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

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 4,000 shares of Symbotic stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $71.00, for a total transaction of $284,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Tuesday, November 4th, Todd Krasnow sold 4,000 shares of Symbotic stock. The stock was sold at an average price of $76.75, for a total transaction of $307,000.00.
• On Monday, October 6th, Todd Krasnow sold 4,000 shares of Symbotic stock. The stock was sold at an average price of $67.02, for a total value of $268,080.00.

Symbotic Stock Down 1.3%

Shares of NASDAQ SYM traded down $0.78 during trading hours on Friday, reaching $59.70. 12,414,395 shares of the stock traded hands, compared to its average volume of 2,167,403. The company has a market capitalization of $35.31 billion, a P/E ratio of -398.00, a price-to-earnings-growth ratio of 20.77 and a beta of 2.10. The company’s 50-day simple moving average is $68.08 and its two-hundred day simple moving average is $52.49. Symbotic Inc. has a 52-week low of $16.32 and a 52-week high of $87.88.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Monday, November 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). The business had revenue of $618.46 million during the quarter, compared to analysts’ expectations of $604.00 million. Symbotic had a negative net margin of 0.75% and a negative return on equity of 3.89%. Symbotic’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the company posted $0.47 EPS. As a group, sell-side analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SYM has been the topic of several analyst reports. Zacks Research raised shares of Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft boosted their price target on Symbotic from $55.00 to $63.00 and gave the company a “hold” rating in a report on Tuesday, November 25th. DA Davidson reiterated a “neutral” rating and issued a $47.00 price objective on shares of Symbotic in a research report on Tuesday, November 25th. Baird R W cut Symbotic from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 7th. Finally, Barclays raised their price target on Symbotic from $38.00 to $41.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 26th. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $56.07.

Hedge Funds Weigh In On Symbotic

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Symbotic by 2.1% in the third quarter. Vanguard Group Inc. now owns 4,695,021 shares of the company’s stock worth $253,062,000 after acquiring an additional 98,384 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Symbotic by 16.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,343,902 shares of the company’s stock worth $27,155,000 after buying an additional 187,538 shares during the last quarter. UBS Group AG grew its holdings in shares of Symbotic by 22.3% in the third quarter. UBS Group AG now owns 1,105,770 shares of the company’s stock worth $59,601,000 after acquiring an additional 201,547 shares during the period. Raymond James Financial Inc. increased its position in Symbotic by 12.1% during the first quarter. Raymond James Financial Inc. now owns 980,922 shares of the company’s stock valued at $19,824,000 after acquiring an additional 105,616 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Symbotic in the third quarter worth about $34,296,000.

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.