Symbotic (NASDAQ:SYM) Director Sells $87,140.00 in Stock

Symbotic Inc. (NASDAQ:SYM – Get Free Report) 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 value of $87,140.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

Get Symbotic alerts:

• On Monday, August 3rd, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $45.27, for a total value of $90,540.00.
• 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.

Symbotic Trading Down 3.6%

Shares of Symbotic stock traded down $1.52 on Thursday, reaching $41.10. 1,171,345 shares of the company were exchanged, compared to its average volume of 1,477,976. The company has a market capitalization of $24.86 billion, a price-to-earnings ratio of 473.56, a PEG ratio of 6.77 and a beta of 1.94. Symbotic Inc. has a one year low of $37.68 and a one year high of $87.88. The company has a 50-day moving average of $41.91 and a 200 day moving average of $47.78.

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

Institutional Trading of Symbotic

A number of institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System raised its stake in Symbotic by 5,964.6% in the second quarter. California State Teachers Retirement System now owns 3,388,331 shares of the company’s stock valued at $152,305,000 after purchasing an additional 3,332,460 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Symbotic by 51,346.1% during the 4th quarter. JPMorgan Chase & Co. now owns 2,174,372 shares of the company’s stock worth $129,375,000 after acquiring an additional 2,178,615 shares during the period. Morgan Stanley lifted its holdings in shares of Symbotic by 85.4% during the 4th quarter. Morgan Stanley now owns 2,530,874 shares of the company’s stock worth $150,587,000 after acquiring an additional 1,165,513 shares during the period. Ghisallo Capital Management LLC acquired a new stake in shares of Symbotic during the 4th quarter worth approximately $63,034,000. Finally, Marshall Wace LLP bought a new position in Symbotic in the fourth quarter valued at approximately $33,997,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. The Goldman Sachs Group reduced their target price on Symbotic from $54.00 to $45.00 and set a “sell” rating for the company in a research note on Tuesday, May 26th. Needham & Company LLC reiterated a “buy” rating and issued a $75.00 price target on shares of Symbotic in a research note on Thursday, August 6th. Zacks Research upgraded shares of Symbotic from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th. Weiss Ratings cut Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, September 4th. Finally, Barclays lowered their target price on Symbotic from $44.00 to $38.00 and set an “underweight” rating on the stock in a research note on Tuesday. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Symbotic presently has an average rating of “Hold” and an average price target of $65.42.

Check Out Our Latest Research Report on Symbotic

Symbotic Company Profile

(Get Free Report)

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.

Featured Stories

• Five stocks we like better than Symbotic
• AeroVironment’s Record Backlog and Earnings Beat Fuel Recovery Case
• Corning Just Locked In a Massive Verizon Fiber Deal as AI Infrastructure Expands
• 3 Under-$20 Stocks Tied to the Future of U.S. Energy and Materials
• Uncle Sam’s Quantum Leap: Feds Fund a $300M Quantum Supercycle

Receive News & Ratings for Symbotic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Symbotic and related companies with MarketBeat.com's FREE daily email newsletter.