. The stock has a market cap of $28.45 billion, a PE ratio of -944.01, a price-to-earnings-growth ratio of 7.24 and a beta of 1.91.

Symbotic (NASDAQ:SYM) last posted its earnings results on Wednesday, May 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $662.66 million. During the same quarter last year, the business posted ($0.04) earnings per share. The business’s revenue was up 23.1% compared to the same quarter last year. On average, sell-side analysts forecast that Symbotic Inc. will post 0.23 EPS for the current fiscal year.

Institutional Trading of Symbotic

A number of hedge funds have recently bought and sold shares of SYM. MAI Capital Management boosted its position in Symbotic by 833.3% during the third quarter. MAI Capital Management now owns 560 shares of the company’s stock worth $30,000 after acquiring an additional 500 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Symbotic by 100.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock worth $32,000 after acquiring an additional 268 shares during the last quarter. Quarry LP acquired a new stake in Symbotic during the fourth quarter worth approximately $36,000. Parallel Advisors LLC boosted its position in Symbotic by 67.3% during the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock worth $37,000 after acquiring an additional 249 shares during the last quarter. Finally, Ameriflex Group Inc. boosted its position in shares of Symbotic by 1,500.0% in the third quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock worth $38,000 after acquiring an additional 660 shares during the last quarter.

Analyst Ratings Changes

SYM has been the subject of a number of recent research reports. The Goldman Sachs Group dropped their price objective on shares of Symbotic from $54.00 to $45.00 and set a “sell” rating for the company in a research note on Tuesday, May 26th. Needham & Company LLC raised their price objective on shares of Symbotic from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Citigroup reissued an “outperform” rating on shares of Symbotic in a research note on Thursday, February 5th. Zacks Research raised shares of Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings cut shares of Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $65.23.

Symbotic Company Profile

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.