Symbotic Inc. (NASDAQ:SYM) Director Sells $48,080.00 in Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $24.04, for a total transaction 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. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

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

Symbotic Price Performance

Shares of NASDAQ:SYM opened at $25.59 on Wednesday. The stock’s 50-day moving average is $28.55 and its 200 day moving average is $27.89. The company has a market cap of $15.03 billion, a PE ratio of -426.50 and a beta of 1.76. Symbotic Inc. has a 1 year low of $17.11 and a 1 year high of $52.20.

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

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Needham & Company LLC cut their target price on shares of Symbotic from $46.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. KeyCorp reiterated a “sector weight” rating on shares of Symbotic in a research report on Wednesday, November 27th. BWS Financial restated a “sell” rating and issued a $10.00 target price on shares of Symbotic in a research report on Tuesday, November 19th. The Goldman Sachs Group reduced their price target on shares of Symbotic from $34.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 4th. Finally, Craig Hallum downgraded shares of Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a research note on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $41.79.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Capital Market Strategies LLC bought a new stake in shares of Symbotic during the 4th quarter valued at about $802,000. 1ST Source Bank purchased a new stake in Symbotic in the third quarter worth about $488,000. Sanctuary Advisors LLC bought a new stake in Symbotic during the 3rd quarter valued at approximately $1,029,000. Barclays PLC grew its holdings in shares of Symbotic by 1,105.9% during the 3rd quarter. Barclays PLC now owns 9,346 shares of the company’s stock worth $228,000 after acquiring an additional 8,571 shares during the period. Finally, TCW Group Inc. raised its position in shares of Symbotic by 0.8% in the 3rd quarter. TCW Group Inc. now owns 384,274 shares of the company’s stock worth $9,372,000 after acquiring an additional 3,075 shares in 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.