Symbotic Inc. (NASDAQ:SYM) Director Sells $70,980.00 in Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $35.49, for a total transaction of $70,980.00. Following the completion of the transaction, the director now directly owns 2,000 shares in the company, valued at $70,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, June 3rd, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $39.79, for a total transaction of $79,580.00.
• On Tuesday, May 28th, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $40.92, for a total value of $81,840.00.
• On Friday, April 5th, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $42.20, for a total value of $84,400.00.

Symbotic Trading Down 2.3 %

SYM opened at $35.34 on Friday. The stock has a 50-day moving average of $39.19 and a 200-day moving average of $42.79. Symbotic Inc. has a 52-week low of $29.62 and a 52-week high of $64.14.

Symbotic (NASDAQ:SYM) last announced its earnings results on Monday, May 6th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.25. Symbotic had a positive return on equity of 5.27% and a negative net margin of 1.27%. The firm had revenue of $424.30 million during the quarter, compared to analysts’ expectations of $415.98 million. As a group, equities research analysts forecast that Symbotic Inc. will post -0.07 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Baillie Gifford & Co. bought a new position in Symbotic in the 1st quarter worth approximately $426,752,000. 1832 Asset Management L.P. increased its position in Symbotic by 189.5% during the fourth quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company’s stock worth $54,174,000 after acquiring an additional 690,900 shares during the period. Vanguard Group Inc. raised its stake in Symbotic by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock valued at $109,189,000 after purchasing an additional 345,386 shares during the last quarter. Zevenbergen Capital Investments LLC boosted its holdings in Symbotic by 1,826.2% in the 1st quarter. Zevenbergen Capital Investments LLC now owns 361,167 shares of the company’s stock valued at $16,253,000 after purchasing an additional 342,417 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Symbotic in the 1st quarter worth $12,219,000.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Symbotic from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 price objective on shares of Symbotic in a research report on Tuesday, May 7th. Craig Hallum increased their target price on shares of Symbotic from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Northland Securities boosted their price target on shares of Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Finally, Robert W. Baird increased their price objective on Symbotic from $52.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $57.00.

Symbotic Company Profile

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.