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

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $43.57, for a total transaction of $87,140.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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, August 3rd, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $45.27, for a total value of $90,540.00.
• On Monday, July 6th, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $43.92, for a total value of $87,840.00.

Symbotic Stock Down 3.6%

Shares of NASDAQ SYM opened at $41.10 on Friday. The stock has a market cap of $24.86 billion, a PE ratio of 456.67, a price-to-earnings-growth ratio of 6.77 and a beta of 1.94. Symbotic Inc. has a 52-week low of $37.68 and a 52-week high of $87.88. The business has a 50-day moving average price of $41.91 and a 200 day moving average price of $47.78.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, September 4th. Zacks Research upgraded Symbotic from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th. The Goldman Sachs Group reduced their price objective on 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 reaffirmed a “buy” rating and set a $75.00 price objective on shares of Symbotic in a research report on Thursday, August 6th. Finally, Robert W. Baird set a $51.00 target price on Symbotic in a report on Thursday, August 6th. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Symbotic currently has a consensus rating of “Hold” and a consensus target price of $65.42.

Institutional Trading of Symbotic

Hedge funds and other institutional investors have recently made changes to their positions in the company. Handelsbanken Fonder AB boosted its position in shares of Symbotic by 54.3% in the 4th quarter. Handelsbanken Fonder AB now owns 423,020 shares of the company’s stock worth $25,170,000 after buying an additional 148,842 shares in the last quarter. Polianta Ltd purchased a new position in Symbotic during the 1st quarter valued at about $1,596,000. Financiere des Professionnels Fonds d investissement inc. acquired a new position in Symbotic during the first quarter worth about $788,000. Seven Grand Managers LLC purchased a new stake in shares of Symbotic in the fourth quarter valued at about $4,462,000. Finally, Black Swift Group LLC purchased a new stake in shares of Symbotic in the fourth quarter valued at about $1,971,000.

Symbotic Company Profile

Symbotic Inc is an automation technology company that develops artificial intelligence-enabled robotics and software for large-scale warehouses and distribution centers. Its systems are designed to automate the movement, storage and retrieval of pallets and cases, helping customers manage inventory and improve the efficiency of supply-chain operations.

The company’s platform combines robotics, machine learning, warehouse-control software and automated storage systems. Symbotic’s technology can receive goods, organize inventory, retrieve products and assemble orders for shipment, supporting distribution operations for retail and grocery companies.

Symbotic was founded in 2006 and is headquartered in Wilmington, Massachusetts.