Todd Krasnow Sells 3,367 Shares of Symbotic (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 3,367 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $51.00, for a total value of $171,717.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, July 6th, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $43.92, for a total value of $87,840.00.
• On Monday, June 1st, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $47.30, for a total value of $94,600.00.
• On Friday, May 22nd, Todd Krasnow sold 19,655 shares of Symbotic stock. The stock was sold at an average price of $53.73, for a total value of $1,056,063.15.
• On Friday, May 22nd, Todd Krasnow sold 6,978 shares of Symbotic stock. The stock was sold at an average price of $52.12, for a total value of $363,693.36.
• On Monday, May 11th, Todd Krasnow sold 25,422 shares of Symbotic stock. The shares were sold at an average price of $52.45, for a total transaction of $1,333,383.90.
• On Monday, May 4th, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $57.61, for a total transaction of $115,220.00.

Symbotic Stock Up 3.5%

SYM stock opened at $43.15 on Friday. The firm has a 50 day moving average of $46.84 and a 200 day moving average of $53.81. The stock has a market capitalization of $26.01 billion, a PE ratio of -862.83, a price-to-earnings-growth ratio of 6.15 and a beta of 1.93. Symbotic Inc. has a 52 week low of $38.19 and a 52 week high of $87.88.

Symbotic (NASDAQ:SYM) last released its earnings results on Wednesday, May 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.11). The company had revenue of $676.48 million for the quarter, compared to analysts’ expectations of $662.65 million. Symbotic had a negative return on equity of 0.68% and a negative net margin of 0.20%.The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.04) EPS. On average, equities research analysts expect that Symbotic Inc. will post 0.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SYM has been the topic of several research analyst reports. Weiss Ratings downgraded Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Zacks Research downgraded Symbotic from a “hold” rating to a “strong sell” rating in a report on Tuesday. DA Davidson reiterated a “buy” rating and issued a $70.00 target price on shares of Symbotic in a research report on Monday, May 11th. Barclays upped their target price on Symbotic from $42.00 to $44.00 and gave the company an “underweight” rating in a research report on Monday, March 16th. Finally, The Goldman Sachs Group reduced their price target on shares of Symbotic from $54.00 to $45.00 and set a “sell” rating for the company in a research report on Tuesday, May 26th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $65.23.

Institutional Trading of Symbotic

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Symbotic by 47.6% during the fourth quarter. Vanguard Group Inc. now owns 6,932,158 shares of the company’s stock valued at $412,463,000 after acquiring an additional 2,237,137 shares in the last quarter. Morgan Stanley boosted its position in Symbotic by 85.4% in the 4th quarter. Morgan Stanley now owns 2,530,874 shares of the company’s stock worth $150,587,000 after purchasing an additional 1,165,513 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Symbotic by 51,346.1% in the 4th quarter. JPMorgan Chase & Co. now owns 2,174,372 shares of the company’s stock worth $129,375,000 after purchasing an additional 2,178,615 shares in the last quarter. UBS Group AG grew its stake in shares of Symbotic by 22.3% during the 3rd quarter. UBS Group AG now owns 1,105,770 shares of the company’s stock worth $59,601,000 after purchasing an additional 201,547 shares during the period. Finally, Ghisallo Capital Management LLC acquired a new stake in shares of Symbotic during the 4th quarter worth approximately $63,034,000.

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.