Symbotic (NASDAQ:SYM) Director Sells $85,440.00 in Stock

Key Points

• Symbotic director Todd Krasnow sold 2,000 shares at an average price of $42.72, generating $85,440. The sale was executed under a pre-arranged Rule 10b5-1 trading plan.
• Symbotic shares traded at $43.31, with the stock down $0.84 during the session. The company has a $26.19 billion market capitalization and trades at a notably high price-to-earnings ratio of 481.22.
• Analysts have a consensus “Hold” rating and an average price target of $65.45, despite mixed views ranging from Barclays’ $38 underweight target to Robert W. Baird’s $51 target.

Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Todd Krasnow sold 2,000 shares of the business's stock in a transaction on Monday, October 5th. The shares were sold at an average price of $42.72, for a total transaction of $85,440.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, September 8th, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $43.57, for a total transaction of $87,140.00.
• On Monday, August 3rd, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $45.27, for a total transaction of $90,540.00.

Symbotic Price Performance

NASDAQ:SYM traded down $0.84 during midday trading on Wednesday, reaching $43.31. 1,339,882 shares of the company traded hands, compared to its average volume of 1,630,617. Symbotic Inc. has a twelve month low of $37.68 and a twelve month high of $87.88. The firm has a market capitalization of $26.19 billion, a price-to-earnings ratio of 481.22, a price-to-earnings-growth ratio of 4.91 and a beta of 1.97. The company has a fifty day moving average price of $42.28 and a 200 day moving average price of $46.52.

Symbotic (NASDAQ:SYM - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). Symbotic had a return on equity of 1.40% and a net margin of 0.48%.The company had revenue of $720.84 million during the quarter, compared to analyst estimates of $715.03 million. During the same period in the prior year, the business earned ($0.05) earnings per share. Symbotic's quarterly revenue was up 21.7% on a year-over-year basis. On average, equities research analysts forecast that Symbotic Inc. will post 0.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on SYM shares. Weiss Ratings raised shares of Symbotic from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, September 21st. Robert W. Baird set a $51.00 price target on Symbotic in a report on Thursday, August 6th. Needham & Company LLC reduced their price objective on Symbotic from C$75.00 to C$60.00 and set a "buy" rating for the company in a research report on Tuesday, September 15th. Zacks Research raised Symbotic from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 5th. Finally, Barclays lowered their target price on Symbotic from $44.00 to $38.00 and set an "underweight" rating on the stock in a research report on Tuesday, September 8th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Symbotic currently has an average rating of "Hold" and an average price target of $65.45.

Hedge Funds Weigh In On Symbotic

Large investors have recently bought and sold shares of the stock. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Symbotic in the 4th quarter worth approximately $48,000. HHM Wealth Advisors LLC increased its stake in shares of Symbotic by 81,700.0% during the first quarter. HHM Wealth Advisors LLC now owns 1,636 shares of the company's stock valued at $87,000 after acquiring an additional 1,634 shares during the period. Nykredit A S bought a new stake in Symbotic during the second quarter worth approximately $89,000. IAG Wealth Partners LLC lifted its position in Symbotic by 29.4% in the first quarter. IAG Wealth Partners LLC now owns 1,752 shares of the company's stock worth $93,000 after purchasing an additional 398 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its position in Symbotic by 115.3% in the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 1,996 shares of the company's stock worth $106,000 after purchasing an additional 1,069 shares during the period.

Symbotic Company Profile

Symbotic Inc is a technology company that develops automation systems for warehouse and supply-chain operations. Its platform combines artificial intelligence, robotics, software and high-speed material-handling equipment to automate the movement, storage and retrieval of goods within large distribution centers.

The company's solutions are designed to manage products from inbound receiving and pallet depalletizing through storage, replenishment, order assembly and outbound shipping. Symbotic's systems use autonomous robots and software to organize inventory and build store-ready orders, helping retailers and other supply-chain operators improve warehouse utilization, throughput and operational consistency.

Symbotic primarily serves large retail and grocery distribution networks, with deployments concentrated in North America.

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