Symbotic (NASDAQ:SYM) Stock: Insider Todd Krasnow Sells 2,000 Shares

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $38.46, for a total transaction of $76,920.00. The sale was disclosed in a document filed with the SEC, which is accessible 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, October 5th, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $42.72, for a total transaction of $85,440.00.
• On Tuesday, September 8th, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $43.57, for a total transaction of $87,140.00.

Symbotic Price Performance

Shares of NASDAQ:SYM opened at $35.04 on Friday. The company’s 50-day moving average price is $41.01 and its two-hundred day moving average price is $47.57. Symbotic Inc. has a one year low of $33.17 and a one year high of $87.88. The stock has a market capitalization of $21.19 billion, a PE ratio of 416.78, a price-to-earnings-growth ratio of 3.55 and a beta of 2.06.

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

Analysts Set New Price Targets

Several research analysts recently commented on the company. Zacks Research raised Symbotic from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th. TD Cowen decreased their price target on Symbotic from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Barclays lowered their price target on Symbotic from $44.00 to $38.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 8th. Robert W. Baird set a $51.00 price objective on Symbotic in a research note on Thursday, August 6th. Finally, Needham & Company LLC dropped their price objective on Symbotic from C$75.00 to C$60.00 and set a “buy” rating on the stock in a research note on Tuesday, September 15th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Symbotic has an average rating of “Hold” and an average price target of $65.83.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SYM. Financiere des Professionnels Fonds d investissement inc. acquired a new stake in Symbotic during the 1st quarter valued at $788,000. Amundi increased its holdings in shares of Symbotic by 68.5% in the first quarter. Amundi now owns 108,553 shares of the company’s stock valued at $5,775,000 after purchasing an additional 44,132 shares during the last quarter. Wealthfront Advisers LLC increased its holdings in shares of Symbotic by 168.1% in the first quarter. Wealthfront Advisers LLC now owns 71,248 shares of the company’s stock valued at $3,790,000 after purchasing an additional 44,676 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Symbotic by 41.1% in the first quarter. Royal Bank of Canada now owns 100,018 shares of the company’s stock valued at $5,321,000 after purchasing an additional 29,152 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of Symbotic by 21.0% in the first quarter. Sei Investments Co. now owns 144,420 shares of the company’s stock valued at $7,683,000 after purchasing an additional 25,024 shares during the period.

Trending Headlines about Symbotic

Here are the key news stories impacting Symbotic this week:

• Positive Sentiment: Symbotic is extending its automation partnership with Walmart, with plans to introduce advanced systems at 25 U.S. regional distribution centers. The deal has been described as worth $6 billion, potentially broadening Symbotic’s deployment opportunity with a major customer. Article: Should Investors Bet on SYM Stock Post the Walmart Deal Expansion?
• Neutral Sentiment: Two directors each sold 2,000 shares under pre-arranged Rule 10b5-1 plans. The sales may draw investor attention, but were relatively small and the directors retained substantial holdings. Article: Symbotic Director Charles Kane Sells Shares
• Negative Sentiment: Shares are trading well below their 50-day and 200-day moving averages and close to the provided 52-week low, signaling a weak recent technical trend that could weigh on sentiment.

Symbotic Company Profile

Symbotic Inc is an automation technology company that develops artificial intelligence-enabled robotics and software for supply chain and warehouse operations. Its systems are designed to automate the movement, storage, retrieval and replenishment of pallets and cases within large distribution centers, helping customers manage inventory and fulfill orders more efficiently.

The company’s platform combines mobile robots, automated storage and retrieval systems, robotic palletizing and depalletizing equipment, and warehouse-control software.