Insider Selling: Symbotic Inc. (NASDAQ:SYM) Director Sells 2,000 Shares of Stock

Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Todd Krasnow sold 2,000 shares of the stock in a transaction on Friday, April 4th. The shares were sold at an average price of $17.51, for a total value of $35,020.00. Following the completion of the sale, the director now owns 194,036 shares of the company's stock, valued at $3,397,570.36. The trade was a 1.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, February 18th, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $27.32, for a total transaction of $54,640.00.
• 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 transaction of $282,591.35.

Symbotic Stock Performance

Shares of NASDAQ:SYM traded up $0.61 during trading on Friday, hitting $20.63. 916,396 shares of the stock were exchanged, compared to its average volume of 1,938,464. Symbotic Inc. has a 1-year low of $16.32 and a 1-year high of $48.98. The company has a market capitalization of $12.14 billion, a price-to-earnings ratio of -294.67, a price-to-earnings-growth ratio of 6.48 and a beta of 1.86. The company's fifty day simple moving average is $22.93 and its 200-day simple moving average is $26.38.

Remove Ads

Symbotic (NASDAQ:SYM - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, beating 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%. On average, research analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SYM shares. Citigroup restated a "buy" rating and set a $37.00 price target on shares of Symbotic in a report on Monday, January 13th. Raymond James downgraded Symbotic from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 6th. BWS Financial reissued a "sell" rating and issued a $10.00 price target on shares of Symbotic in a research note on Wednesday, April 2nd. The Goldman Sachs Group dropped their price objective on Symbotic from $25.00 to $18.00 and set a "neutral" rating on the stock in a report on Thursday. Finally, Northland Securities boosted their target price on shares of Symbotic from $35.00 to $41.00 and gave the stock an "outperform" rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $37.73.

Institutional Trading of Symbotic

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in Symbotic by 1,812.2% in the 1st quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock valued at $29,000 after purchasing an additional 1,341 shares during the last quarter. IFP Advisors Inc grew its holdings in 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 acquiring an additional 503 shares during the period. Private Trust Co. NA acquired a new position in Symbotic in the fourth quarter valued at about $47,000. Pilgrim Partners Asia Pte Ltd bought a new position in Symbotic during the fourth quarter worth about $47,000. Finally, Jones Financial Companies Lllp grew its position in shares of Symbotic by 154.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company's stock worth $58,000 after buying an additional 1,490 shares during the period.

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.