Symbotic (NASDAQ:SYM) Director Sells $87,140.00 in Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $43.57, for a total transaction of $87,140.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 3rd, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $45.27, for a total transaction of $90,540.00.
• On Monday, July 6th, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $43.92, for a total transaction of $87,840.00.

Symbotic Trading Up 2.5%

Shares of Symbotic stock opened at $42.13 on Friday. Symbotic Inc. has a twelve month low of $37.68 and a twelve month high of $87.88. The firm has a market capitalization of $25.48 billion, a PE ratio of 468.11, a P/E/G ratio of 6.69 and a beta of 1.94. The firm’s 50-day moving average price is $41.90 and its 200 day moving average price is $47.74.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). Symbotic had a return on equity of 1.40% and a net margin of 0.48%.The firm had revenue of $720.84 million for the quarter, compared to analysts’ expectations of $715.03 million. During the same quarter last year, the firm posted ($0.05) earnings per share. Symbotic’s quarterly revenue was up 21.7% on a year-over-year basis. On average, sell-side analysts predict that Symbotic Inc. will post 0.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Symbotic

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Handelsbanken Fonder AB grew its holdings in shares of Symbotic by 54.3% during the 4th quarter. Handelsbanken Fonder AB now owns 423,020 shares of the company’s stock worth $25,170,000 after purchasing an additional 148,842 shares during the period. Polianta Ltd purchased a new stake in Symbotic in the 1st quarter valued at about $1,596,000. Financiere des Professionnels Fonds d investissement inc. purchased a new stake in Symbotic in the 1st quarter valued at about $788,000. Seven Grand Managers LLC purchased a new stake in Symbotic in the 4th quarter valued at about $4,462,000. Finally, Black Swift Group LLC acquired a new position in Symbotic in the fourth quarter valued at about $1,971,000.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $75.00 price objective on shares of Symbotic in a research note on Thursday, August 6th. Zacks Research raised shares of Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Weiss Ratings lowered shares of Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, September 4th. The Goldman Sachs Group reduced their target price on shares of Symbotic from $54.00 to $45.00 and set a “sell” rating for the company in a research report on Tuesday, May 26th. Finally, Barclays decreased their price target on shares of Symbotic from $44.00 to $38.00 and set an “underweight” rating on the stock in a research note on Tuesday, September 8th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Symbotic currently has an average rating of “Hold” and an average price target of $65.42.

Symbotic Company Profile

Symbotic Inc is an automation technology company that develops artificial intelligence-enabled robotics and software for large-scale warehouses and distribution centers. Its systems are designed to automate the movement, storage and retrieval of pallets and cases, helping customers manage inventory and improve the efficiency of supply-chain operations.

The company’s platform combines robotics, machine learning, warehouse-control software and automated storage systems. Symbotic’s technology can receive goods, organize inventory, retrieve products and assemble orders for shipment, supporting distribution operations for retail and grocery companies.

Symbotic was founded in 2006 and is headquartered in Wilmington, Massachusetts.