Todd Krasnow Sells 4,000 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Todd Krasnow sold 4,000 shares of Symbotic stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $29.65, for a total transaction of $118,600.00. Following the transaction, the director now directly owns 189,036 shares of the company's stock, valued at $5,604,917.40. This represents a 2.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, May 27th, Todd Krasnow sold 4,000 shares of Symbotic stock. The stock was sold at an average price of $30.63, for a total value of $122,520.00.
• On Tuesday, May 13th, Todd Krasnow sold 5,940 shares of Symbotic stock. The stock was sold at an average price of $26.38, for a total value of $156,697.20.
• On Tuesday, May 13th, Todd Krasnow sold 4,060 shares of Symbotic stock. The shares were sold at an average price of $26.40, for a total transaction of $107,184.00.
• On Friday, April 4th, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $17.51, for a total transaction of $35,020.00.

Symbotic Trading Up 16.0%

Shares of SYM stock traded up $4.48 on Monday, hitting $32.45. 4,031,668 shares of the stock were exchanged, compared to its average volume of 1,945,459. The firm's 50 day moving average is $25.01 and its two-hundred day moving average is $25.15. Symbotic Inc. has a one year low of $16.32 and a one year high of $41.76. The firm has a market capitalization of $19.13 billion, a PE ratio of -463.51, a P/E/G ratio of 6.48 and a beta of 1.95.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.09). Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. The business had revenue of $549.65 million during the quarter, compared to analysts' expectations of $522.36 million. During the same period last year, the company posted ($0.07) EPS. Symbotic's revenue for the quarter was up 39.7% on a year-over-year basis. On average, sell-side analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SYM shares. UBS Group decreased their target price on Symbotic from $32.00 to $30.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. Citigroup cut their target price on Symbotic from $37.00 to $29.00 and set a "buy" rating on the stock in a report on Monday, April 14th. BWS Financial restated a "sell" rating and set a $10.00 price objective on shares of Symbotic in a report on Wednesday, April 2nd. Finally, The Goldman Sachs Group reduced their price objective on shares of Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $37.20.

Institutional Investors Weigh In On Symbotic

Institutional investors have recently modified their holdings of the stock. IFP Advisors Inc boosted its stake in shares of Symbotic by 58.2% in the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock worth $32,000 after acquiring an additional 503 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of Symbotic by 1.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 48,672 shares of the company's stock worth $1,154,000 after acquiring an additional 619 shares during the last quarter. Swiss National Bank boosted its stake in shares of Symbotic by 0.9% during the first quarter. Swiss National Bank now owns 82,400 shares of the company's stock valued at $1,665,000 after purchasing an additional 700 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Symbotic by 4.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,208 shares of the company's stock valued at $348,000 after purchasing an additional 757 shares during the period. Finally, Spire Wealth Management increased its holdings in Symbotic by 8.0% during the first quarter. Spire Wealth Management now owns 13,596 shares of the company's stock valued at $275,000 after buying an additional 1,012 shares during the period.

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.