Symbotic (NASDAQ:SYM) Director Sells $95,400.00 in Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $47.70, for a total value of $95,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, February 2nd, Todd Krasnow sold 4,000 shares of Symbotic stock. The stock was sold at an average price of $53.73, for a total value of $214,920.00.
• On Monday, January 5th, Todd Krasnow sold 4,000 shares of Symbotic stock. The stock was sold at an average price of $68.63, for a total value of $274,520.00.

Symbotic Stock Performance

SYM stock traded up $1.13 during mid-day trading on Wednesday, reaching $51.01. The company had a trading volume of 895,340 shares, compared to its average volume of 1,379,527. Symbotic Inc. has a one year low of $16.32 and a one year high of $87.88. The stock’s 50-day simple moving average is $59.17 and its two-hundred day simple moving average is $60.72.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Wednesday, February 4th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.06). The firm had revenue of $629.99 million during the quarter, compared to analyst estimates of $622.58 million. Symbotic had a negative return on equity of 1.88% and a negative net margin of 0.45%.The firm’s revenue was up 29.4% on a year-over-year basis. During the same period last year, the business earned ($0.03) EPS. On average, research analysts predict that Symbotic Inc. will post 0.13 EPS for the current year.

Hedge Funds Weigh In On Symbotic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barton Investment Management bought a new stake in shares of Symbotic in the 3rd quarter worth $1,640,000. Grove Street Fiduciary LLC grew its holdings in Symbotic by 314.4% during the third quarter. Grove Street Fiduciary LLC now owns 35,000 shares of the company’s stock worth $1,886,000 after acquiring an additional 26,555 shares during the period. Mutual Advisors LLC acquired a new position in Symbotic during the third quarter worth about $1,919,000. Prospera Financial Services Inc bought a new stake in Symbotic in the second quarter worth about $861,000. Finally, ARK Investment Management LLC lifted its holdings in Symbotic by 32.4% in the 3rd quarter. ARK Investment Management LLC now owns 589,887 shares of the company’s stock valued at $31,795,000 after acquiring an additional 144,389 shares during the last quarter.

Analysts Set New Price Targets

Several analysts recently commented on the company. Citigroup restated an “outperform” rating on shares of Symbotic in a research report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft boosted their price target on Symbotic from $55.00 to $63.00 and gave the stock a “hold” rating in a research report on Tuesday, November 25th. Northcoast Research lowered Symbotic from a “buy” rating to a “neutral” rating in a report on Tuesday, November 25th. Wall Street Zen cut shares of Symbotic from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Zacks Research upgraded shares of Symbotic from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $60.57.

Symbotic Company Profile

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.