Symbotic (NASDAQ:SYM) Director Sells $94,600.00 in Stock

Key Points

• Symbotic director Todd Krasnow sold 2,000 shares on June 1 at an average price of $47.30, totaling $94,600. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Krasnow has been actively selling shares recently, including several larger transactions in May and earlier months, according to the filing history cited in the article.
• Symbotic’s latest results were mixed: revenue beat estimates and rose 23.1% year over year, but EPS missed expectations. Analysts currently have a consensus rating of “Hold” with an average target price of $65.23.

Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Todd Krasnow sold 2,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $47.30, for a total value of $94,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, May 22nd, Todd Krasnow sold 19,655 shares of Symbotic stock. The shares were sold at an average price of $53.73, for a total value 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 value of $363,693.36.
• On Monday, May 11th, Todd Krasnow sold 25,422 shares of Symbotic stock. The shares were sold at an average price of $52.45, for a total value of $1,333,383.90.
• On Monday, May 4th, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $57.61, for a total value of $115,220.00.
• On Monday, April 6th, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $53.27, for a total value of $106,540.00.
• On Monday, March 9th, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $47.70, for a total transaction of $95,400.00.

Symbotic Price Performance

Shares of SYM traded down $1.88 during mid-day trading on Wednesday, hitting $47.21. The stock had a trading volume of 2,860,794 shares, compared to its average volume of 2,719,620. The firm has a market cap of $28.45 billion, a P/E ratio of -944.01, a PEG ratio of 7.24 and a beta of 1.91. The business has a fifty day moving average price of $54.08 and a 200-day moving average price of $57.84. Symbotic Inc. has a 52 week low of $27.26 and a 52 week high of $87.88.

Symbotic (NASDAQ:SYM - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.11). The firm had revenue of $676.48 million during the quarter, compared to the consensus estimate of $662.66 million. Symbotic had a negative net margin of 0.20% and a negative return on equity of 0.68%. The business's quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. As a group, research analysts expect that Symbotic Inc. will post 0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Symbotic

Several hedge funds and other institutional investors have recently modified their holdings of SYM. Vanguard Group Inc. increased its position in shares of Symbotic by 47.6% during the fourth quarter. Vanguard Group Inc. now owns 6,932,158 shares of the company's stock valued at $412,463,000 after buying an additional 2,237,137 shares during the period. JPMorgan Chase & Co. grew its holdings in Symbotic by 51,346.1% in the fourth quarter. JPMorgan Chase & Co. now owns 2,174,372 shares of the company's stock worth $129,375,000 after purchasing an additional 2,178,615 shares during the period. Morgan Stanley grew its holdings in Symbotic by 85.4% in the fourth quarter. Morgan Stanley now owns 2,530,874 shares of the company's stock worth $150,587,000 after purchasing an additional 1,165,513 shares during the period. Ghisallo Capital Management LLC purchased a new stake in shares of Symbotic during the fourth quarter valued at approximately $63,034,000. Finally, Marshall Wace LLP purchased a new stake in shares of Symbotic during the fourth quarter valued at approximately $33,997,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Citigroup reissued an "outperform" rating on shares of Symbotic in a report on Thursday, February 5th. Weiss Ratings downgraded shares of Symbotic from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, May 11th. DA Davidson reaffirmed a "buy" rating and set a $70.00 price objective on shares of Symbotic in a report on Monday, May 11th. Northland Securities set a $73.00 price objective on shares of Symbotic in a report on Thursday, February 5th. Finally, Wall Street Zen downgraded shares of Symbotic from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, Symbotic presently has an average rating of "Hold" and an average target price of $65.23.

About Symbotic

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.

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