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

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $42.72, for a total value of $85,440.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, September 8th, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $43.57, for a total transaction of $87,140.00.
• On Monday, August 3rd, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $45.27, for a total transaction of $90,540.00.

Symbotic Price Performance

Shares of SYM traded down $0.84 during mid-day trading on Wednesday, hitting $43.31. The company’s stock had a trading volume of 1,339,882 shares, compared to its average volume of 1,630,617. The firm has a 50-day moving average price of $42.28 and a 200 day moving average price of $46.52. Symbotic Inc. has a fifty-two week low of $37.68 and a fifty-two week high of $87.88. The stock has a market capitalization of $26.19 billion, a price-to-earnings ratio of 481.22, a PEG ratio of 4.91 and a beta of 1.97.

Symbotic (NASDAQ:SYM) last released its earnings results on Wednesday, August 5th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). The business had revenue of $720.84 million for the quarter, compared to analyst estimates of $715.03 million. Symbotic had a net margin of 0.48% and a return on equity of 1.40%. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.05) earnings per share. As a group, equities analysts anticipate that Symbotic Inc. will post 0.21 EPS for the current fiscal year.

Institutional Trading of Symbotic

A number of hedge funds have recently modified their holdings of SYM. USS Investment Management Ltd acquired a new stake in shares of Symbotic in the first quarter worth $15,004,000. Sei Investments Co. raised its position in Symbotic by 21.0% during the first quarter. Sei Investments Co. now owns 144,420 shares of the company’s stock valued at $7,683,000 after buying an additional 25,024 shares during the period. Dimensional Fund Advisors LP lifted its stake in Symbotic by 26.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 109,015 shares of the company’s stock worth $5,789,000 after acquiring an additional 22,895 shares in the last quarter. Amundi lifted its stake in Symbotic by 68.5% in the 1st quarter. Amundi now owns 108,553 shares of the company’s stock worth $5,775,000 after acquiring an additional 44,132 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in Symbotic by 41.1% during the 1st quarter. Royal Bank of Canada now owns 100,018 shares of the company’s stock worth $5,321,000 after acquiring an additional 29,152 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SYM shares. Zacks Research raised Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Weiss Ratings raised Symbotic from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, September 21st. Needham & Company LLC decreased their price target on Symbotic from C$75.00 to C$60.00 and set a “buy” rating for the company in a research report on Tuesday, September 15th. Barclays cut their price objective on Symbotic from $44.00 to $38.00 and set an “underweight” rating on the stock in a report on Tuesday, September 8th. Finally, Robert W. Baird set a $51.00 price objective on shares of Symbotic in a research note on Thursday, August 6th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $65.45.

Symbotic Company Profile

Symbotic Inc is a technology company that develops automation systems for warehouse and supply-chain operations. Its platform combines artificial intelligence, robotics, software and high-speed material-handling equipment to automate the movement, storage and retrieval of goods within large distribution centers.

The company’s solutions are designed to manage products from inbound receiving and pallet depalletizing through storage, replenishment, order assembly and outbound shipping. Symbotic’s systems use autonomous robots and software to organize inventory and build store-ready orders, helping retailers and other supply-chain operators improve warehouse utilization, throughput and operational consistency.

Symbotic primarily serves large retail and grocery distribution networks, with deployments concentrated in North America.