Todd Krasnow Sells 2,000 Shares of Symbotic (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $43.92, for a total value of $87,840.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, May 21st, Todd Krasnow sold 3,367 shares of Symbotic stock. The shares were sold at an average price of $51.00, for a total value of $171,717.00.
• On Monday, June 1st, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $47.30, for a total value of $94,600.00.
• On Friday, May 22nd, Todd Krasnow sold 19,655 shares of Symbotic stock. The stock was sold at an average price of $53.73, for a total transaction of $1,056,063.15.
• On Friday, May 22nd, Todd Krasnow sold 6,978 shares of Symbotic stock. The shares were sold at an average price of $52.12, for a total transaction of $363,693.36.
• On Monday, May 11th, Todd Krasnow sold 25,422 shares of Symbotic stock. The shares were sold at an average price of $52.45, for a total transaction of $1,333,383.90.
• On Monday, May 4th, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $57.61, for a total transaction of $115,220.00.

Symbotic Price Performance

Shares of SYM opened at $43.15 on Friday. The firm’s 50 day moving average is $46.84 and its 200-day moving average is $53.81. The stock has a market capitalization of $26.01 billion, a P/E ratio of -862.83, a P/E/G ratio of 6.15 and a beta of 1.93. Symbotic Inc. has a 12-month low of $38.19 and a 12-month high of $87.88.

Symbotic (NASDAQ:SYM) last released its earnings results on Wednesday, May 6th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.11). The business had revenue of $676.48 million for the quarter, compared to analyst estimates of $662.65 million. Symbotic had a negative net margin of 0.20% and a negative return on equity of 0.68%. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.04) earnings per share. As a group, equities research analysts forecast that Symbotic Inc. will post 0.23 EPS for the current fiscal year.

Institutional Trading of Symbotic

Several hedge funds and other institutional investors have recently modified their holdings of SYM. Parkside Financial Bank & Trust grew its holdings in shares of Symbotic by 100.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock valued at $32,000 after buying an additional 268 shares in the last quarter. Quarry LP purchased a new stake in Symbotic in the 4th quarter worth about $36,000. Parallel Advisors LLC boosted its position in Symbotic by 67.3% during the 4th quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock worth $37,000 after acquiring an additional 249 shares during the period. Ameriflex Group Inc. boosted its position in Symbotic by 1,500.0% during the 3rd quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock worth $38,000 after acquiring an additional 660 shares during the period. Finally, Strategic Advocates LLC purchased a new position in Symbotic during the 3rd quarter valued at about $42,000.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SYM. DA Davidson reissued a “buy” rating and set a $70.00 price objective on shares of Symbotic in a research note on Monday, May 11th. The Goldman Sachs Group cut their target price on Symbotic from $54.00 to $45.00 and set a “sell” rating on the stock in a research report on Tuesday, May 26th. Weiss Ratings lowered Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Barclays lifted their price target on Symbotic from $42.00 to $44.00 and gave the stock an “underweight” rating in a research note on Monday, March 16th. Finally, Zacks Research downgraded Symbotic from a “hold” rating to a “strong sell” rating in a report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, Symbotic has a consensus rating of “Hold” and an average price target of $65.23.

About Symbotic

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.