Todd Krasnow Sells 10,447 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 10,447 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $27.05, for a total value of $282,591.35. Following the transaction, the director now owns 194,036 shares of the company’s stock, valued at $5,248,673.80. This represents a 5.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, January 2nd, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $24.04, for a total value of $48,080.00.

Symbotic Trading Down 2.4 %

Shares of SYM opened at $27.06 on Friday. Symbotic Inc. has a 1 year low of $17.11 and a 1 year high of $50.40. The stock has a market cap of $15.90 billion, a P/E ratio of -386.52, a price-to-earnings-growth ratio of 6.45 and a beta of 1.79. The stock’s 50-day moving average price is $27.31 and its two-hundred day moving average price is $26.46.

Symbotic (NASDAQ:SYM) last issued its earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. As a group, equities analysts forecast that Symbotic Inc. will post 0.13 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $60.00 price objective on shares of Symbotic in a research note on Thursday, February 6th. The Goldman Sachs Group decreased their target price on Symbotic from $28.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. UBS Group decreased their target price on Symbotic from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. TD Cowen increased their target price on Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Northland Securities increased their target price on Symbotic from $35.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $38.33.

Hedge Funds Weigh In On Symbotic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Castleview Partners LLC boosted its holdings in Symbotic by 50.0% during the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after buying an additional 500 shares during the last quarter. IFP Advisors Inc raised its position in shares of Symbotic by 58.2% during the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock worth $32,000 after purchasing an additional 503 shares during the period. Commonwealth Equity Services LLC raised its position in shares of Symbotic by 1.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 48,672 shares of the company’s stock worth $1,154,000 after purchasing an additional 619 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Symbotic by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 8,655 shares of the company’s stock worth $304,000 after purchasing an additional 679 shares during the period. Finally, Van ECK Associates Corp raised its position in shares of Symbotic by 28.4% during the third quarter. Van ECK Associates Corp now owns 3,497 shares of the company’s stock worth $85,000 after purchasing an additional 774 shares during the period.

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.