Insider Selling: Symbotic Inc. (NASDAQ:SYM) Insider Sells 5,365 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 5,365 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $24.60, for a total transaction of $131,979.00. Following the completion of the sale, the insider now owns 31,860 shares of the company’s stock, valued at approximately $783,756. The trade was a 14.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Michael David Dunn also recently made the following trade(s):

• On Monday, December 9th, Michael David Dunn sold 63,867 shares of Symbotic stock. The stock was sold at an average price of $30.08, for a total transaction of $1,921,119.36.
• On Thursday, October 24th, Michael David Dunn sold 1,715 shares of Symbotic stock. The stock was sold at an average price of $28.77, for a total transaction of $49,340.55.

Symbotic Price Performance

NASDAQ:SYM opened at $25.64 on Friday. Symbotic Inc. has a 1 year low of $17.11 and a 1 year high of $52.20. The stock’s fifty day moving average price is $28.58 and its two-hundred day moving average price is $28.03. The company has a market cap of $15.06 billion, a P/E ratio of -427.33 and a beta of 1.73.

Symbotic (NASDAQ:SYM) last issued its earnings results on Monday, November 18th. The company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. The business had revenue of $576.77 million during the quarter, compared to the consensus estimate of $470.24 million. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The firm’s revenue was up 47.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.08) EPS. On average, analysts expect that Symbotic Inc. will post 0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Symbotic

Several hedge funds have recently bought and sold shares of SYM. Canada Pension Plan Investment Board boosted its holdings in Symbotic by 191.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock valued at $27,281,000 after purchasing an additional 509,700 shares during the period. Geode Capital Management LLC raised its position in shares of Symbotic by 10.2% in the third quarter. Geode Capital Management LLC now owns 503,758 shares of the company’s stock worth $12,290,000 after buying an additional 46,721 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Symbotic during the third quarter valued at $1,029,000. Baillie Gifford & Co. grew its position in Symbotic by 32.0% during the third quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock worth $343,192,000 after buying an additional 3,410,050 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Symbotic by 10.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 219,074 shares of the company’s stock worth $5,343,000 after acquiring an additional 20,469 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SYM. The Goldman Sachs Group decreased their price target on Symbotic from $34.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, December 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $60.00 target price on shares of Symbotic in a research report on Tuesday, November 19th. BWS Financial reissued a “sell” rating and issued a $10.00 price target on shares of Symbotic in a report on Tuesday, November 19th. Needham & Company LLC decreased their price objective on shares of Symbotic from $46.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Finally, DA Davidson cut shares of Symbotic from a “buy” rating to a “neutral” rating and dropped their target price for the company from $50.00 to $35.00 in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Symbotic has an average rating of “Hold” and an average target price of $41.79.

Symbotic Company Profile

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.