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

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction on Monday, March 9th. The stock was sold at an average price of $47.70, for a total value of $95,400.00. The sale was disclosed in a filing with the SEC, which is available at 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 transaction of $274,520.00.

Symbotic Stock Down 0.8%

SYM opened at $50.58 on Friday. The firm’s 50-day moving average price is $58.99 and its 200-day moving average price is $60.65. The company has a market cap of $30.46 billion, a P/E ratio of -505.75, a price-to-earnings-growth ratio of 5.11 and a beta of 2.13. Symbotic Inc. has a 52-week low of $16.32 and a 52-week high of $87.88.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Wednesday, February 4th. The company reported $0.02 EPS for the quarter, missing the consensus estimate 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 company had revenue of $629.99 million for the quarter, compared to the consensus estimate of $622.58 million. During the same period last year, the company earned ($0.03) earnings per share. Symbotic’s revenue for the quarter was up 29.4% compared to the same quarter last year. On average, research analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Needham & Company LLC boosted their target price on Symbotic from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Barclays raised their target price on Symbotic from $41.00 to $42.00 and gave the stock an “underweight” rating in a research note on Monday, January 12th. Wall Street Zen cut Symbotic from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Northland Securities set a $73.00 price target on Symbotic in a research note on Thursday, February 5th. Finally, Northcoast Research downgraded shares of Symbotic from a “buy” rating to a “neutral” rating in a report on Tuesday, November 25th. Six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $60.57.

Hedge Funds Weigh In On Symbotic

Institutional investors have recently added to or reduced their stakes in the business. MAI Capital Management lifted its position in Symbotic by 833.3% during the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock worth $30,000 after acquiring an additional 500 shares during the period. IAG Wealth Partners LLC bought a new position in shares of Symbotic in the 2nd quarter valued at about $32,000. Parkside Financial Bank & Trust grew its stake in shares of Symbotic by 100.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock worth $32,000 after acquiring an additional 268 shares in the last quarter. Quarry LP bought a new stake in shares of Symbotic in the 4th quarter valued at approximately $36,000. Finally, Parallel Advisors LLC lifted its stake in shares of Symbotic by 67.3% during the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock valued at $37,000 after acquiring an additional 249 shares during the period.

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.