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

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $38.46, for a total transaction of $76,920.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Monday, October 5th, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $42.72, for a total transaction of $85,440.00.
• On Tuesday, September 8th, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $43.57, for a total transaction of $87,140.00.

Symbotic Stock Down 0.0%

NASDAQ SYM traded down $0.01 on Wednesday, hitting $37.51. The company’s stock had a trading volume of 1,521,927 shares, compared to its average volume of 1,807,019. The company’s 50-day moving average is $41.18 and its 200 day moving average is $47.88. The firm has a market cap of $22.69 billion, a PE ratio of 416.78, a PEG ratio of 3.52 and a beta of 2.06. Symbotic Inc. has a 1-year low of $36.02 and a 1-year high of $87.88.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 1.40% and a net margin of 0.48%. Symbotic’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.05) EPS. On average, equities analysts expect that Symbotic Inc. will post 0.21 EPS for the current year.

Institutional Investors Weigh In On Symbotic

Several hedge funds and other institutional investors have recently modified their holdings of SYM. Fulcrum Asset Management LLP purchased a new position in shares of Symbotic during the third quarter worth about $145,000. 180 Wealth Advisors LLC increased its stake in shares of Symbotic by 2.7% in the third quarter. 180 Wealth Advisors LLC now owns 63,385 shares of the company’s stock worth $2,667,000 after buying an additional 1,668 shares during the period. Verus Capital Partners LLC bought a new position in shares of Symbotic during the third quarter valued at about $244,000. AlphaCentric Advisors LLC lifted its holdings in Symbotic by 16.7% in the 3rd quarter. AlphaCentric Advisors LLC now owns 17,500 shares of the company’s stock worth $736,000 after buying an additional 2,500 shares during the period. Finally, Alps Advisors Inc. bought a new stake in Symbotic in the third quarter valued at $728,000.

Analyst Upgrades and Downgrades

SYM has been the topic of a number of recent analyst reports. Barclays cut their price objective on Symbotic from $44.00 to $38.00 and set an “underweight” rating on the stock in a research note on Tuesday, September 8th. Needham & Company LLC dropped their price target on shares of Symbotic from C$75.00 to C$60.00 and set a “buy” rating on the stock in a research report on Tuesday, September 15th. Robert W. Baird set a $51.00 price objective on shares of Symbotic in a research note on Thursday, August 6th. Weiss Ratings upgraded Symbotic from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, September 21st. Finally, Zacks Research upgraded shares of Symbotic from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $65.83.

About Symbotic

Symbotic Inc is an automation technology company that develops artificial intelligence-enabled robotics and software for supply chain and warehouse operations. Its systems are designed to automate the movement, storage, retrieval and replenishment of pallets and cases within large distribution centers, helping customers manage inventory and fulfill orders more efficiently.

The company’s platform combines mobile robots, automated storage and retrieval systems, robotic palletizing and depalletizing equipment, and warehouse-control software.