Insider Selling: Symbotic Inc. (NASDAQ:SYM) Director Sells 2,000 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction on Friday, April 5th. The shares were sold at an average price of $42.20, for a total value of $84,400.00. Following the sale, the director now directly owns 10,447 shares of the company’s stock, valued at $440,863.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Friday, March 1st, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $39.39, for a total value of $78,780.00.
• On Monday, February 5th, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $51.50, for a total transaction of $103,000.00.

Symbotic Price Performance

Shares of SYM stock opened at $44.85 on Friday. Symbotic Inc. has a fifty-two week low of $22.40 and a fifty-two week high of $64.14. The stock’s 50-day simple moving average is $44.05 and its 200-day simple moving average is $43.65.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings results on Monday, February 5th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. The company had revenue of $368.45 million for the quarter, compared to the consensus estimate of $370.28 million. Symbotic had a negative net margin of 1.39% and a negative return on equity of 35.06%. As a group, equities analysts predict that Symbotic Inc. will post -0.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SYM. Quadrature Capital Ltd acquired a new stake in Symbotic in the 4th quarter worth about $1,669,000. PNC Financial Services Group Inc. grew its holdings in shares of Symbotic by 7.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the company’s stock worth $597,000 after buying an additional 800 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Symbotic by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 2,081,034 shares of the company’s stock valued at $106,819,000 after buying an additional 40,699 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Symbotic by 2.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 369,026 shares of the company’s stock valued at $18,944,000 after acquiring an additional 8,058 shares during the last quarter. Finally, Voloridge Investment Management LLC increased its holdings in shares of Symbotic by 19.1% in the fourth quarter. Voloridge Investment Management LLC now owns 882,734 shares of the company’s stock valued at $45,311,000 after purchasing an additional 141,333 shares during the last quarter.

Analysts Set New Price Targets

SYM has been the subject of several research reports. Northland Securities upped their price target on shares of Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday. The Goldman Sachs Group reduced their price objective on shares of Symbotic from $51.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a research note on Tuesday, February 6th. William Blair reaffirmed a “market perform” rating on shares of Symbotic in a research report on Tuesday, February 6th. Finally, Robert W. Baird lowered their price objective on Symbotic from $54.00 to $52.00 and set an “outperform” rating for the company in a research report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.00.

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.