Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow Sells 30,000 Shares

Key Points

• Director Todd Krasnow sold 30,000 shares of Symbotic Inc. stock for approximately $1.55 million at an average price of $51.54 per share.
• Symbotic recently reported a loss of $0.05 per share for the quarter, missing analysts' expectations, despite revenue growth of 25.9% year-over-year.
• Brokerages have mixed ratings on Symbotic, with some analysts downgrading the stock while others maintain a buy rating, reflecting ongoing volatility in investor sentiment.

Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Todd Krasnow sold 30,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $51.54, for a total transaction of $1,546,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, August 4th, Todd Krasnow sold 4,000 shares of Symbotic stock. The stock was sold at an average price of $55.15, for a total transaction of $220,600.00.
• On Monday, July 7th, Todd Krasnow sold 4,000 shares of Symbotic stock. The shares were sold at an average price of $46.48, for a total transaction of $185,920.00.
• On Wednesday, June 11th, Todd Krasnow sold 4,000 shares of Symbotic stock. The stock was sold at an average price of $29.65, for a total transaction of $118,600.00.
• On Tuesday, May 27th, Todd Krasnow sold 4,000 shares of Symbotic stock. The shares were sold at an average price of $30.63, for a total transaction of $122,520.00.

Symbotic Stock Down 0.3%

SYM traded down $0.16 during midday trading on Friday, reaching $52.57. The company had a trading volume of 1,164,468 shares, compared to its average volume of 1,989,165. The company has a market cap of $31.00 billion, a P/E ratio of -750.89, a P/E/G ratio of 55.92 and a beta of 2.06. The business has a 50-day moving average of $45.42 and a two-hundred day moving average of $31.53. Symbotic Inc. has a 1 year low of $16.32 and a 1 year high of $64.16.

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

Analysts Set New Price Targets

Several brokerages have issued reports on SYM. Baird R W lowered shares of Symbotic from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. Citigroup reissued a "buy" rating on shares of Symbotic in a research note on Monday, July 14th. Arete Research downgraded Symbotic from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Needham & Company LLC lifted their target price on Symbotic from $32.00 to $57.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, Robert W. Baird cut Symbotic from an "outperform" rating to a "neutral" rating and set a $55.00 price target on the stock. in a report on Thursday, August 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Symbotic currently has an average rating of "Hold" and a consensus target price of $42.69.

Hedge Funds Weigh In On Symbotic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IAG Wealth Partners LLC acquired a new stake in shares of Symbotic in the second quarter valued at $32,000. AdvisorNet Financial Inc purchased a new stake in Symbotic in the 2nd quarter worth approximately $32,000. Gables Capital Management Inc. purchased a new stake in shares of Symbotic during the 2nd quarter valued at $39,000. NewEdge Advisors LLC boosted its position in Symbotic by 81.5% during the 2nd quarter. NewEdge Advisors LLC now owns 1,276 shares of the company's stock worth $50,000 after purchasing an additional 573 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Symbotic by 1,812.2% in the 1st quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock valued at $29,000 after purchasing an additional 1,341 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.

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