Todd Krasnow Sells 19,655 Shares of Symbotic (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 19,655 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $53.73, for a total transaction of $1,056,063.15. Following the completion of the sale, the director owned 177,036 shares of the company’s stock, valued at approximately $9,512,144.28. This trade represents a 9.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• 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 Stock Performance

NASDAQ:SYM traded up $0.76 on Wednesday, hitting $53.63. The stock had a trading volume of 1,723,745 shares, compared to its average volume of 1,742,421. The stock has a market cap of $32.32 billion, a P/E ratio of -1,072.39, a price-to-earnings-growth ratio of 7.97 and a beta of 2.03. Symbotic Inc. has a 1 year low of $27.26 and a 1 year high of $87.88. The firm’s fifty day simple moving average is $54.36 and its two-hundred day simple moving average is $58.59.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.11). The firm had revenue of $676.48 million during the quarter, compared to analysts’ expectations of $662.66 million. Symbotic had a negative net margin of 0.20% and a negative return on equity of 0.68%. The company’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.04) EPS. Equities research analysts predict that Symbotic Inc. will post 0.23 EPS for the current year.

Analyst Upgrades and Downgrades

SYM has been the subject of several analyst reports. Barclays increased their price objective on shares of Symbotic from $42.00 to $44.00 and gave the company an “underweight” rating in a research note on Monday, March 16th. Needham & Company LLC raised their price target 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. Zacks Research upgraded shares of Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. The Goldman Sachs Group decreased their price target on shares of Symbotic from $54.00 to $45.00 and set a “sell” rating for the company in a research note on Tuesday. Finally, DA Davidson restated a “buy” rating and set a $70.00 price target on shares of Symbotic 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $65.23.

Institutional Investors Weigh In On Symbotic

Large investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust increased its stake in shares of Symbotic by 100.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock worth $32,000 after purchasing an additional 268 shares during the last quarter. MAI Capital Management boosted its holdings in Symbotic by 833.3% in the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock worth $30,000 after buying an additional 500 shares during the period. Quarry LP bought a new position in Symbotic in the 4th quarter worth approximately $36,000. Parallel Advisors LLC boosted its holdings in Symbotic by 67.3% in the 4th quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock worth $37,000 after buying an additional 249 shares during the period. Finally, Ameriflex Group Inc. boosted its holdings in Symbotic by 1,500.0% in the 3rd quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock worth $38,000 after buying an additional 660 shares during the period.

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.