Symbotic Inc. (NASDAQ:SYM) Director Sells $37,500.00 in Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.75, for a total value of $37,500.00. Following the completion of the sale, the director now owns 214,036 shares of the company’s stock, valued at $4,013,175. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 transaction of $364,820.00.
• On Tuesday, July 2nd, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $35.49, for a total transaction of $70,980.00.

Symbotic Price Performance

NASDAQ:SYM opened at $17.99 on Friday. Symbotic Inc. has a 1-year low of $17.11 and a 1-year high of $59.82. The company has a 50-day moving average of $28.54 and a 200 day moving average of $36.89. The firm has a market cap of $10.53 billion, a PE ratio of -74.96 and a beta of 1.81.

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

Institutional Trading of Symbotic

Several hedge funds and other institutional investors have recently bought and sold shares of SYM. Van ECK Associates Corp purchased a new stake in shares of Symbotic during the 4th quarter worth $26,000. RiverPark Advisors LLC purchased a new position in Symbotic in the first quarter valued at about $37,000. Global Retirement Partners LLC raised its holdings in Symbotic by 166.7% in the first quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock worth $48,000 after purchasing an additional 660 shares in the last quarter. Pingora Partners LLC purchased a new stake in shares of Symbotic during the fourth quarter valued at about $51,000. Finally, RFP Financial Group LLC boosted its holdings in shares of Symbotic by 22.4% in the 2nd quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock valued at $59,000 after buying an additional 310 shares in the last quarter.

Wall Street Analysts Forecast Growth

SYM has been the subject of several analyst reports. TD Cowen decreased their price objective on shares of Symbotic from $55.00 to $43.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Needham & Company LLC decreased their price target on Symbotic from $54.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. BWS Financial reaffirmed a “sell” rating and issued a $10.00 price objective on shares of Symbotic in a research report on Tuesday, July 30th. Northland Securities decreased their target price on Symbotic from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. Finally, Craig Hallum lowered their target price on shares of Symbotic from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.23.

About Symbotic

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.