Symbotic (NASDAQ:SYM) Director Sells $274,520.00 in Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 4,000 shares of Symbotic stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $68.63, for a total transaction of $274,520.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, December 3rd, Todd Krasnow sold 4,000 shares of Symbotic stock. The shares were sold at an average price of $71.00, for a total transaction of $284,000.00.
• 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.

Symbotic Trading Up 0.3%

Symbotic stock opened at $70.82 on Friday. Symbotic Inc. has a 12 month low of $16.32 and a 12 month high of $87.88. The stock’s 50 day moving average is $65.06 and its 200-day moving average is $58.21. The company has a market capitalization of $41.89 billion, a price-to-earnings ratio of -472.13, a PEG ratio of 20.09 and a beta of 2.13.

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

Wall Street Analysts Forecast Growth

SYM has been the subject of several analyst reports. Cantor Fitzgerald lifted their price objective on shares of Symbotic from $60.00 to $82.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. Northland Securities lifted their price target on shares of Symbotic from $56.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft increased their price target on Symbotic from $55.00 to $63.00 and gave the stock a “hold” rating in a research report on Tuesday, November 25th. UBS Group restated a “sell” rating and set a $35.00 price objective (up previously from $27.00) on shares of Symbotic in a research note on Tuesday, September 23rd. Finally, DA Davidson reiterated a “neutral” rating and set a $47.00 target price on shares of Symbotic in a research report on Tuesday, November 25th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $56.50.

Institutional Investors Weigh In On Symbotic

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in shares of Symbotic in the 3rd quarter valued at $34,296,000. Amanah Holdings Trust acquired a new stake in Symbotic in the second quarter valued at about $19,824,000. Franklin Resources Inc. grew its position in Symbotic by 3,188.8% in the third quarter. Franklin Resources Inc. now owns 274,155 shares of the company’s stock valued at $14,777,000 after acquiring an additional 265,819 shares during the last quarter. Handelsbanken Fonder AB raised its stake in Symbotic by 626.4% during the third quarter. Handelsbanken Fonder AB now owns 274,178 shares of the company’s stock worth $14,778,000 after acquiring an additional 236,435 shares in the last quarter. Finally, Voloridge Investment Management LLC bought a new position in shares of Symbotic in the third quarter worth about $12,377,000.

Symbotic Company Profile

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.