Symbotic Inc. (NASDAQ:SYM) Director Sells $47,920.00 in Stock

by · The Cerbat Gem

Symbotic Inc. (NASDAQ:SYM – Get Free Report) Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $23.96, for a total transaction of $47,920.00. Following the completion of the sale, the director now owns 2,000 shares in the company, valued at approximately $47,920. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

  • On Tuesday, September 3rd, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $18.75, for a total transaction of $37,500.00.
  • On Monday, August 5th, Todd Krasnow sold 17,000 shares of Symbotic stock. The stock was sold at an average price of $21.46, for a total transaction of $364,820.00.

Symbotic Stock Performance

NASDAQ:SYM opened at $23.84 on Friday. Symbotic Inc. has a 12 month low of $17.11 and a 12 month high of $59.82. The company’s 50-day moving average price is $22.63 and its two-hundred day moving average price is $34.24.

Symbotic (NASDAQ:SYM – Get Free Report) last announced its earnings results on Monday, July 29th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.04). Symbotic had a positive return on equity of 4.08% and a negative net margin of 1.03%. The business had revenue of $491.86 million during the quarter, compared to analyst estimates of $464.56 million. During the same period in the previous year, the firm earned ($0.07) earnings per share. The firm’s revenue was up 57.7% compared to the same quarter last year. As a group, analysts forecast that Symbotic Inc. will post -0.08 EPS for the current fiscal year.

Institutional Trading of Symbotic

Several large investors have recently made changes to their positions in the business. Wells Fargo & Company MN lifted its position in Symbotic by 170.4% during the 4th quarter. Wells Fargo & Company MN now owns 171,585 shares of the company’s stock worth $8,807,000 after buying an additional 108,126 shares in the last quarter. US Bancorp DE lifted its position in shares of Symbotic by 434.6% during the fourth quarter. US Bancorp DE now owns 13,344 shares of the company’s stock worth $685,000 after purchasing an additional 10,848 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Symbotic by 201.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 17,274 shares of the company’s stock worth $887,000 after purchasing an additional 11,550 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Symbotic by 44.0% in the fourth quarter. First Trust Advisors LP now owns 510,237 shares of the company’s stock valued at $26,190,000 after purchasing an additional 155,828 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in shares of Symbotic by 189.5% in the fourth quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company’s stock valued at $54,174,000 after purchasing an additional 690,900 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SYM. Cantor Fitzgerald restated an “overweight” rating and set a $60.00 price target on shares of Symbotic in a research note on Tuesday, July 30th. Craig Hallum lowered their price objective on Symbotic from $54.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their target price on Symbotic from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Citigroup lowered their price target on shares of Symbotic from $62.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Finally, TD Cowen reduced their price objective on shares of Symbotic from $55.00 to $43.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Symbotic has a consensus rating of “Moderate Buy” and an average price target of $43.23.

Check Out Our Latest Report on Symbotic

About Symbotic

(Get Free Report)

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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