Insider Selling: Symbotic Inc. (NASDAQ:SYM) Director Sells 10,447 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) Director Todd Krasnow sold 10,447 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $27.05, for a total transaction of $282,591.35. Following the transaction, the director now directly owns 194,036 shares in the company, valued at $5,248,673.80. This trade 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 hyperlink.

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 0.1 %

SYM stock traded down $0.03 during midday trading on Wednesday, reaching $29.11. 1,436,370 shares of the company’s stock traded hands, compared to its average volume of 2,632,215. The stock’s 50-day moving average is $27.26 and its 200 day moving average is $26.44. The stock has a market cap of $17.10 billion, a P/E ratio of -415.80, a PEG ratio of 6.45 and a beta of 1.79. Symbotic Inc. has a 52-week low of $17.11 and a 52-week high of $50.40.

Symbotic (NASDAQ:SYM) last issued its earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, topping 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, research analysts expect that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SYM. Baillie Gifford & Co. boosted its stake 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 in the last quarter. Vanguard Group Inc. lifted its stake in Symbotic by 41.3% during the 4th quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company’s stock valued at $117,846,000 after acquiring an additional 1,452,627 shares during the period. Thematics Asset Management lifted its stake in Symbotic by 30.1% during the 3rd quarter. Thematics Asset Management now owns 1,048,170 shares of the company’s stock valued at $25,565,000 after acquiring an additional 242,661 shares during the period. Raymond James Financial Inc. acquired a new stake in Symbotic during the 4th quarter valued at approximately $20,754,000. Finally, TCW Group Inc. lifted its stake in Symbotic by 51.7% during the 4th quarter. TCW Group Inc. now owns 582,955 shares of the company’s stock valued at $13,822,000 after acquiring an additional 198,681 shares during the period.

Wall Street Analysts Forecast Growth

SYM has been the subject of several research analyst reports. DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Wednesday, January 8th. Oppenheimer began coverage on shares of Symbotic in a report on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 price target for the company. KeyCorp reissued a “sector weight” rating on shares of Symbotic in a report on Wednesday, November 27th. UBS Group decreased their target price on shares of Symbotic from $40.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Finally, TD Cowen boosted their price objective on shares of Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Symbotic presently has an average rating of “Hold” and an average price target of $38.33.

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.