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Todd Krasnow, a director at Symbotic Inc. (NASDAQ:SYM), recently sold 2,000 shares of Class A Common Stock, according to a Form 4 filing with the Securities and Exchange Commission. The shares were sold on April 4 at prices ranging from $17.39 to $17.555, with an average price of $17.51, amounting to a total transaction value of $35,020. The transaction comes as Symbotic's stock has declined nearly 59% over the past year, though InvestingPro analysis indicates the stock is currently undervalued with positive growth prospects ahead.
This transaction was executed under a trading plan established on February 26, 2024, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. Following the sale, Krasnow holds no shares of Class A Common Stock directly through Inlet View, Inc., where he serves as President and CEO. The company, currently valued at $10.46 billion, maintains strong financial health with more cash than debt on its balance sheet, and analysts expect both revenue and net income growth this year. For deeper insights into insider trading patterns and comprehensive financial analysis, consider accessing the detailed Pro Research Report available on InvestingPro.
In addition to the sale, Krasnow's holdings include 4060 shares of Class A Common Stock directly and 50,000 shares indirectly through trusts. He also holds 194,036 shares of Class V-1 Common Stock directly and 180,000 shares indirectly through his spouse. The Class V-1 shares have no economic rights but provide voting rights, with each share granting one vote. While the stock has shown high price volatility recently, the company's revenue grew by 44% in the last twelve months, demonstrating strong operational execution despite market challenges.
In other recent news, Symbotic Inc. reported its first-quarter financial results for fiscal year 2025, with revenues of $486.7 million, which fell short of the consensus estimate of $494.03 million. The company also provided second-quarter revenue guidance of $510-530 million, below the expected $533.3 million, prompting Raymond (NSE:RYMD) James to downgrade the stock from Outperform to Market Perform. Despite the downgrade, Oppenheimer maintained an Outperform rating with a $35 price target, citing strong gross margin improvements and potential software revenue growth. DA Davidson also reaffirmed a Buy rating with a $35 target, highlighting Symbotic's technological advancements and significant backlog. Needham adjusted its price target to $32 from $35 but maintained a Buy rating, noting that the company's adjusted EBITDA surpassed expectations.
Symbotic's recent financial performance included a year-over-year revenue increase of over 35%, though it did not meet all analyst projections. The company is also anticipating the completion of its acquisition of Walmart (NYSE:WMT)'s Advanced Systems and Robotics business this quarter, a move expected to challenge its execution capabilities. Analysts have noted the importance of Symbotic's system deployments and the company's ability to execute against its backlog for future growth. Symbotic's financial position remains robust, with over $900 million in cash and a debt-free balance sheet. The company's ongoing developments and analyst ratings reflect both the challenges and opportunities it faces in the coming quarters.
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