Insider Selling: Symbotic (NASDAQ:SYM) Director Sells $76,920.00 in Stock

Symbotic Inc. (NASDAQ:SYM – Get Free Report) Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $38.46, for a total transaction of $76,920.00. The transaction 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, October 5th, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $42.72, for a total value of $85,440.00.
  • On Tuesday, September 8th, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $43.57, for a total transaction of $87,140.00.

Symbotic Price Performance

NASDAQ SYM opened at $36.82 on Friday. The company’s fifty day moving average is $40.92 and its two-hundred day moving average is $47.44. The firm has a market capitalization of $22.27 billion, a price-to-earnings ratio of 413.67, a P/E/G ratio of 3.52 and a beta of 2.06. Symbotic Inc. has a 52-week low of $33.17 and a 52-week high of $87.88.

Symbotic (NASDAQ:SYM – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The company had revenue of $720.84 million for the quarter, compared to analyst estimates of $715.03 million. Symbotic had a return on equity of 1.40% and a net margin of 0.48%. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.05) EPS. As a group, sell-side analysts expect that Symbotic Inc. will post 0.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SYM shares. Zacks Research upgraded Symbotic from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th. Barclays cut their price objective on Symbotic from $44.00 to $38.00 and set an “underweight” rating on the stock in a report on Tuesday, September 8th. Needham & Company LLC decreased their price target on Symbotic from C$75.00 to C$60.00 and set a “buy” rating on the stock in a research report on Tuesday, September 15th. TD Cowen dropped their price target on Symbotic from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. Finally, Weiss Ratings raised shares of Symbotic from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, September 21st. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Symbotic has an average rating of “Hold” and an average price target of $65.83.

Check Out Our Latest Analysis on SYM

Hedge Funds Weigh In On Symbotic

Institutional investors have recently modified their holdings of the company. Sei Investments Co. grew its holdings in Symbotic by 21.0% in the 1st quarter. Sei Investments Co. now owns 144,420 shares of the company’s stock valued at $7,683,000 after buying an additional 25,024 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Symbotic by 26.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 109,015 shares of the company’s stock worth $5,789,000 after acquiring an additional 22,895 shares in the last quarter. Amundi raised its holdings in shares of Symbotic by 68.5% in the first quarter. Amundi now owns 108,553 shares of the company’s stock valued at $5,775,000 after purchasing an additional 44,132 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Symbotic by 41.1% during the 1st quarter. Royal Bank of Canada now owns 100,018 shares of the company’s stock valued at $5,321,000 after purchasing an additional 29,152 shares during the period. Finally, Wealthfront Advisers LLC boosted its position in Symbotic by 168.1% during the first quarter. Wealthfront Advisers LLC now owns 71,248 shares of the company’s stock valued at $3,790,000 after buying an additional 44,676 shares during the period.

About Symbotic

(Get Free Report)

Symbotic Inc is an automation technology company that develops artificial intelligence-enabled robotics and software for supply chain and warehouse operations. Its systems are designed to automate the movement, storage, retrieval and replenishment of pallets and cases within large distribution centers, helping customers manage inventory and fulfill orders more efficiently.

The company’s platform combines mobile robots, automated storage and retrieval systems, robotic palletizing and depalletizing equipment, and warehouse-control software.

Further Reading

Insider Buying and Selling by Quarter for Symbotic (NASDAQ:SYM)

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