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

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $23.96, for a total transaction of $47,920.00. Following the completion of the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at $47,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, September 3rd, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $18.75, for a total transaction of $37,500.00.
• On Monday, August 5th, Todd Krasnow sold 17,000 shares of Symbotic stock. The shares were sold at an average price of $21.46, for a total value of $364,820.00.

Symbotic Stock Performance

Symbotic stock traded down $1.12 during mid-day trading on Thursday, reaching $23.06. 1,415,383 shares of the company were exchanged, compared to its average volume of 1,599,866. Symbotic Inc. has a 12-month low of $17.11 and a 12-month high of $59.82. The business has a fifty day moving average of $23.22 and a 200 day moving average of $34.47. The firm has a market cap of $13.50 billion, a P/E ratio of -99.62 and a beta of 1.81.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, July 29th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The company had revenue of $491.86 million for the quarter, compared to the consensus estimate of $464.56 million. Symbotic had a negative net margin of 1.03% and a positive return on equity of 4.08%. Symbotic’s revenue for the quarter was up 57.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.07) EPS. Sell-side analysts predict that Symbotic Inc. will post -0.08 EPS for the current year.

Institutional Trading of Symbotic

A number of institutional investors have recently made changes to their positions in the business. RiverPark Advisors LLC purchased a new position in shares of Symbotic in the first quarter worth $37,000. RFP Financial Group LLC raised its stake in Symbotic by 22.4% in the 2nd quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock worth $59,000 after acquiring an additional 310 shares during the last quarter. Quarry LP purchased a new stake in Symbotic during the 2nd quarter valued at about $65,000. Natixis Investment Managers International purchased a new stake in Symbotic during the 1st quarter valued at about $90,000. Finally, Van ECK Associates Corp increased its holdings in shares of Symbotic by 109.5% in the second quarter. Van ECK Associates Corp now owns 2,723 shares of the company’s stock valued at $96,000 after purchasing an additional 1,423 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Robert W. Baird decreased their price objective on shares of Symbotic from $53.00 to $41.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Citigroup decreased their target price on shares of Symbotic from $62.00 to $49.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. TD Cowen dropped their price target on Symbotic from $55.00 to $43.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their price objective on Symbotic from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Northland Securities cut their price target on Symbotic from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Symbotic currently has an average rating of “Moderate Buy” and a consensus target price of $43.23.

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.