Insider Selling: Symbotic (NASDAQ:SYM) Director Sells 4,000 Shares of Stock

Key Points

• Todd Krasnow, director at Symbotic Inc., sold 4,000 shares on October 6th for approximately $268,080, marking his most recent insider trading activity.
• Symbotic's stock shows a recent trading increase of 0.6%, closing at $68.83 with a 52-week high of $71.29.
• The company's latest quarterly earnings report indicated a revenue increase of 25.9% year-over-year, although it reported an EPS loss of ($0.05) against analysts' estimates.

Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Todd Krasnow sold 4,000 shares of the company's stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $67.02, for a total value of $268,080.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, September 3rd, Todd Krasnow sold 4,000 shares of Symbotic stock. The shares were sold at an average price of $45.64, for a total value of $182,560.00.
• On Wednesday, August 13th, Todd Krasnow sold 30,000 shares of Symbotic stock. The shares were sold at an average price of $51.54, for a total value of $1,546,200.00.
• On Monday, August 4th, Todd Krasnow sold 4,000 shares of Symbotic stock. The shares were sold at an average price of $55.15, for a total value of $220,600.00.

Symbotic Trading Up 0.6%

Shares of NASDAQ SYM traded up $0.41 during trading hours on Wednesday, reaching $68.83. The stock had a trading volume of 1,713,852 shares, compared to its average volume of 1,979,450. The firm has a market cap of $40.64 billion, a price-to-earnings ratio of -983.15, a PEG ratio of 13.15 and a beta of 2.06. Symbotic Inc. has a fifty-two week low of $16.32 and a fifty-two week high of $71.29. The firm has a 50-day moving average of $52.34 and a 200-day moving average of $38.40.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.08). The business had revenue of $592.12 million during the quarter, compared to analyst estimates of $533.55 million. Symbotic had a negative net margin of 0.38% and a negative return on equity of 2.02%. The company's revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. On average, equities analysts predict that Symbotic Inc. will post 0.13 EPS for the current year.

Institutional Trading of Symbotic

A number of institutional investors have recently added to or reduced their stakes in SYM. Amanah Holdings Trust purchased a new stake in Symbotic during the second quarter worth about $19,824,000. Canada Pension Plan Investment Board purchased a new stake in shares of Symbotic in the first quarter valued at about $4,968,000. ARK Investment Management LLC lifted its holdings in shares of Symbotic by 106.9% in the first quarter. ARK Investment Management LLC now owns 393,293 shares of the company's stock valued at $7,948,000 after purchasing an additional 203,226 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Symbotic by 16.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,343,902 shares of the company's stock valued at $27,155,000 after purchasing an additional 187,538 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Symbotic in the second quarter valued at about $5,504,000.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Arete Research lowered shares of Symbotic from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Oppenheimer lifted their price objective on shares of Symbotic from $54.00 to $59.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. UBS Group restated a "sell" rating and issued a $35.00 price objective (up from $27.00) on shares of Symbotic in a research note on Tuesday, September 23rd. Wall Street Zen downgraded shares of Symbotic from a "hold" rating to a "sell" rating in a report on Friday, September 26th. Finally, Baird R W cut shares of Symbotic from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. Seven research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $44.61.

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.

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