Insider Selling: Symbotic Inc. (NASDAQ:SYM) Director Sells $54,640.00 in Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the 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 completion of the transaction, the director now directly owns 194,036 shares of the company’s stock, valued at $5,301,063.52. This trade represents a 1.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 value of $282,591.35.
• On Thursday, January 2nd, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $24.04, for a total transaction of $48,080.00.

Symbotic Stock Down 6.2 %

Shares of NASDAQ SYM opened at $24.47 on Friday. Symbotic Inc. has a 12 month low of $17.11 and a 12 month high of $50.40. The company has a market cap of $14.40 billion, a price-to-earnings ratio of -349.52, a P/E/G ratio of 6.48 and a beta of 1.79. The business has a fifty day simple moving average of $27.22 and a 200-day simple moving average of $26.45.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results 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 negative net margin of 0.38% and a positive return on equity of 5.11%. As a group, sell-side analysts expect that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. The Goldman Sachs Group lowered their target price on shares of Symbotic from $28.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. Oppenheimer started coverage on shares of Symbotic in a research note on Wednesday, January 15th. They set an “outperform” rating and a $35.00 price objective on the stock. BWS Financial restated a “sell” rating and issued a $10.00 target price on shares of Symbotic in a research report on Tuesday, January 21st. KeyCorp reiterated a “sector weight” rating on shares of Symbotic in a research report on Wednesday, November 27th. Finally, Craig Hallum downgraded Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a research note on Wednesday, November 27th. 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $38.33.

Institutional Investors Weigh In On Symbotic

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its holdings in shares of Symbotic by 10.2% during the 3rd quarter. Geode Capital Management LLC now owns 503,758 shares of the company’s stock valued at $12,290,000 after acquiring an additional 46,721 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Symbotic during the third quarter valued at $1,029,000. Capital Market Strategies LLC purchased a new position in Symbotic in the fourth quarter valued at about $802,000. Baillie Gifford & Co. increased its position in 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 purchasing an additional 3,410,050 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Symbotic by 10.3% during the 3rd 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 in the last quarter.

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.