Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow Sells 2,000 Shares

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $24.04, for a total value of $48,080.00. Following the transaction, the director now owns 214,036 shares in the company, valued at $5,145,425.44. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Monday, November 4th, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $28.15, for a total value of $56,300.00.

Symbotic Price Performance

SYM stock traded up $1.06 during trading on Monday, reaching $26.70. The company had a trading volume of 2,371,506 shares, compared to its average volume of 1,611,011. Symbotic Inc. has a 52 week low of $17.11 and a 52 week high of $52.20. The business has a 50 day moving average of $28.58 and a 200 day moving average of $27.94. The company has a market cap of $15.68 billion, a P/E ratio of -445.00 and a beta of 1.73.

Symbotic (NASDAQ:SYM) last released its earnings results on Monday, November 18th. The company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. The company had revenue of $576.77 million during the quarter, compared to analysts’ expectations of $470.24 million. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The firm’s revenue for the quarter was up 47.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.08) EPS. Research analysts expect that Symbotic Inc. will post 0.12 earnings per share for the current year.

Hedge Funds Weigh In On Symbotic

A number of institutional investors and hedge funds have recently made changes to their positions in SYM. Baillie Gifford & Co. grew its position in Symbotic by 32.0% during the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock valued at $343,192,000 after purchasing an additional 3,410,050 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Symbotic by 191.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock worth $27,281,000 after acquiring an additional 509,700 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in Symbotic by 76.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 873,987 shares of the company’s stock worth $21,317,000 after acquiring an additional 379,726 shares during the last quarter. Millennium Management LLC boosted its stake in Symbotic by 6,694.5% during the 2nd quarter. Millennium Management LLC now owns 335,649 shares of the company’s stock valued at $11,801,000 after purchasing an additional 330,709 shares during the last quarter. Finally, Thematics Asset Management increased its holdings in shares of Symbotic by 30.1% in the 3rd quarter. Thematics Asset Management now owns 1,048,170 shares of the company’s stock worth $25,565,000 after purchasing an additional 242,661 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. William Blair restated a “market perform” rating on shares of Symbotic in a report on Thursday, December 5th. TD Cowen upped their price target on shares of Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Craig Hallum downgraded Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a report on Wednesday, November 27th. Needham & Company LLC dropped their target price on Symbotic from $46.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Finally, The Goldman Sachs Group decreased their price target on Symbotic from $34.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $41.79.

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.