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

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $27.32, for a total transaction of $54,640.00. Following the transaction, the director now directly owns 194,036 shares in the company, valued at approximately $5,301,063.52. The trade was a 1.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, February 10th, Todd Krasnow sold 10,447 shares of Symbotic stock. The shares were sold at an average price of $27.05, for a total value of $282,591.35.
• On Thursday, January 2nd, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $24.04, for a total value of $48,080.00.

Symbotic Price Performance

NASDAQ SYM opened at $26.09 on Friday. The stock’s 50-day moving average is $27.27 and its 200-day moving average is $26.44. Symbotic Inc. has a one year low of $17.11 and a one year high of $50.40. The firm has a market cap of $15.35 billion, a P/E ratio of -372.66, a P/E/G ratio of 6.64 and a beta of 1.79.

Symbotic (NASDAQ:SYM) last announced its earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. Equities analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SYM. William Blair reaffirmed a “market perform” rating on shares of Symbotic in a research report on Thursday, December 5th. Citigroup reiterated a “buy” rating and issued a $37.00 price objective on shares of Symbotic in a research note on Monday, January 13th. TD Cowen increased their target price on Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Northland Securities upped their price target on Symbotic from $35.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Finally, Raymond James downgraded Symbotic from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 6th. One equities research 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. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $38.33.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. IFP Advisors Inc raised its stake in shares of Symbotic by 58.2% during 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 acquired a new position in Symbotic during the fourth quarter worth $47,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Symbotic during the fourth quarter worth $47,000. Arcadia Investment Management Corp MI acquired a new stake in Symbotic in the third quarter valued at $49,000. Finally, RiverPark Advisors LLC grew its position in shares of Symbotic by 147.1% in the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock valued at $50,000 after acquiring an additional 1,211 shares during the period.

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.