Michael David Dunn Sells 3,635 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 3,635 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $33.28, for a total value of $120,972.80. Following the completion of the sale, the insider now owns 24,272 shares of the company’s stock, valued at $807,772.16. This trade represents a 13.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, January 16th, Michael David Dunn sold 13,114 shares of Symbotic stock. The shares were sold at an average price of $32.19, for a total value of $422,139.66.
• On Friday, January 3rd, Michael David Dunn sold 5,365 shares of Symbotic stock. The stock was sold at an average price of $24.60, for a total value of $131,979.00.
• On Monday, December 9th, Michael David Dunn sold 63,867 shares of Symbotic stock. The shares were sold at an average price of $30.08, for a total transaction of $1,921,119.36.

Symbotic Stock Down 1.0 %

Symbotic stock opened at $29.26 on Thursday. Symbotic Inc. has a 12 month low of $17.11 and a 12 month high of $52.20. The stock has a market cap of $17.19 billion, a P/E ratio of -487.67, a P/E/G ratio of 8.26 and a beta of 1.76. The company’s fifty day simple moving average is $27.73 and its 200-day simple moving average is $27.15.

Symbotic (NASDAQ:SYM) last issued its earnings results on Monday, November 18th. The company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The firm had revenue of $576.77 million for the quarter, compared to the consensus estimate of $470.24 million. During the same quarter in the previous year, the company posted ($0.08) earnings per share. The business’s quarterly revenue was up 47.2% compared to the same quarter last year. On average, equities research analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on SYM shares. William Blair reissued a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th. TD Cowen increased their price objective on Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Oppenheimer assumed coverage on Symbotic in a report on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $35.00 target price on shares of Symbotic in a report on Friday, January 17th. Finally, Citigroup reissued a “buy” rating and issued a $37.00 price target on shares of Symbotic in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Symbotic currently has an average rating of “Moderate Buy” and a consensus target price of $38.73.

Hedge Funds Weigh In On Symbotic

A number of hedge funds have recently added to or reduced their stakes in SYM. Castleview Partners LLC lifted its position in shares of Symbotic by 50.0% in the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after buying an additional 500 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Symbotic by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 8,655 shares of the company’s stock worth $304,000 after purchasing an additional 679 shares during the period. Van ECK Associates Corp grew its holdings in Symbotic by 28.4% during the third quarter. Van ECK Associates Corp now owns 3,497 shares of the company’s stock valued at $85,000 after purchasing an additional 774 shares during the last quarter. National Bank of Canada FI raised its position in shares of Symbotic by 36.8% in the third quarter. National Bank of Canada FI now owns 3,557 shares of the company’s stock valued at $87,000 after purchasing an additional 957 shares during the period. Finally, RiverPark Advisors LLC lifted its stake in shares of Symbotic by 147.1% in the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after buying an additional 1,211 shares during the last quarter.

About Symbotic

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.