Insider Selling: Symbotic Inc. (NASDAQ:SYM) Director Sells 2,000 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $35.49, for a total transaction of $70,980.00. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at approximately $70,980. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Monday, June 3rd, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $39.79, for a total transaction of $79,580.00.
• On Tuesday, May 28th, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $40.92, for a total transaction of $81,840.00.
• On Friday, April 5th, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $42.20, for a total transaction of $84,400.00.

Symbotic Stock Performance

NASDAQ SYM opened at $35.34 on Thursday. Symbotic Inc. has a 52 week low of $29.62 and a 52 week high of $64.14. The company has a 50-day moving average price of $39.27 and a two-hundred day moving average price of $42.84.

Symbotic (NASDAQ:SYM) last posted its earnings results on Monday, May 6th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.25. Symbotic had a negative net margin of 1.27% and a positive return on equity of 5.27%. The firm had revenue of $424.30 million during the quarter, compared to analysts’ expectations of $415.98 million. Equities research analysts expect that Symbotic Inc. will post -0.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

SYM has been the subject of several research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $54.00 target price on shares of Symbotic in a research report on Tuesday, May 7th. Northland Securities boosted their price objective on shares of Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Robert W. Baird boosted their price objective on shares of Symbotic from $52.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Craig Hallum boosted their price objective on shares of Symbotic from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, William Blair reaffirmed a “market perform” rating on shares of Symbotic in a research report on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Institutional Trading of Symbotic

A number of institutional investors have recently made changes to their positions in the stock. RFP Financial Group LLC lifted its stake in shares of Symbotic by 21.2% in the 1st quarter. RFP Financial Group LLC now owns 1,382 shares of the company’s stock worth $62,000 after acquiring an additional 242 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Symbotic by 11.6% in the 1st quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock worth $123,000 after acquiring an additional 284 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Symbotic by 8.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,875 shares of the company’s stock worth $250,000 after acquiring an additional 400 shares during the period. Natixis Advisors L.P. lifted its stake in shares of Symbotic by 4.3% in the 4th quarter. Natixis Advisors L.P. now owns 10,983 shares of the company’s stock worth $563,000 after acquiring an additional 456 shares during the period. Finally, Van ECK Associates Corp acquired a new stake in shares of Symbotic in the 4th quarter worth approximately $26,000.

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.