Symbotic (NASDAQ:SYM) Director Sells $87,840.00 in Stock

Key Points

• Symbotic Director Todd Krasnow sold 2,000 shares on July 6 for about $87,840 at an average price of $43.92, and the trade was made under a pre-arranged Rule 10b5-1 plan.
• The filing comes after a series of recent insider sales by Krasnow, including several larger transactions in May and June, which may be seen as a sign of limited near-term insider confidence.
• Symbotic shares were trading around $41.69, near the lower end of their 52-week range of $38.19 to $87.88, while the company also reported mixed quarterly results with revenue growth but earnings that missed expectations.

Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $43.92, for a total transaction of $87,840.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, May 21st, Todd Krasnow sold 3,367 shares of Symbotic stock. The shares were sold at an average price of $51.00, for a total transaction of $171,717.00.
• On Monday, June 1st, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $47.30, for a total transaction of $94,600.00.
• On Friday, May 22nd, Todd Krasnow sold 19,655 shares of Symbotic stock. The stock was sold at an average price of $53.73, for a total transaction of $1,056,063.15.
• On Friday, May 22nd, Todd Krasnow sold 6,978 shares of Symbotic stock. The shares were sold at an average price of $52.12, for a total transaction of $363,693.36.
• On Monday, May 11th, Todd Krasnow sold 25,422 shares of Symbotic stock. The stock was sold at an average price of $52.45, for a total transaction of $1,333,383.90.
• On Monday, May 4th, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $57.61, for a total transaction of $115,220.00.

Symbotic Price Performance

SYM stock traded up $0.37 during trading hours on Wednesday, reaching $41.69. 2,055,984 shares of the stock were exchanged, compared to its average volume of 1,926,618. The firm's 50-day moving average is $47.48 and its 200-day moving average is $54.04. Symbotic Inc. has a 12 month low of $38.19 and a 12 month high of $87.88. The company has a market cap of $25.13 billion, a price-to-earnings ratio of -833.63, a PEG ratio of 6.56 and a beta of 1.93.

Symbotic (NASDAQ:SYM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.11). The firm had revenue of $676.48 million during the quarter, compared to the consensus estimate of $662.65 million. Symbotic had a negative net margin of 0.20% and a negative return on equity of 0.68%. The business's revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.04) earnings per share. As a group, equities research analysts forecast that Symbotic Inc. will post 0.23 earnings per share for the current year.

Institutional Trading of Symbotic

Institutional investors and hedge funds have recently bought and sold shares of the stock. Parkside Financial Bank & Trust boosted its position in Symbotic by 100.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 536 shares of the company's stock valued at $32,000 after purchasing an additional 268 shares during the last quarter. Quarry LP bought a new position in Symbotic in the fourth quarter valued at approximately $36,000. Parallel Advisors LLC increased its position in shares of Symbotic by 67.3% during the 4th quarter. Parallel Advisors LLC now owns 619 shares of the company's stock worth $37,000 after purchasing an additional 249 shares during the last quarter. Ameriflex Group Inc. increased its position in shares of Symbotic by 1,500.0% during the 3rd quarter. Ameriflex Group Inc. now owns 704 shares of the company's stock worth $38,000 after purchasing an additional 660 shares during the last quarter. Finally, Strategic Advocates LLC bought a new stake in shares of Symbotic during the 3rd quarter worth approximately $42,000.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SYM. Barclays upped their price target on Symbotic from $42.00 to $44.00 and gave the stock an "underweight" rating in a research report on Monday, March 16th. DA Davidson reiterated a "buy" rating and issued a $70.00 price objective on shares of Symbotic in a report on Monday, May 11th. Weiss Ratings lowered shares of Symbotic from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, May 11th. Finally, The Goldman Sachs Group reduced their target price on shares of Symbotic from $54.00 to $45.00 and set a "sell" rating for the company in a report on Tuesday, May 26th. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $65.23.

Key Symbotic News

Here are the key news stories impacting Symbotic this week:

• Positive Sentiment: Analysts and recent commentary continue to argue that Symbotic could be undervalued relative to its warehouse automation growth narrative, with some articles saying the stock still looks cheap after a long run. Symbotic (SYM) Stock Still Looks Cheap Following Its 315% Run
• Neutral Sentiment: Research notes highlight mixed views on the stock, including a Hold-style rating from Zacks and a broader analyst consensus that remains around Hold despite several buy ratings. Symbotic (SYM) Could Be 32% Undervalued On Its Warehouse Automation Narrative
• Negative Sentiment: Recent insider sales from multiple directors may be read as a lack of near-term confidence, adding to pressure on the shares. Symbotic NASDAQ: SYM Director Sells 2,000 Shares

Symbotic Company Profile

Symbotic Inc NASDAQ: SYM is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.