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Todd Krasnow, a director at Symbotic Inc. (NASDAQ:SYM), has recently sold 2,000 shares of the company's Class A common stock. The transaction, which took place on January 2, 2025, was executed at an average price of $24.0419 per share, resulting in a total sale value of approximately $48,083. The sale occurred as the stock shows significant volatility, with a 12.6% gain in the past week despite a 25% decline over the last six months. According to InvestingPro analysis, the stock currently appears undervalued.
This stock sale was part of a pre-arranged trading plan that Krasnow entered into on February 26, 2024, under Rule 10b5-1 of the Securities Exchange Act. The transaction involved the redemption of 2,000 Symbotic Holdings Units, which were exchanged for an equal number of Class A shares. Following the sale, Krasnow, through Inlet View, Inc., no longer holds these shares directly. InvestingPro subscribers can access 12 additional key insights about Symbotic's financial health and market position through the comprehensive Pro Research Report.
In addition to the recent sale, Krasnow also holds other securities in Symbotic Inc., including indirect ownership of 50,000 shares of Class A common stock through trusts, and 180,000 Class V-1 common stock shares through his spouse and a family trust. These Class V-1 shares do not carry economic rights but provide voting power within the company. The company has demonstrated strong revenue growth of 52% over the last twelve months, with analysts expecting continued profitability this year.
In other recent news, Symbotic Inc. has experienced significant developments. TD Cowen has adjusted its price target for Symbotic down to $45 from $50, while maintaining a Buy rating. This adjustment follows the company's recent financial restatements, which led to changes in analysts' projections. Despite these adjustments, Symbotic has shown impressive revenue growth, with a nearly 55% increase in the last twelve months.
KeyBanc Capital Markets downgraded Symbotic's stock from 'Overweight' to 'Sector Weight' due to additional accounting errors, which led to revisions in the company's financial projections for fiscal year 2024 and Q1 of fiscal year 2025. Despite these revisions, TD Cowen, Deutsche Bank (ETR:DBKGn), and KeyBanc all increased their price targets for Symbotic, maintaining positive ratings on the stock.
DA Davidson also downgraded Symbotic shares from 'Buy' to 'Neutral' and revised the price target to $35 in response to these financial errors. However, despite the downgrade, the firm acknowledged Symbotic's strong earnings and revenue results, with a 55% year-over-year increase in Q4 revenue, reaching $577 million, and ending the fiscal year with a total revenue of $1.8 billion.
In addition to these analyst adjustments, Symbotic has commenced construction on a second GreenBox facility in Georgia and announced a partnership with Walmart (NYSE:WMT) Mexico, projected to add approximately $400 million to the company's backlog. The company also anticipates a 40% year-over-year increase for the first quarter of 2025, bolstered by the acquisition of Veo Robotics. These recent developments are crucial for investors to consider.
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