Insider Selling: Symbotic Inc. (NASDAQ:SYM) Director Sells 4,060 Shares of Stock

Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Todd Krasnow sold 4,060 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $26.40, for a total value of $107,184.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 Friday, April 4th, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $17.51, for a total value of $35,020.00.
• On Tuesday, February 18th, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $27.32, for a total value of $54,640.00.

Symbotic Price Performance

Shares of NASDAQ SYM traded down $0.09 on Tuesday, hitting $28.21. The company's stock had a trading volume of 98,184 shares, compared to its average volume of 1,912,269. Symbotic Inc. has a 12-month low of $16.32 and a 12-month high of $44.08. The company has a market capitalization of $16.60 billion, a price-to-earnings ratio of -402.66, a price-to-earnings-growth ratio of 6.48 and a beta of 1.85. The stock has a 50 day moving average of $21.94 and a 200-day moving average of $25.63.

Symbotic (NASDAQ:SYM - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.09). Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. The business had revenue of $549.65 million during the quarter, compared to analysts' expectations of $522.36 million. During the same period in the prior year, the business posted ($0.07) EPS. The business's revenue was up 39.7% on a year-over-year basis. Sell-side analysts expect that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SYM. GAMMA Investing LLC raised its position 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 worth $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 in the 1st quarter worth approximately $31,000. IFP Advisors Inc raised its holdings in shares of Symbotic by 58.2% in the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock worth $32,000 after purchasing an additional 503 shares in the last quarter. Private Trust Co. NA bought a new stake in shares of Symbotic in the 4th quarter worth approximately $47,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Symbotic in the 4th quarter worth approximately $47,000.

Analyst Ratings Changes

A number of analysts recently commented on SYM shares. Needham & Company LLC decreased their price target on Symbotic from $35.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Raymond James cut Symbotic from an "outperform" rating to a "market perform" rating in a report on Thursday, February 6th. Cantor Fitzgerald reissued an "overweight" rating and issued a $60.00 target price on shares of Symbotic in a research report on Thursday, February 6th. UBS Group dropped their price target on Symbotic from $32.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Finally, The Goldman Sachs Group lowered their price objective on Symbotic from $25.00 to $18.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Symbotic has an average rating of "Hold" and a consensus target price of $37.20.

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.