Key Points
- Symbotic director Todd Krasnow sold 2,000 shares at an average price of $43.57, generating $87,140 in proceeds. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan and follows two similar 2,000-share sales in July and August.
- SYM opened at $41.10, well below its 52-week high of $87.88, with a market capitalization of $24.86 billion and a highly elevated P/E ratio of 456.67.
- Analyst sentiment is mixed: the stock has a consensus “Hold” rating and a $65.42 price target, while recent targets range from $38 at Barclays to $75 at Needham. Symbotic’s latest quarter showed 21.7% year-over-year revenue growth but missed consensus EPS estimates.
Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $43.57, for a total transaction of $87,140.00. The sale was disclosed in a legal filing with the SEC, which is available at 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 Monday, August 3rd, Todd Krasnow sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $45.27, for a total transaction of $90,540.00.
- On Monday, July 6th, Todd Krasnow sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $43.92, for a total transaction of $87,840.00.
Symbotic Stock Performance
SYM stock opened at $41.10 on Friday. The company has a 50 day moving average price of $41.91 and a two-hundred day moving average price of $47.78. The stock has a market capitalization of $24.86 billion, a P/E ratio of 456.67, a PEG ratio of 6.77 and a beta of 1.94. Symbotic Inc. has a one year low of $37.68 and a one year high of $87.88.
Symbotic (NASDAQ:SYM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.04). The business had revenue of $720.84 million for the quarter, compared to analysts' expectations of $715.03 million. Symbotic had a return on equity of 1.40% and a net margin of 0.48%.The company's revenue for the quarter was up 21.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.05) EPS. Research analysts forecast that Symbotic Inc. will post 0.21 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on SYM shares. Barclays dropped their price objective on shares of Symbotic from $44.00 to $38.00 and set an "underweight" rating for the company in a research note on Tuesday. Zacks Research upgraded shares of Symbotic from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 5th. Weiss Ratings downgraded shares of Symbotic from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, September 4th. Needham & Company LLC reaffirmed a "buy" rating and set a $75.00 price target on shares of Symbotic in a research note on Thursday, August 6th. Finally, Robert W. Baird set a $51.00 price target on shares of Symbotic in a report on Thursday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $65.42.
Check Out Our Latest Research Report on SYM
Institutional Trading of Symbotic
A number of institutional investors have recently modified their holdings of SYM. Federation des caisses Desjardins du Quebec boosted its position in Symbotic by 5.2% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 4,493 shares of the company's stock valued at $267,000 after purchasing an additional 224 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Symbotic by 2.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 11,375 shares of the company's stock valued at $677,000 after acquiring an additional 236 shares during the period. Parallel Advisors LLC increased its holdings in shares of Symbotic by 67.3% during the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company's stock valued at $37,000 after purchasing an additional 249 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in shares of Symbotic by 4.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,753 shares of the company's stock valued at $342,000 after purchasing an additional 266 shares during the period. Finally, Parkside Financial Bank & Trust raised its stake in shares of Symbotic by 100.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 536 shares of the company's stock valued at $32,000 after purchasing an additional 268 shares in the last quarter.
Symbotic Company Profile
(
Get Free Report)
Symbotic Inc is an automation technology company that develops artificial intelligence-enabled robotics and software for large-scale warehouses and distribution centers. Its systems are designed to automate the movement, storage and retrieval of pallets and cases, helping customers manage inventory and improve the efficiency of supply-chain operations.
The company's platform combines robotics, machine learning, warehouse-control software and automated storage systems. Symbotic's technology can receive goods, organize inventory, retrieve products and assemble orders for shipment, supporting distribution operations for retail and grocery companies.
Symbotic was founded in 2006 and is headquartered in Wilmington, Massachusetts.
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