Insider Selling: Symbotic (NASDAQ:SYM) Director Sells 2,000 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $53.27, for a total transaction of $106,540.00. Following the completion of the transaction, the director owned 10,345 shares in the company, valued at $551,078.15. The trade was a 16.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, March 9th, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $47.70, for a total transaction of $95,400.00.
• On Monday, February 2nd, Todd Krasnow sold 4,000 shares of Symbotic stock. The stock was sold at an average price of $53.73, for a total transaction of $214,920.00.

Symbotic Stock Up 5.8%

SYM traded up $2.97 during trading on Wednesday, hitting $54.55. The company’s stock had a trading volume of 1,478,869 shares, compared to its average volume of 1,726,324. Symbotic Inc. has a one year low of $17.75 and a one year high of $87.88. The firm has a market cap of $32.85 billion, a PE ratio of -545.45, a P/E/G ratio of 5.35 and a beta of 2.10. The business’s 50 day simple moving average is $53.68 and its 200-day simple moving average is $61.17.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Wednesday, February 4th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.06). Symbotic had a negative return on equity of 1.88% and a negative net margin of 0.45%.The business had revenue of $629.99 million during the quarter, compared to the consensus estimate of $622.58 million. During the same quarter in the previous year, the business posted ($0.03) earnings per share. The firm’s revenue was up 29.4% on a year-over-year basis. Equities research analysts expect that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Institutional Trading of Symbotic

Institutional investors and hedge funds have recently bought and sold shares of the stock. Parkside Financial Bank & Trust increased its holdings in Symbotic by 100.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock valued at $32,000 after acquiring an additional 268 shares during the last quarter. MAI Capital Management grew its stake in shares of 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 in the last quarter. Quarry LP purchased a new position in shares of Symbotic in the 4th quarter worth $36,000. Parallel Advisors LLC grew its stake in shares of 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 in the last quarter. Finally, Ameriflex Group Inc. grew its stake in shares of 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 in the last quarter.

Analyst Upgrades and Downgrades

SYM has been the subject of a number of analyst reports. DA Davidson increased their price objective on shares of Symbotic from $53.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Zacks Research raised shares of Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Weiss Ratings reissued a “hold (c-)” rating on shares of Symbotic in a research note on Thursday, January 22nd. Wall Street Zen cut shares of Symbotic from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Northland Securities set a $73.00 price objective on shares of Symbotic in a research note on Thursday, February 5th. Six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $64.62.

About Symbotic

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.