Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow Sells 2,000 Shares

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $27.32, for a total transaction of $54,640.00. Following the sale, the director now owns 194,036 shares of the company’s stock, valued at $5,301,063.52. This trade represents a 1.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, February 10th, Todd Krasnow sold 10,447 shares of Symbotic stock. The shares were sold at an average price of $27.05, for a total transaction of $282,591.35.
• On Thursday, January 2nd, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $24.04, for a total transaction of $48,080.00.

Symbotic Stock Down 2.5 %

Symbotic stock traded down $0.67 during midday trading on Thursday, hitting $26.09. 1,595,050 shares of the stock were exchanged, compared to its average volume of 2,459,072. The company has a fifty day simple moving average of $27.27 and a two-hundred day simple moving average of $26.44. Symbotic Inc. has a 52 week low of $17.11 and a 52 week high of $50.40. The stock has a market capitalization of $15.35 billion, a PE ratio of -372.66, a P/E/G ratio of 6.90 and a beta of 1.79.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. As a group, equities research analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SYM. Geode Capital Management LLC lifted its stake in Symbotic by 10.2% in the third quarter. Geode Capital Management LLC now owns 503,758 shares of the company’s stock valued at $12,290,000 after buying an additional 46,721 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Symbotic in the third quarter valued at approximately $1,029,000. Capital Market Strategies LLC acquired a new stake in shares of Symbotic in the fourth quarter valued at approximately $802,000. Baillie Gifford & Co. raised its holdings in shares of Symbotic by 32.0% in the third quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock valued at $343,192,000 after purchasing an additional 3,410,050 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Symbotic by 10.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 219,074 shares of the company’s stock valued at $5,343,000 after purchasing an additional 20,469 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SYM. William Blair restated a “market perform” rating on shares of Symbotic in a research report on Thursday, December 5th. DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Wednesday, January 8th. TD Cowen lifted their price target on shares of Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Craig Hallum cut shares of Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a research report on Wednesday, November 27th. Finally, BWS Financial reiterated a “sell” rating and set a $10.00 price target on shares of Symbotic in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $38.33.

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.