Todd Krasnow Sells 4,000 Shares of Symbotic (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 4,000 shares of the firm’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $67.02, for a total transaction of $268,080.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, September 3rd, Todd Krasnow sold 4,000 shares of Symbotic stock. The stock was sold at an average price of $45.64, for a total transaction of $182,560.00.
• On Wednesday, August 13th, Todd Krasnow sold 30,000 shares of Symbotic stock. The stock was sold at an average price of $51.54, for a total transaction of $1,546,200.00.
• On Monday, August 4th, Todd Krasnow sold 4,000 shares of Symbotic stock. The stock was sold at an average price of $55.15, for a total transaction of $220,600.00.

Symbotic Price Performance

SYM opened at $67.14 on Friday. Symbotic Inc. has a fifty-two week low of $16.32 and a fifty-two week high of $71.29. The firm’s fifty day moving average price is $52.93 and its two-hundred day moving average price is $38.91. The company has a market capitalization of $39.65 billion, a P/E ratio of -959.01, a P/E/G ratio of 13.34 and a beta of 2.06.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.08). Symbotic had a negative return on equity of 2.02% and a negative net margin of 0.38%.The business had revenue of $592.12 million for the quarter, compared to analyst estimates of $533.55 million. During the same quarter in the prior year, the firm earned ($0.02) EPS. The firm’s quarterly revenue was up 25.9% on a year-over-year basis. On average, equities research analysts expect that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. IAG Wealth Partners LLC bought a new position in shares of Symbotic in the second quarter valued at about $32,000. AdvisorNet Financial Inc bought a new position in shares of Symbotic in the second quarter valued at about $32,000. Gables Capital Management Inc. bought a new position in shares of Symbotic in the second quarter valued at about $39,000. NewEdge Advisors LLC raised its holdings in shares of Symbotic by 81.5% in the second quarter. NewEdge Advisors LLC now owns 1,276 shares of the company’s stock valued at $50,000 after buying an additional 573 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Symbotic by 1,812.2% in the first quarter. GAMMA Investing LLC now owns 1,415 shares of the company’s stock valued at $29,000 after buying an additional 1,341 shares during the last quarter.

Analyst Upgrades and Downgrades

SYM has been the topic of a number of recent research reports. Zacks Research upgraded shares of Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. Robert W. Baird cut Symbotic from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Thursday, August 7th. Northland Securities lifted their price objective on Symbotic from $35.00 to $56.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Oppenheimer lifted their price objective on Symbotic from $54.00 to $59.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Finally, Citigroup reissued a “buy” rating on shares of Symbotic in a report on Monday, July 14th. Seven research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $44.61.

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.