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

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $23.96, for a total transaction of $47,920.00. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at approximately $47,920. The trade was a 0.00 % decrease in their ownership of the stock. 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 Tuesday, September 3rd, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $18.75, for a total transaction of $37,500.00.
• On Monday, August 5th, Todd Krasnow sold 17,000 shares of Symbotic stock. The shares were sold at an average price of $21.46, for a total value of $364,820.00.

Symbotic Price Performance

NASDAQ SYM opened at $23.84 on Friday. Symbotic Inc. has a 12 month low of $17.11 and a 12 month high of $59.82. The firm has a market capitalization of $13.96 billion, a PE ratio of -99.33 and a beta of 1.84. The company’s 50 day simple moving average is $22.63 and its 200 day simple moving average is $34.17.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Monday, July 29th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Symbotic had a positive return on equity of 4.08% and a negative net margin of 1.03%. The firm had revenue of $491.86 million during the quarter, compared to the consensus estimate of $464.56 million. During the same period in the prior year, the firm posted ($0.07) EPS. The firm’s quarterly revenue was up 57.7% on a year-over-year basis. Sell-side analysts anticipate that Symbotic Inc. will post -0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SYM has been the topic of several recent research reports. Needham & Company LLC cut their price target on Symbotic from $54.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. BWS Financial reiterated a “sell” rating and issued a $10.00 target price on shares of Symbotic in a research note on Friday, September 27th. TD Cowen lowered their price target on shares of Symbotic from $55.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Northland Securities cut their price objective on shares of Symbotic from $60.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. Finally, KeyCorp reduced their target price on shares of Symbotic from $55.00 to $40.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.23.

Institutional Investors Weigh In On Symbotic

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. raised its holdings in shares of Symbotic by 12.4% in the 2nd quarter. Baillie Gifford & Co. now owns 10,660,949 shares of the company’s stock worth $374,839,000 after purchasing an additional 1,177,578 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Symbotic by 16.6% in the first quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock valued at $109,189,000 after buying an additional 345,386 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Symbotic by 189.5% in the fourth quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company’s stock valued at $54,174,000 after buying an additional 690,900 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Symbotic by 191.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock valued at $27,281,000 after acquiring an additional 509,700 shares during the last quarter. Finally, Raymond James & Associates boosted its stake in shares of Symbotic by 8.4% during the 2nd quarter. Raymond James & Associates now owns 668,103 shares of the company’s stock worth $23,491,000 after acquiring an additional 51,712 shares in the last quarter.

About Symbotic

Symbotic Inc, an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. The company automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Its systems enhance operations at the front end of the supply chain.