Todd Krasnow Sells 10,447 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 10,447 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $27.05, for a total value of $282,591.35. Following the sale, the director now owns 194,036 shares in the company, valued at approximately $5,248,673.80. This represents a 5.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 transaction of $48,080.00.

Symbotic Trading Down 4.8 %

Shares of NASDAQ:SYM opened at $27.72 on Friday. The stock’s 50-day moving average price is $27.32 and its 200-day moving average price is $26.45. Symbotic Inc. has a 12-month low of $17.11 and a 12-month high of $50.40. The stock has a market capitalization of $16.28 billion, a P/E ratio of -395.94, a price-to-earnings-growth ratio of 6.45 and a beta of 1.79.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. As a group, research analysts predict that Symbotic Inc. will post 0.13 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SYM shares. Northland Securities upped their price target on shares of Symbotic from $35.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. TD Cowen upped their price target on shares of Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $60.00 price target on shares of Symbotic in a report on Thursday, February 6th. Needham & Company LLC decreased their price target on shares of Symbotic from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Finally, Oppenheimer started coverage on shares of Symbotic in a report on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 price target on the stock. One equities research 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $38.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC boosted its holdings in shares of Symbotic by 10.2% during the third 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 during the period. Sanctuary Advisors LLC purchased a new stake in shares of Symbotic during the third quarter worth about $1,029,000. Capital Market Strategies LLC purchased a new stake in shares of Symbotic during the fourth quarter worth about $802,000. Baillie Gifford & Co. boosted its holdings in shares of Symbotic by 32.0% during the third quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock worth $343,192,000 after purchasing an additional 3,410,050 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Symbotic by 10.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 219,074 shares of the company’s stock worth $5,343,000 after purchasing an additional 20,469 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.