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 firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.75, for a total value of $37,500.00. Following the completion of the transaction, the director now owns 214,036 shares of the company’s stock, valued at $4,013,175. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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.
• On Tuesday, July 2nd, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $35.49, for a total transaction of $70,980.00.

Symbotic Stock Down 0.1 %

Shares of Symbotic stock opened at $17.99 on Friday. Symbotic Inc. has a twelve month low of $17.11 and a twelve month high of $59.82. The firm’s 50-day moving average price is $28.54 and its 200 day moving average price is $36.93.

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

Institutional Trading of Symbotic

A number of hedge funds and other institutional investors have recently modified their holdings of SYM. Quarry LP purchased a new stake in shares of Symbotic in the 2nd quarter valued at approximately $65,000. Sunbelt Securities Inc. lifted its holdings in Symbotic by 2,215.9% in the second quarter. Sunbelt Securities Inc. now owns 5,095 shares of the company’s stock valued at $179,000 after acquiring an additional 4,875 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Symbotic by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 8,655 shares of the company’s stock worth $304,000 after acquiring an additional 679 shares during the period. Millennium Management LLC increased its stake in Symbotic by 6,694.5% during the second quarter. Millennium Management LLC now owns 335,649 shares of the company’s stock worth $11,801,000 after acquiring an additional 330,709 shares during the last quarter. Finally, Marathon Capital Management raised its position in Symbotic by 8.0% in the second quarter. Marathon Capital Management now owns 42,055 shares of the company’s stock valued at $1,479,000 after purchasing an additional 3,115 shares during the period.

Analyst Upgrades and Downgrades

SYM has been the subject of a number of research reports. Citigroup decreased their target price on shares of Symbotic from $62.00 to $49.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Northland Securities dropped their price objective on shares of Symbotic from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. TD Cowen cut their target price 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. Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 price target on shares of Symbotic in a report on Tuesday, July 30th. Finally, William Blair reiterated a “market perform” rating on shares of Symbotic in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.23.

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.