Symbotic Inc. (NASDAQ:SYM) Director Sells $48,080.00 in Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $24.04, for a total value of $48,080.00. Following the sale, the director now owns 214,036 shares in the company, valued at approximately $5,145,425.44. This represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, November 4th, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $28.15, for a total transaction of $56,300.00.

Symbotic Stock Performance

NASDAQ:SYM opened at $26.70 on Tuesday. The company has a market cap of $15.68 billion, a price-to-earnings ratio of -445.00 and a beta of 1.76. The stock’s fifty day moving average price is $28.58 and its two-hundred day moving average price is $27.94. Symbotic Inc. has a 52-week low of $17.11 and a 52-week high of $52.20.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings results on Monday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. The business had revenue of $576.77 million for the quarter, compared to analyst estimates of $470.24 million. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The firm’s revenue for the quarter was up 47.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. On average, equities analysts predict that Symbotic Inc. will post 0.12 EPS for the current fiscal year.

Analysts Set New Price Targets

SYM has been the topic of a number of analyst reports. UBS Group lowered their target price on shares of Symbotic from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday. Northland Securities increased their target price on Symbotic from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Needham & Company LLC decreased their price target on Symbotic from $46.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. DA Davidson lowered Symbotic from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $50.00 to $35.00 in a research note on Wednesday, November 27th. Finally, Craig Hallum downgraded shares of Symbotic from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $41.79.

Institutional Investors Weigh In On Symbotic

Several institutional investors have recently modified their holdings of SYM. Castleview Partners LLC boosted its position in shares of Symbotic by 50.0% in the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after purchasing an additional 500 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Symbotic by 8.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,655 shares of the company’s stock worth $304,000 after buying an additional 679 shares during the period. Van ECK Associates Corp increased its stake in shares of Symbotic by 28.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,497 shares of the company’s stock valued at $85,000 after acquiring an additional 774 shares during the last quarter. National Bank of Canada FI increased its stake in shares of Symbotic by 36.8% in the 3rd quarter. National Bank of Canada FI now owns 3,557 shares of the company’s stock valued at $87,000 after acquiring an additional 957 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Symbotic by 21.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,309 shares of the company’s stock worth $222,000 after acquiring an additional 1,130 shares during the last quarter.

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.