Key Points
- Director Todd Krasnow sold 4,000 shares of Symbotic on Dec. 3 at an average price of $71.00 for proceeds of $284,000, continuing a pattern of insider sales (also 4,000 shares in Nov. and Oct.).
- Symbotic missed EPS expectations this quarter (reported -$0.03 vs. $0.08 expected) while beating revenue at $618.46M (up 9.5% year-over-year), and remains unprofitable with negative net margin and ROE.
- Analyst sentiment is mixed — consensus rating is "Hold" with an average price target of $56.07 (below the recent $59.70 open) — and the company carries a large market cap (~$35.3B) and a negative PE.
Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Todd Krasnow sold 4,000 shares of Symbotic stock in a transaction on Wednesday, December 3rd. The shares were 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 at this hyperlink.
Todd Krasnow also recently made the following trade(s):
- On Tuesday, November 4th, Todd Krasnow sold 4,000 shares of Symbotic stock. The stock was 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 stock was sold at an average price of $67.02, for a total value of $268,080.00.
Symbotic Stock Down 1.3%
SYM stock opened at $59.70 on Friday. The stock has a 50-day simple moving average of $68.08 and a two-hundred day simple moving average of $52.49. Symbotic Inc. has a twelve month low of $16.32 and a twelve month high of $87.88. The firm has a market capitalization of $35.31 billion, a PE ratio of -398.00, a PEG ratio of 17.16 and a beta of 2.10.
Symbotic (NASDAQ:SYM - Get Free Report) last released its quarterly earnings data on Monday, November 24th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.11). The firm had revenue of $618.46 million during the quarter, compared to the consensus estimate of $604.00 million. Symbotic had a negative net margin of 0.75% and a negative return on equity of 3.89%. Symbotic's revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 earnings per share. On average, equities research analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on SYM shares. Citigroup boosted their price target on shares of Symbotic from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on Symbotic from $55.00 to $63.00 and gave the company a "hold" rating in a research note on Tuesday, November 25th. Robert W. Baird upped their target price on Symbotic from $55.00 to $58.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 26th. The Goldman Sachs Group downgraded Symbotic from a "neutral" rating to a "sell" rating and set a $47.00 price target for the company. in a research report on Tuesday. Finally, Barclays boosted their price objective on Symbotic from $38.00 to $41.00 and gave the stock an "underweight" rating in a report on Wednesday, November 26th. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Symbotic has an average rating of "Hold" and a consensus price target of $56.07.
View Our Latest Stock Analysis on Symbotic
Hedge Funds Weigh In On Symbotic
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. increased its position in shares of Symbotic by 19.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 22,118 shares of the company's stock valued at $447,000 after purchasing an additional 3,576 shares during the last quarter. Cetera Investment Advisers boosted its stake in Symbotic by 150.5% in the first quarter. Cetera Investment Advisers now owns 61,674 shares of the company's stock worth $1,246,000 after buying an additional 37,053 shares in the last quarter. LPL Financial LLC grew its position in Symbotic by 58.8% during the first quarter. LPL Financial LLC now owns 68,531 shares of the company's stock valued at $1,385,000 after acquiring an additional 25,364 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Symbotic during the first quarter worth approximately $324,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Symbotic by 54.8% during the first quarter. PNC Financial Services Group Inc. now owns 5,932 shares of the company's stock worth $120,000 after acquiring an additional 2,100 shares in the last quarter.
Symbotic Company Profile
(
Get Free Report)
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.
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