Symbotic Inc. (NASDAQ:SYM) Director Sells $70,980.00 in Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $35.49, for a total value of $70,980.00. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at $70,980. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Monday, June 3rd, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $39.79, for a total value of $79,580.00.
• On Tuesday, May 28th, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $40.92, for a total value of $81,840.00.
• On Friday, April 5th, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $42.20, for a total value of $84,400.00.

Symbotic Stock Down 2.3 %

Shares of NASDAQ:SYM traded down $0.85 during midday trading on Wednesday, reaching $35.34. The company had a trading volume of 544,476 shares, compared to its average volume of 1,378,218. The business’s 50 day moving average price is $39.38 and its 200 day moving average price is $42.89. The stock has a market cap of $20.66 billion, a PE ratio of -147.42 and a beta of 1.87. Symbotic Inc. has a 1-year low of $29.62 and a 1-year high of $64.14.

Symbotic (NASDAQ:SYM) last released its earnings results on Monday, May 6th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.25. The business had revenue of $424.30 million for the quarter, compared to the consensus estimate of $415.98 million. Symbotic had a positive return on equity of 5.27% and a negative net margin of 1.27%. On average, research analysts expect that Symbotic Inc. will post -0.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Symbotic

Hedge funds and other institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp bought a new stake in shares of Symbotic during the fourth quarter worth approximately $26,000. RiverPark Advisors LLC bought a new stake in shares of Symbotic during the first quarter worth approximately $37,000. Pingora Partners LLC bought a new stake in shares of Symbotic during the fourth quarter worth approximately $51,000. Global Retirement Partners LLC boosted its holdings in shares of Symbotic by 166.7% during the first quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock worth $48,000 after acquiring an additional 660 shares during the period. Finally, Centerpoint Advisors LLC bought a new stake in shares of Symbotic during the fourth quarter worth approximately $62,000.

Analysts Set New Price Targets

Several research firms have recently issued reports on SYM. Robert W. Baird raised their price target on Symbotic from $52.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft raised their price target on Symbotic from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Craig Hallum raised their price target on Symbotic from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Needham & Company LLC restated a “buy” rating and issued a $54.00 price target on shares of Symbotic in a research report on Tuesday, May 7th. Finally, Northland Securities raised their price objective on Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.00.

Symbotic Company Profile

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.