Symbotic Inc. (NASDAQ:SYM) Insider Michael David Dunn Sells 1,971 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 1,971 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $30.00, for a total transaction of $59,130.00. Following the completion of the transaction, the insider now owns 22,301 shares in the company, valued at $669,030. This represents a 8.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, January 24th, Michael David Dunn sold 3,635 shares of Symbotic stock. The shares were sold at an average price of $33.28, for a total value of $120,972.80.
• 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 shares were sold at an average price of $24.60, for a total transaction 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 Trading Down 0.5 %

Shares of NASDAQ SYM opened at $29.21 on Tuesday. The stock has a market cap of $17.16 billion, a price-to-earnings ratio of -486.83, a PEG ratio of 7.29 and a beta of 1.79. Symbotic Inc. has a 12 month low of $17.11 and a 12 month high of $52.20. The company has a 50 day simple moving average of $27.27 and a two-hundred day simple moving average of $26.92.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Monday, November 18th. The company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. The company had revenue of $576.77 million for the quarter, compared to analyst estimates of $470.24 million. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. The firm’s revenue was up 47.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.08) earnings per share. Analysts forecast that Symbotic Inc. will post 0.13 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on SYM. Craig Hallum lowered Symbotic from a “buy” rating to a “hold” rating and set a $25.00 target price for the company. in a report on Wednesday, November 27th. TD Cowen raised 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. UBS Group reduced their target price on shares of Symbotic from $40.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Oppenheimer initiated coverage on shares of Symbotic in a report on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 price target on the stock. Finally, BWS Financial reiterated a “sell” rating and set a $10.00 price objective on shares of Symbotic in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.73.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Baillie Gifford & Co. increased its holdings in shares of Symbotic by 32.0% during the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock valued at $343,192,000 after purchasing an additional 3,410,050 shares in the last quarter. Thematics Asset Management increased its stake in shares of Symbotic by 30.1% in the 3rd quarter. Thematics Asset Management now owns 1,048,170 shares of the company’s stock valued at $25,565,000 after purchasing an additional 242,661 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in Symbotic by 76.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 873,987 shares of the company’s stock worth $21,317,000 after purchasing an additional 379,726 shares during the period. Geode Capital Management LLC boosted its position in Symbotic by 10.2% during the third quarter. Geode Capital Management LLC now owns 503,758 shares of the company’s stock worth $12,290,000 after purchasing an additional 46,721 shares in the last quarter. Finally, TCW Group Inc. grew its holdings in Symbotic by 0.8% in the third quarter. TCW Group Inc. now owns 384,274 shares of the company’s stock valued at $9,372,000 after purchasing an additional 3,075 shares during the period.

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.