Insider Selling: Symbotic (NASDAQ:SYM) Director Sells $284,000.00 in Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 4,000 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $71.00, for a total value of $284,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, November 4th, Todd Krasnow sold 4,000 shares of Symbotic stock. The shares were sold at an average price of $76.75, for a total value of $307,000.00.
• On Monday, October 6th, Todd Krasnow sold 4,000 shares of Symbotic stock. The shares were sold at an average price of $67.02, for a total value of $268,080.00.

Symbotic Price Performance

NASDAQ SYM opened at $59.70 on Monday. The firm has a market capitalization of $35.31 billion, a price-to-earnings ratio of -398.00, a price-to-earnings-growth ratio of 16.94 and a beta of 2.10. The company has a 50 day simple moving average of $68.08 and a 200-day simple moving average of $52.84. Symbotic Inc. has a 52-week low of $16.32 and a 52-week high of $87.88.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Monday, November 24th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.11). Symbotic had a negative net margin of 0.75% and a negative return on equity of 3.89%. The company had revenue of $618.46 million during the quarter, compared to analyst estimates of $604.00 million. During the same quarter in the prior year, the company posted $0.47 EPS. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, analysts predict that Symbotic Inc. will post 0.13 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SYM. MAI Capital Management lifted its holdings in Symbotic by 833.3% in the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock worth $30,000 after purchasing an additional 500 shares during the last quarter. AdvisorNet Financial Inc bought a new position in shares of Symbotic in the second quarter valued at approximately $32,000. IAG Wealth Partners LLC acquired a new stake in shares of Symbotic in the second quarter worth $32,000. Ameriflex Group Inc. boosted its holdings in shares of Symbotic by 1,500.0% during the 3rd quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock worth $38,000 after buying an additional 660 shares during the period. Finally, Gables Capital Management Inc. acquired a new position in Symbotic in the 2nd quarter valued at $39,000.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SYM. Northland Securities increased their price objective on Symbotic from $56.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, November 25th. Needham & Company LLC upped their target price on Symbotic from $57.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. DA Davidson reaffirmed a “neutral” rating and set a $47.00 price target on shares of Symbotic in a research note on Tuesday, November 25th. Wall Street Zen upgraded Symbotic from a “sell” rating to a “hold” rating in a report on Sunday, November 30th. Finally, Oppenheimer restated an “outperform” rating and issued a $83.00 price objective on shares of Symbotic in a report on Tuesday, November 25th. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $56.50.

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.