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

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $43.57, for a total transaction of $87,140.00. The transaction was disclosed in a legal filing with the SEC, which is available through 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, August 3rd, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $45.27, for a total transaction of $90,540.00.
• On Monday, July 6th, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $43.92, for a total value of $87,840.00.

Symbotic Trading Up 2.5%

Shares of SYM stock opened at $42.13 on Friday. The stock has a 50 day simple moving average of $41.90 and a 200-day simple moving average of $47.74. The company has a market cap of $25.48 billion, a price-to-earnings ratio of 468.11, a price-to-earnings-growth ratio of 6.52 and a beta of 1.94. Symbotic Inc. has a 12-month low of $37.68 and a 12-month high of $87.88.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). Symbotic had a net margin of 0.48% and a return on equity of 1.40%. The business had revenue of $720.84 million during the quarter, compared to analysts’ expectations of $715.03 million. During the same quarter last year, the firm earned ($0.05) earnings per share. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. On average, equities analysts forecast that Symbotic Inc. will post 0.21 earnings per share for the current fiscal year.

Institutional Trading of Symbotic

Large investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust raised its stake in shares of Symbotic by 100.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock worth $32,000 after buying an additional 268 shares during the last quarter. Quarry LP acquired a new stake in Symbotic in the 4th quarter valued at about $36,000. Parallel Advisors LLC grew its stake in Symbotic by 67.3% in the 4th 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 last quarter. Gordian Capital Singapore Pte Ltd purchased a new position in Symbotic during the 4th quarter valued at about $48,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Symbotic during the 4th quarter valued at about $55,000.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SYM. Needham & Company LLC reaffirmed a “buy” rating and set a $75.00 price target on shares of Symbotic in a research note on Thursday, August 6th. Robert W. Baird set a $51.00 price objective on shares of Symbotic in a research note on Thursday, August 6th. Zacks Research raised shares of Symbotic from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. The Goldman Sachs Group lowered their target price on shares of Symbotic from $54.00 to $45.00 and set a “sell” rating on the stock in a research report on Tuesday, May 26th. Finally, Weiss Ratings lowered shares of Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, September 4th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Symbotic has a consensus rating of “Hold” and a consensus target price of $65.42.

Symbotic Company Profile

Symbotic Inc is an automation technology company that develops artificial intelligence-enabled robotics and software for large-scale warehouses and distribution centers. Its systems are designed to automate the movement, storage and retrieval of pallets and cases, helping customers manage inventory and improve the efficiency of supply-chain operations.

The company’s platform combines robotics, machine learning, warehouse-control software and automated storage systems. Symbotic’s technology can receive goods, organize inventory, retrieve products and assemble orders for shipment, supporting distribution operations for retail and grocery companies.

Symbotic was founded in 2006 and is headquartered in Wilmington, Massachusetts.