Insider Selling: Symbotic (NASDAQ:SYM) Director Sells $94,600.00 in Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $47.30, for a total transaction of $94,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, May 22nd, Todd Krasnow sold 19,655 shares of Symbotic stock. The stock was sold at an average price of $53.73, for a total transaction of $1,056,063.15.
• On Friday, May 22nd, Todd Krasnow sold 6,978 shares of Symbotic stock. The stock was sold at an average price of $52.12, for a total transaction of $363,693.36.
• On Monday, May 11th, Todd Krasnow sold 25,422 shares of Symbotic stock. The stock was sold at an average price of $52.45, for a total transaction of $1,333,383.90.
• On Monday, May 4th, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $57.61, for a total transaction of $115,220.00.
• On Monday, April 6th, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $53.27, for a total transaction of $106,540.00.
• On Monday, March 9th, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $47.70, for a total transaction of $95,400.00.

Symbotic Stock Performance

SYM opened at $44.02 on Friday. The company’s 50 day simple moving average is $53.78 and its 200 day simple moving average is $57.67. Symbotic Inc. has a 1 year low of $27.26 and a 1 year high of $87.88. The stock has a market capitalization of $26.53 billion, a PE ratio of -880.22, a P/E/G ratio of 6.99 and a beta of 1.91.

Symbotic (NASDAQ:SYM) last released its earnings results on Wednesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.11). Symbotic had a negative return on equity of 0.68% and a negative net margin of 0.20%.The company had revenue of $676.48 million during the quarter, compared to analyst estimates of $662.66 million. During the same period in the prior year, the business posted ($0.04) earnings per share. Symbotic’s revenue was up 23.1% on a year-over-year basis. As a group, sell-side analysts expect that Symbotic Inc. will post 0.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SYM. Vanguard Group Inc. lifted its position in shares of Symbotic by 47.6% during the fourth quarter. Vanguard Group Inc. now owns 6,932,158 shares of the company’s stock worth $412,463,000 after purchasing an additional 2,237,137 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Symbotic by 51,346.1% during the fourth quarter. JPMorgan Chase & Co. now owns 2,174,372 shares of the company’s stock worth $129,375,000 after purchasing an additional 2,178,615 shares in the last quarter. Morgan Stanley lifted its position in shares of Symbotic by 85.4% during the fourth quarter. Morgan Stanley now owns 2,530,874 shares of the company’s stock worth $150,587,000 after purchasing an additional 1,165,513 shares in the last quarter. Ghisallo Capital Management LLC acquired a new position in shares of Symbotic during the fourth quarter worth $63,034,000. Finally, Marshall Wace LLP acquired a new position in shares of Symbotic during the fourth quarter worth $33,997,000.

Wall Street Analyst Weigh In

SYM has been the topic of a number of recent research reports. Barclays lifted their price target on shares of Symbotic from $42.00 to $44.00 and gave the company an “underweight” rating in a research report on Monday, March 16th. The Goldman Sachs Group reduced their price target on shares of Symbotic from $54.00 to $45.00 and set a “sell” rating on the stock in a research report on Tuesday, May 26th. Wall Street Zen cut shares of Symbotic from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. DA Davidson reaffirmed a “buy” rating and set a $70.00 price target on shares of Symbotic in a research report on Monday, May 11th. Finally, UBS Group set a $70.00 price target on shares of Symbotic in a research report on Wednesday, February 18th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $65.23.

About Symbotic

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.