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

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 4,000 shares of Symbotic stock in a transaction that occurred 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 legal filing with the SEC, which is available through the SEC website.

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 value 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 value of $307,000.00.

Symbotic Stock Performance

NASDAQ:SYM opened at $70.82 on Friday. The company’s 50-day simple moving average is $65.06 and its 200-day simple moving average is $58.03. Symbotic Inc. has a fifty-two week low of $16.32 and a fifty-two week high of $87.88. The stock has a market capitalization of $41.89 billion, a P/E ratio of -472.13, a P/E/G ratio of 20.03 and a beta of 2.13.

Symbotic (NASDAQ:SYM) last announced its earnings results on Monday, November 24th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.11). The firm 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%. Symbotic’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the business earned $0.47 earnings per share. On average, research analysts forecast that Symbotic Inc. will post 0.13 EPS for the current year.

Hedge Funds Weigh In On Symbotic

Hedge funds and other institutional investors have recently bought and sold shares of the business. MAI Capital Management raised 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 buying an additional 500 shares during the last quarter. Ameriflex Group Inc. increased its stake in shares of Symbotic by 1,500.0% in the third quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock worth $38,000 after acquiring an additional 660 shares during the period. Strategic Advocates LLC acquired a new stake in shares of Symbotic in the third quarter worth $42,000. IAG Wealth Partners LLC purchased a new position in shares of Symbotic during the second quarter worth $32,000. Finally, AdvisorNet Financial Inc acquired a new position in Symbotic during the second quarter valued at $32,000.

Wall Street Analyst Weigh In

A number of research firms have commented on SYM. Deutsche Bank Aktiengesellschaft increased their price target on Symbotic from $55.00 to $63.00 and gave the company a “hold” rating in a research note on Tuesday, November 25th. Citigroup increased their price objective on shares of Symbotic from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Symbotic in a research note on Wednesday, October 8th. Oppenheimer reissued an “outperform” rating and set a $83.00 target price on shares of Symbotic in a research report on Tuesday, November 25th. Finally, The Goldman Sachs Group cut shares of Symbotic from a “neutral” rating to a “sell” rating and set a $47.00 price target for the company. in a report on Tuesday, December 2nd. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $56.50.

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.