Symbotic (NASDAQ:SYM) Director Todd Krasnow Sells 3,367 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 3,367 shares of Symbotic stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $51.00, for a total transaction of $171,717.00. The transaction was disclosed in a 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 Monday, July 6th, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $43.92, for a total transaction of $87,840.00.
• On Monday, June 1st, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $47.30, for a total value of $94,600.00.
• On Friday, May 22nd, Todd Krasnow sold 19,655 shares of Symbotic stock. The stock was sold at an average price of $53.73, for a total value of $1,056,063.15.
• On Friday, May 22nd, Todd Krasnow sold 6,978 shares of Symbotic stock. The stock was sold at an average price of $52.12, for a total value 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 value 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 value of $115,220.00.

Symbotic Stock Performance

SYM stock opened at $41.69 on Thursday. The company has a market cap of $25.13 billion, a price-to-earnings ratio of -833.63, a P/E/G ratio of 6.09 and a beta of 1.93. The business’s 50-day moving average is $47.12 and its two-hundred day moving average is $53.92. Symbotic Inc. has a fifty-two week low of $38.19 and a fifty-two week high of $87.88.

Symbotic (NASDAQ:SYM) last released its quarterly 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 firm had revenue of $676.48 million for the quarter, compared to the consensus estimate of $662.65 million. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. Equities analysts predict that Symbotic Inc. will post 0.23 earnings per share for the current year.

Symbotic News Summary

Here are the key news stories impacting Symbotic this week:

• Positive Sentiment: Analysts and recent commentary continue to argue that Symbotic could be undervalued relative to its warehouse automation growth narrative, with some articles saying the stock still looks cheap after a long run. Symbotic (SYM) Stock Still Looks Cheap Following Its 315% Run
• Neutral Sentiment: Research notes highlight mixed views on the stock, including a Hold-style rating from Zacks and a broader analyst consensus that remains around Hold despite several buy ratings. Symbotic (SYM) Could Be 32% Undervalued On Its Warehouse Automation Narrative
• Negative Sentiment: Recent insider sales from multiple directors may be read as a lack of near-term confidence, adding to pressure on the shares. Symbotic (NASDAQ:SYM) Director Sells 2,000 Shares

Institutional Investors Weigh In On Symbotic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in shares of Symbotic by 28.8% in the first quarter. Royal Bank of Canada now owns 84,856 shares of the company’s stock worth $1,714,000 after purchasing an additional 18,967 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Symbotic by 15.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 84,899 shares of the company’s stock valued at $1,716,000 after purchasing an additional 11,098 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Symbotic during the 2nd quarter valued at $804,000. Invesco Ltd. lifted its stake in shares of Symbotic by 33.2% during the 2nd quarter. Invesco Ltd. now owns 304,207 shares of the company’s stock valued at $11,818,000 after buying an additional 75,828 shares in the last quarter. Finally, Cresset Asset Management LLC purchased a new position in shares of Symbotic during the 2nd quarter valued at $267,000.

Analysts Set New Price Targets

SYM has been the subject of a number of research reports. The Goldman Sachs Group reduced their target price on shares of Symbotic from $54.00 to $45.00 and set a “sell” rating for the company in a report on Tuesday, May 26th. DA Davidson restated a “buy” rating and issued a $70.00 price objective on shares of Symbotic in a research note on Monday, May 11th. Barclays raised their target price on Symbotic from $42.00 to $44.00 and gave the stock an “underweight” rating in a report on Monday, March 16th. Finally, Weiss Ratings downgraded Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Symbotic presently has an average rating of “Hold” and an average price target of $65.23.

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.