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

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $47.70, for a total transaction of $95,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, February 2nd, Todd Krasnow sold 4,000 shares of Symbotic stock. The shares were sold at an average price of $53.73, for a total value of $214,920.00.
• On Monday, January 5th, Todd Krasnow sold 4,000 shares of Symbotic stock. The stock was sold at an average price of $68.63, for a total value of $274,520.00.

Symbotic Trading Up 2.3%

Shares of NASDAQ:SYM traded up $1.13 during trading on Wednesday, hitting $51.01. The company’s stock had a trading volume of 895,340 shares, compared to its average volume of 1,379,527. Symbotic Inc. has a fifty-two week low of $16.32 and a fifty-two week high of $87.88. The stock’s 50-day moving average price is $59.17 and its two-hundred day moving average price is $60.72.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.06). Symbotic had a negative net margin of 0.45% and a negative return on equity of 1.88%. The business had revenue of $629.99 million for the quarter, compared to analyst estimates of $622.58 million. During the same quarter last year, the business earned ($0.03) EPS. Symbotic’s revenue for the quarter was up 29.4% compared to the same quarter last year. As a group, sell-side analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SYM shares. UBS Group set a $70.00 price target on shares of Symbotic in a research note on Wednesday, February 18th. Northcoast Research lowered shares of Symbotic from a “buy” rating to a “neutral” rating in a report on Tuesday, November 25th. Barclays boosted their target price on shares of Symbotic from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Monday, January 12th. Cantor Fitzgerald upped their target price on shares of Symbotic from $60.00 to $82.00 and gave the company an “overweight” rating in a research note on Tuesday, November 25th. Finally, Needham & Company LLC increased their target price on Symbotic from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $60.57.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Symbotic by 47.6% in the 4th quarter. Vanguard Group Inc. now owns 6,932,158 shares of the company’s stock valued at $412,463,000 after buying an additional 2,237,137 shares during the period. Morgan Stanley raised its stake in Symbotic by 85.4% during the fourth quarter. Morgan Stanley now owns 2,530,874 shares of the company’s stock worth $150,587,000 after acquiring an additional 1,165,513 shares during the period. JPMorgan Chase & Co. lifted its holdings in Symbotic by 51,346.1% in the fourth quarter. JPMorgan Chase & Co. now owns 2,174,372 shares of the company’s stock worth $129,375,000 after acquiring an additional 2,178,615 shares during the last quarter. UBS Group AG boosted its stake in Symbotic by 22.3% in the third quarter. UBS Group AG now owns 1,105,770 shares of the company’s stock valued at $59,601,000 after acquiring an additional 201,547 shares during the period. Finally, Ghisallo Capital Management LLC acquired a new position in Symbotic in the fourth quarter valued at approximately $63,034,000.

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.