Symbotic (NASDAQ:SYM) Director Todd Krasnow Sells 4,000 Shares

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 4,000 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $68.63, for a total transaction of $274,520.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, December 3rd, Todd Krasnow sold 4,000 shares of Symbotic stock. The stock was sold at an average price of $71.00, for a total transaction of $284,000.00.
• On Tuesday, November 4th, Todd Krasnow sold 4,000 shares of Symbotic stock. The shares were sold at an average price of $76.75, for a total transaction of $307,000.00.

Symbotic Stock Up 1.4%

NASDAQ:SYM opened at $70.61 on Friday. The firm has a market cap of $41.77 billion, a PE ratio of -470.73, a price-to-earnings-growth ratio of 19.75 and a beta of 2.13. The company’s 50-day moving average price is $65.26 and its two-hundred day moving average price is $57.77. Symbotic Inc. has a 12 month low of $16.32 and a 12 month high of $87.88.

Symbotic (NASDAQ:SYM) last announced its earnings results on Monday, November 24th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). The business had revenue of $618.46 million during the quarter, compared to analyst estimates of $604.00 million. Symbotic had a negative net margin of 0.75% and a negative return on equity of 3.89%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 earnings per share. On average, research analysts expect that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Analyst Ratings Changes

SYM has been the topic of several research reports. Zacks Research raised Symbotic from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. Cantor Fitzgerald boosted their target price on Symbotic from $60.00 to $82.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. DA Davidson reiterated a “neutral” rating and issued a $47.00 price target on shares of Symbotic in a report on Tuesday, November 25th. Northcoast Research downgraded shares of Symbotic from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 25th. Finally, Cowen reiterated a “buy” rating on shares of Symbotic in a research report on Wednesday, December 3rd. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Symbotic currently has an average rating of “Hold” and a consensus target price of $56.50.

Hedge Funds Weigh In On Symbotic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYM. Wealth Enhancement Advisory Services LLC grew its position in shares of Symbotic by 26.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,641 shares of the company’s stock worth $395,000 after buying an additional 1,372 shares during the period. Green Alpha Advisors LLC boosted its stake in Symbotic by 69.9% during the 4th quarter. Green Alpha Advisors LLC now owns 17,557 shares of the company’s stock worth $1,045,000 after acquiring an additional 7,223 shares during the last quarter. Central Pacific Bank Trust Division grew its holdings in Symbotic by 8.1% during the fourth quarter. Central Pacific Bank Trust Division now owns 10,328 shares of the company’s stock valued at $615,000 after purchasing an additional 777 shares during the period. Werlinich Asset Management LLC acquired a new position in Symbotic during the fourth quarter valued at approximately $403,000. Finally, Allworth Financial LP increased its stake in Symbotic by 504.2% in the third quarter. Allworth Financial LP now owns 2,000 shares of the company’s stock valued at $108,000 after purchasing an additional 1,669 shares in the last quarter.

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.