Symbotic Inc. (NASDAQ:SYM) Director Sells 2,000 Shares

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $24.04, for a total value of $48,080.00. Following the sale, the director now owns 214,036 shares of the company’s stock, valued at approximately $5,145,425.44. This represents a 0.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, November 4th, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $28.15, for a total transaction of $56,300.00.

Symbotic Price Performance

Shares of SYM traded up $1.06 during midday trading on Monday, hitting $26.70. 2,371,506 shares of the company traded hands, compared to its average volume of 1,611,011. The stock has a 50-day moving average of $28.58 and a 200-day moving average of $27.94. Symbotic Inc. has a one year low of $17.11 and a one year high of $52.20. The firm has a market cap of $15.68 billion, a P/E ratio of -445.00 and a beta of 1.73.

Symbotic (NASDAQ:SYM) last posted its earnings results on Monday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. The business had revenue of $576.77 million for the quarter, compared to analysts’ expectations of $470.24 million. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. The business’s revenue for the quarter was up 47.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.08) EPS. Sell-side analysts forecast that Symbotic Inc. will post 0.12 EPS for the current fiscal year.

Analyst Ratings Changes

SYM has been the topic of a number of analyst reports. KeyCorp reaffirmed a “sector weight” rating on shares of Symbotic in a report on Wednesday, November 27th. Craig Hallum lowered shares of Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a research note on Wednesday, November 27th. Needham & Company LLC dropped their price objective on Symbotic from $46.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. DA Davidson downgraded Symbotic from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $50.00 to $35.00 in a research report on Wednesday, November 27th. Finally, TD Cowen increased their price target on Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $41.79.

Institutional Investors Weigh In On Symbotic

Several large investors have recently added to or reduced their stakes in SYM. Castleview Partners LLC raised its holdings in shares of Symbotic by 50.0% in the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after acquiring an additional 500 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Symbotic by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 8,655 shares of the company’s stock valued at $304,000 after purchasing an additional 679 shares in the last quarter. Van ECK Associates Corp lifted its position in Symbotic by 28.4% during the third quarter. Van ECK Associates Corp now owns 3,497 shares of the company’s stock valued at $85,000 after purchasing an additional 774 shares during the last quarter. National Bank of Canada FI grew its stake in Symbotic by 36.8% in the 3rd quarter. National Bank of Canada FI now owns 3,557 shares of the company’s stock worth $87,000 after buying an additional 957 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Symbotic by 21.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,309 shares of the company’s stock worth $222,000 after buying an additional 1,130 shares during the last quarter.

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.