Symbotic Inc. (NASDAQ:SYM) Director Sells $48,080.00 in Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $24.04, for a total value of $48,080.00. Following the sale, the director now directly owns 214,036 shares of the company’s stock, valued at approximately $5,145,425.44. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Monday, November 4th, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $28.15, for a total transaction of $56,300.00.

Symbotic Stock Performance

Shares of NASDAQ:SYM opened at $26.45 on Thursday. The company has a 50-day simple moving average of $28.40 and a 200 day simple moving average of $27.83. The company has a market capitalization of $15.54 billion, a P/E ratio of -440.83 and a beta of 1.76. Symbotic Inc. has a 52-week low of $17.11 and a 52-week high of $52.20.

Symbotic (NASDAQ:SYM) last issued its earnings results on Monday, November 18th. The company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The company had revenue of $576.77 million during the quarter, compared to the consensus estimate of $470.24 million. During the same period in the previous year, the company posted ($0.08) EPS. The firm’s revenue for the quarter was up 47.2% compared to the same quarter last year. As a group, equities analysts forecast that Symbotic Inc. will post 0.12 earnings per share for the current year.

Hedge Funds Weigh In On Symbotic

Several large investors have recently modified their holdings of SYM. Baillie Gifford & Co. grew its stake in Symbotic by 32.0% in the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock valued at $343,192,000 after buying an additional 3,410,050 shares during the last quarter. Thematics Asset Management grew its position in shares of Symbotic by 30.1% in the third quarter. Thematics Asset Management now owns 1,048,170 shares of the company’s stock valued at $25,565,000 after purchasing an additional 242,661 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Symbotic by 76.8% during the third quarter. Exchange Traded Concepts LLC now owns 873,987 shares of the company’s stock worth $21,317,000 after purchasing an additional 379,726 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Symbotic by 191.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock worth $27,281,000 after purchasing an additional 509,700 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Symbotic by 10.2% in the 3rd quarter. Geode Capital Management LLC now owns 503,758 shares of the company’s stock valued at $12,290,000 after purchasing an additional 46,721 shares during the period.

Analyst Upgrades and Downgrades

SYM has been the topic of several research reports. Needham & Company LLC cut their price objective on shares of Symbotic from $46.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Craig Hallum downgraded Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a report on Wednesday, November 27th. Northland Securities boosted their target price on Symbotic from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. KeyCorp reaffirmed a “sector weight” rating on shares of Symbotic in a research note on Wednesday, November 27th. Finally, The Goldman Sachs Group cut their price objective on shares of Symbotic from $34.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Symbotic presently has an average rating of “Hold” and an average price target of $40.71.

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.