Symbotic Inc. (NASDAQ:SYM) Director Sells $118,600.00 in Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 4,000 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $29.65, for a total value of $118,600.00. Following the transaction, the director now owns 189,036 shares in the company, valued at $5,604,917.40. This trade represents a 2.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, May 27th, Todd Krasnow sold 4,000 shares of Symbotic stock. The shares were sold at an average price of $30.63, for a total transaction of $122,520.00.
• On Tuesday, May 13th, Todd Krasnow sold 5,940 shares of Symbotic stock. The stock was sold at an average price of $26.38, for a total transaction of $156,697.20.
• On Tuesday, May 13th, Todd Krasnow sold 4,060 shares of Symbotic stock. The stock was sold at an average price of $26.40, for a total transaction of $107,184.00.
• On Friday, April 4th, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $17.51, for a total transaction of $35,020.00.

Symbotic Stock Performance

NASDAQ:SYM opened at $27.97 on Monday. The business’s 50-day simple moving average is $25.01 and its 200 day simple moving average is $25.15. Symbotic Inc. has a one year low of $16.32 and a one year high of $41.76. The stock has a market cap of $16.49 billion, a price-to-earnings ratio of -399.51, a price-to-earnings-growth ratio of 6.48 and a beta of 1.95.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.09). Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. The company had revenue of $549.65 million for the quarter, compared to the consensus estimate of $522.36 million. During the same quarter last year, the company earned ($0.07) earnings per share. The company’s revenue was up 39.7% compared to the same quarter last year. On average, equities research analysts predict that Symbotic Inc. will post 0.13 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Citigroup cut their target price on Symbotic from $37.00 to $29.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. UBS Group cut their price objective on Symbotic from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. BWS Financial reaffirmed a “sell” rating and issued a $10.00 price objective on shares of Symbotic in a research note on Wednesday, April 2nd. Finally, The Goldman Sachs Group reduced their price target on shares of Symbotic from $25.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $37.20.

Institutional Investors Weigh In On Symbotic

Institutional investors have recently made changes to their positions in the company. Alberta Investment Management Corp acquired a new position in shares of Symbotic in the 4th quarter valued at about $586,000. Vanguard Group Inc. increased its stake in shares of Symbotic by 41.3% during the fourth quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company’s stock valued at $117,846,000 after acquiring an additional 1,452,627 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Symbotic during the 4th quarter valued at $20,754,000. Cetera Investment Advisers raised its position in Symbotic by 5.7% in the fourth quarter. Cetera Investment Advisers now owns 24,621 shares of the company’s stock worth $584,000 after acquiring an additional 1,332 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Symbotic by 23.7% in the 4th quarter. Northern Trust Corp now owns 110,148 shares of the company’s stock worth $2,612,000 after purchasing an additional 21,077 shares in the last quarter.

About Symbotic

Symbotic Inc, an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. The company automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Its systems enhance operations at the front end of the supply chain.