Symbotic (NASDAQ:SYM) Director Todd Krasnow Sells 19,655 Shares

Key Points

• Symbotic director Todd Krasnow sold 19,655 shares on May 22 at an average price of $53.73, totaling about $1.06 million. After the transaction, he still held 177,036 shares.
• Krasnow has been actively reducing his stake in recent weeks, including additional sales on May 22, May 11, May 4, April 6, and March 9.
• Symbotic reported mixed quarterly results: revenue beat expectations at $676.48 million, but EPS came in below estimates at $0.01 versus $0.12 expected. Analysts currently have an average rating of Hold with a $65.23 target price.

Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Todd Krasnow sold 19,655 shares of the company's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $53.73, for a total transaction of $1,056,063.15. Following the sale, the director directly owned 177,036 shares in the company, valued at $9,512,144.28. This trade represents a 9.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• 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 shares were 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 shares were sold at an average price of $57.61, for a total transaction 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 transaction of $106,540.00.
• On Monday, March 9th, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $47.70, for a total transaction of $95,400.00.

Symbotic Price Performance

Shares of SYM stock traded up $0.76 on Wednesday, reaching $53.63. 1,723,745 shares of the company were exchanged, compared to its average volume of 1,742,421. The company has a market cap of $32.32 billion, a price-to-earnings ratio of -1,072.39, a PEG ratio of 7.97 and a beta of 2.03. The company has a 50-day moving average of $54.36 and a 200-day moving average of $58.59. Symbotic Inc. has a one year low of $27.26 and a one year high of $87.88.

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

Institutional Investors Weigh In On Symbotic

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Centerpoint Advisors LLC raised its holdings in shares of Symbotic by 16.7% in the 3rd quarter. Centerpoint Advisors LLC now owns 1,400 shares of the company's stock worth $75,000 after acquiring an additional 200 shares during the last quarter. Federation des caisses Desjardins du Quebec raised its holdings in shares of Symbotic by 5.2% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 4,493 shares of the company's stock worth $267,000 after acquiring an additional 224 shares during the last quarter. Barton Investment Management raised its holdings in shares of Symbotic by 0.8% in the 4th quarter. Barton Investment Management now owns 30,658 shares of the company's stock worth $1,824,000 after acquiring an additional 233 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Symbotic by 2.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 11,375 shares of the company's stock worth $677,000 after acquiring an additional 236 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of Symbotic by 67.3% in the 4th quarter. Parallel Advisors LLC now owns 619 shares of the company's stock worth $37,000 after acquiring an additional 249 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. UBS Group set a $70.00 price objective on shares of Symbotic in a research report on Wednesday, February 18th. Citigroup reissued an "outperform" rating on shares of Symbotic in a research report on Thursday, February 5th. Needham & Company LLC increased their price objective on shares of Symbotic from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, February 5th. DA Davidson reissued a "buy" rating and set a $70.00 price objective on shares of Symbotic in a research report on Monday, May 11th. Finally, Northland Securities set a $73.00 price objective on shares of Symbotic in a research report on Thursday, February 5th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock currently 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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