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

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $27.32, for a total value of $54,640.00. Following the transaction, the director now directly owns 194,036 shares in the company, valued at $5,301,063.52. The trade was a 1.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, February 10th, Todd Krasnow sold 10,447 shares of Symbotic stock. The stock was sold at an average price of $27.05, for a total transaction 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 Stock Performance

Shares of SYM opened at $26.09 on Friday. The firm has a market cap of $15.35 billion, a PE ratio of -372.66, a price-to-earnings-growth ratio of 6.64 and a beta of 1.79. Symbotic Inc. has a 52-week low of $17.11 and a 52-week high of $50.40. The business’s 50 day moving average price is $27.27 and its two-hundred day moving average price is $26.44.

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

Institutional Trading of Symbotic

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Symbotic by 10.2% in the 3rd quarter. Geode Capital Management LLC now owns 503,758 shares of the company’s stock worth $12,290,000 after purchasing an additional 46,721 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Symbotic during the third quarter valued at approximately $1,029,000. Capital Market Strategies LLC purchased a new stake in Symbotic in the 4th quarter valued at $802,000. Baillie Gifford & Co. grew its stake in shares of Symbotic by 32.0% in the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock worth $343,192,000 after acquiring an additional 3,410,050 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Symbotic by 10.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 219,074 shares of the company’s stock valued at $5,343,000 after purchasing an additional 20,469 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SYM shares. TD Cowen lifted 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. DA Davidson raised Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Wednesday, January 8th. Needham & Company LLC cut their target price on Symbotic from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. William Blair restated a “market perform” rating on shares of Symbotic in a research report on Thursday, December 5th. Finally, Citigroup reaffirmed a “buy” rating and issued a $37.00 price target on shares of Symbotic in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.33.

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.