Key Points
- Symbotic director Todd Krasnow sold 25,422 shares on May 11 at an average price of $52.45, totaling about $1.33 million. After the sale, he still held 182,036 shares, a 12.25% reduction in his ownership.
- The stock has been under pressure, opening at $49.73 and trading below both its 50-day and 200-day moving averages. Shares were down 3.1% in the session referenced.
- Symbotic’s latest earnings were mixed: revenue topped expectations at $676.48 million, but EPS of $0.01 missed estimates of $0.12. Analysts currently have a consensus rating of Hold with an average price target of $65.62.
Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Todd Krasnow sold 25,422 shares of the company's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $52.45, for a total transaction of $1,333,383.90. Following the completion of the transaction, the director owned 182,036 shares of the company's stock, valued at $9,547,788.20. This trade represents a 12.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Todd Krasnow also recently made the following trade(s):
- 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 shares were 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 shares were sold at an average price of $47.70, for a total transaction of $95,400.00.
Symbotic Stock Down 3.1%
NASDAQ SYM opened at $49.73 on Thursday. The company has a 50-day simple moving average of $54.49 and a two-hundred day simple moving average of $60.15. Symbotic Inc. has a 12-month low of $26.03 and a 12-month high of $87.88. The firm has a market cap of $29.95 billion, a price-to-earnings ratio of -994.40, a PEG ratio of 5.14 and a beta of 2.03.
Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly 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 net margin of 0.20% and a negative return on equity of 0.68%. The business had revenue of $676.48 million for the quarter, compared to analysts' expectations of $662.66 million. During the same quarter in the previous year, the company earned ($0.04) earnings per share. The business's quarterly revenue was up 23.1% on a year-over-year basis. Equities analysts expect that Symbotic Inc. will post 0.33 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Symbotic
Institutional investors have recently bought and sold shares of the stock. Parkside Financial Bank & Trust raised its stake in Symbotic by 100.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 536 shares of the company's stock worth $32,000 after buying an additional 268 shares in the last quarter. MAI Capital Management raised its stake in Symbotic by 833.3% in the third quarter. MAI Capital Management now owns 560 shares of the company's stock worth $30,000 after buying an additional 500 shares in the last quarter. Quarry LP bought a new position in Symbotic in the fourth quarter worth about $36,000. Parallel Advisors LLC raised its stake in Symbotic by 67.3% in the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company's stock worth $37,000 after buying an additional 249 shares in the last quarter. Finally, Ameriflex Group Inc. raised its stake in Symbotic by 1,500.0% in the third quarter. Ameriflex Group Inc. now owns 704 shares of the company's stock worth $38,000 after buying an additional 660 shares in the last quarter.
Wall Street Analyst Weigh In
Several research firms have issued reports on SYM. The Goldman Sachs Group restated a "sell" rating and set a $50.00 price target on shares of Symbotic in a research report on Thursday, January 15th. Needham & Company LLC upped their price target on shares of Symbotic from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. Barclays upped 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. Zacks Research upgraded shares of Symbotic from a "strong sell" rating to a "hold" rating in a research report on Wednesday, February 18th. Finally, UBS Group set a $70.00 price target on shares of Symbotic in a research report on Wednesday, February 18th. Seven 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $65.62.
Check Out Our Latest Research Report on SYM
About Symbotic
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
