Symbotic Inc. (NASDAQ:SYM) Director Sells $54,640.00 in Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $27.32, for a total transaction of $54,640.00. Following the sale, the director now directly owns 194,036 shares of the company’s stock, valued at $5,301,063.52. This represents a 1.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Monday, February 10th, Todd Krasnow sold 10,447 shares of Symbotic stock. The shares were sold at an average price of $27.05, for a total transaction of $282,591.35.
• On Thursday, January 2nd, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $24.04, for a total transaction of $48,080.00.

Symbotic Trading Down 2.5 %

Shares of SYM traded down $0.67 during trading hours on Thursday, reaching $26.09. The stock had a trading volume of 1,595,050 shares, compared to its average volume of 2,459,072. Symbotic Inc. has a 12 month low of $17.11 and a 12 month high of $50.40. The firm has a 50-day simple moving average of $27.27 and a 200 day simple moving average of $26.44. The company has a market capitalization of $15.35 billion, a price-to-earnings ratio of -372.66, a P/E/G ratio of 6.90 and a beta of 1.79.

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%. On average, equities analysts forecast that Symbotic Inc. will post 0.13 EPS for the current year.

Hedge Funds Weigh In On Symbotic

A number of large investors have recently modified their holdings of the company. IFP Advisors Inc lifted its holdings in shares of Symbotic by 58.2% in the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock worth $32,000 after purchasing an additional 503 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Symbotic by 1.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 48,672 shares of the company’s stock valued at $1,154,000 after acquiring an additional 619 shares in the last quarter. Van ECK Associates Corp lifted its stake in Symbotic by 28.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,497 shares of the company’s stock valued at $85,000 after acquiring an additional 774 shares in the last quarter. National Bank of Canada FI lifted its stake in Symbotic by 36.8% during the 3rd quarter. National Bank of Canada FI now owns 3,557 shares of the company’s stock valued at $87,000 after acquiring an additional 957 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Symbotic by 40.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,566 shares of the company’s stock valued at $85,000 after acquiring an additional 1,018 shares in the last quarter.

Analysts Set New Price Targets

SYM has been the subject of a number of recent analyst reports. Northland Securities increased their target price on shares of Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Needham & Company LLC decreased their target price on shares of Symbotic from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. TD Cowen increased their target price on shares of Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. The Goldman Sachs Group decreased their target price on shares of Symbotic from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $60.00 price target on shares of Symbotic in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $38.33.

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.