Insider Selling: Symbotic Inc. (NASDAQ:SYM) Director Sells $47,920.00 in Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $23.96, for a total value of $47,920.00. Following the sale, the director now owns 2,000 shares in the company, valued at $47,920. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, September 3rd, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $18.75, for a total transaction of $37,500.00.
• On Monday, August 5th, Todd Krasnow sold 17,000 shares of Symbotic stock. The stock was sold at an average price of $21.46, for a total transaction of $364,820.00.

Symbotic Trading Up 3.4 %

SYM opened at $23.84 on Friday. Symbotic Inc. has a twelve month low of $17.11 and a twelve month high of $59.82. The firm has a market cap of $13.96 billion, a price-to-earnings ratio of -99.33 and a beta of 1.84. The company has a fifty day simple moving average of $22.63 and a 200 day simple moving average of $34.17.

Symbotic (NASDAQ:SYM) last announced its earnings results on Monday, July 29th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). Symbotic had a negative net margin of 1.03% and a positive return on equity of 4.08%. The business had revenue of $491.86 million for the quarter, compared to analyst estimates of $464.56 million. During the same quarter in the prior year, the business earned ($0.07) earnings per share. The firm’s revenue was up 57.7% on a year-over-year basis. On average, analysts forecast that Symbotic Inc. will post -0.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on SYM shares. Robert W. Baird cut their price target on shares of Symbotic from $53.00 to $41.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft increased their target price on Symbotic from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group lowered their price target on Symbotic from $40.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Vertical Research began coverage on Symbotic in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $45.00 price objective on the stock. Finally, KeyCorp dropped their target price on shares of Symbotic from $55.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.23.

Institutional Investors Weigh In On Symbotic

Several hedge funds and other institutional investors have recently bought and sold shares of SYM. RFP Financial Group LLC increased its stake in shares of Symbotic by 21.2% in the first quarter. RFP Financial Group LLC now owns 1,382 shares of the company’s stock worth $62,000 after buying an additional 242 shares during the last quarter. Advisors Asset Management Inc. increased its position 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 purchasing an additional 284 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Symbotic by 4.5% in the 1st quarter. California State Teachers Retirement System now owns 15,057 shares of the company’s stock valued at $678,000 after purchasing an additional 654 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Symbotic by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 8,655 shares of the company’s stock worth $304,000 after purchasing an additional 679 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Symbotic by 7.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the company’s stock worth $597,000 after purchasing an additional 800 shares in 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.