Todd Krasnow Sells 4,000 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Key Points

• Director Todd Krasnow sold 4,000 shares of Symbotic Inc. at an average price of $55.15, totaling $220,600, which reduced his ownership by 2.07%.
• Symbotic's latest earnings showed a loss of ($0.05) earnings per share, missing estimates, despite a 25.9% year-over-year revenue increase.
• Analysts have downgraded Symbotic's stock with several price targets, leading to an average target of $39.87 and an average rating of "Hold."

Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Todd Krasnow sold 4,000 shares of Symbotic stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $55.15, for a total value of $220,600.00. Following the sale, the director owned 189,036 shares in the company, valued at $10,425,335.40. This represents a 2.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 shares were 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 value of $122,520.00.
• On Tuesday, May 13th, Todd Krasnow sold 5,940 shares of Symbotic stock. The shares were sold at an average price of $26.38, for a total value of $156,697.20.
• On Tuesday, May 13th, Todd Krasnow sold 4,060 shares of Symbotic stock. The shares were sold at an average price of $26.40, for a total value of $107,184.00.

Symbotic Price Performance

NASDAQ:SYM traded down $0.31 on Wednesday, reaching $62.90. 2,931,596 shares of the company's stock were exchanged, compared to its average volume of 2,565,258. The firm has a market cap of $37.09 billion, a price-to-earnings ratio of -1,572.50, a P/E/G ratio of 65.84 and a beta of 2.06. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $64.16. The stock has a fifty day simple moving average of $41.42 and a 200-day simple moving average of $30.25.

Symbotic (NASDAQ:SYM - Get Free Report) last announced 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 0.23% and a negative return on equity of 1.26%. Symbotic's revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.02) earnings per share. As a group, sell-side analysts predict that Symbotic Inc. will post 0.13 EPS for the current year.

Analysts Set New Price Targets

SYM has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft cut Symbotic from a "buy" rating to a "hold" rating and set a $51.00 price objective for the company. in a research note on Friday, July 18th. The Goldman Sachs Group decreased their target price on shares of Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Arete lowered shares of Symbotic from a "buy" rating to a "neutral" rating and set a $50.00 price objective for the company. in a research report on Friday, July 25th. Arete Research lowered Symbotic from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Finally, Citigroup reissued a "buy" rating on shares of Symbotic in a research note on Monday, July 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $39.87.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in shares of Symbotic by 1,812.2% during the 1st quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock valued at $29,000 after buying an additional 1,341 shares in the last quarter. Ulland Investment Advisors LLC bought a new stake in shares of Symbotic during the 1st quarter valued at $31,000. AdvisorNet Financial Inc bought a new stake in shares of Symbotic during the 2nd quarter valued at $32,000. Gables Capital Management Inc. bought a new stake in shares of Symbotic during the 2nd quarter valued at $39,000. Finally, CWM LLC raised its position in shares of Symbotic by 408.2% in the 1st quarter. CWM LLC now owns 2,602 shares of the company's stock worth $53,000 after purchasing an additional 2,090 shares during 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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