Symbotic (NASDAQ:SYM) Director Todd Krasnow Sells 4,000 Shares

Key Points

• Director Todd Krasnow sold 4,000 shares of Symbotic at an average price of $45.64, totaling $182,560, on September 3rd.
• Symbotic's stock price increased to $48.25 on Friday, with a market capitalization of $28.49 billion and a 1-year high of $64.16.
• Symbotic reported a loss of ($0.05) earnings per share in its latest earnings report, missing analysts' expectations, despite a revenue increase of 25.9% year-over-year.

Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Todd Krasnow sold 4,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $45.64, for a total value of $182,560.00. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Wednesday, August 13th, Todd Krasnow sold 30,000 shares of Symbotic stock. The stock was sold at an average price of $51.54, for a total value of $1,546,200.00.
• 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 value of $220,600.00.
• On Monday, July 7th, Todd Krasnow sold 4,000 shares of Symbotic stock. The stock was sold at an average price of $46.48, for a total value 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 value of $118,600.00.

Symbotic Price Performance

NASDAQ:SYM traded up $3.03 during trading hours on Friday, reaching $48.25. 1,833,651 shares of the company were exchanged, compared to its average volume of 1,683,164. The company has a market capitalization of $28.49 billion, a P/E ratio of -689.19 and a beta of 2.05. Symbotic Inc. has a 1-year low of $16.32 and a 1-year high of $64.16. The business has a 50 day moving average of $49.74 and a 200 day moving average of $33.43.

Symbotic (NASDAQ:SYM - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.05) earnings per share 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 business had revenue of $592.12 million during the quarter, compared to analyst estimates of $533.55 million. During the same period in the prior year, the business posted ($0.02) EPS. The company's revenue for the quarter was up 25.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wall Street Zen downgraded Symbotic from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. DA Davidson reissued a "neutral" rating and set a $47.00 price objective (up previously from $35.00) on shares of Symbotic in a report on Monday, August 25th. Northland Securities raised their price objective on Symbotic from $35.00 to $56.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft downgraded Symbotic from a "buy" rating to a "hold" rating and set a $51.00 price objective on the stock. in a report on Friday, July 18th. Finally, Arete downgraded Symbotic from a "buy" rating to a "neutral" rating and set a $50.00 price objective on the stock. in a report on Friday, July 25th. Six research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $43.44.

Institutional Investors Weigh In On Symbotic

Several institutional investors and hedge funds have recently made changes to their positions in SYM. Tower Research Capital LLC TRC increased its stake in shares of Symbotic by 40.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,566 shares of the company's stock valued at $85,000 after buying an additional 1,018 shares during the period. Northern Trust Corp lifted its stake in shares of Symbotic by 23.7% in the 4th quarter. Northern Trust Corp now owns 110,148 shares of the company's stock valued at $2,612,000 after purchasing an additional 21,077 shares during the period. Bayesian Capital Management LP acquired a new position in shares of Symbotic in the 4th quarter valued at about $218,000. Bridgefront Capital LLC acquired a new position in shares of Symbotic in the 4th quarter valued at about $238,000. Finally, Cetera Investment Advisers lifted its stake in shares of Symbotic by 5.7% in the 4th quarter. Cetera Investment Advisers now owns 24,621 shares of the company's stock valued at $584,000 after purchasing an additional 1,332 shares during the period.

Symbotic Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.