Michael David Dunn Sells 5,365 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

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

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 shares were 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 Trading Up 3.8 %

Shares of SYM stock opened at $25.64 on Monday. Symbotic Inc. has a 12 month low of $17.11 and a 12 month high of $52.20. The stock has a market capitalization of $15.06 billion, a P/E ratio of -427.33 and a beta of 1.73. The firm’s 50 day moving average is $28.58 and its 200 day moving average is $27.98.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Monday, November 18th. The company reported $0.05 EPS for the quarter, hitting 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 during the quarter, compared to analyst estimates of $470.24 million. During the same period last year, the company earned ($0.08) earnings per share. The business’s revenue for the quarter was up 47.2% on a year-over-year basis. On average, equities analysts predict that Symbotic Inc. will post 0.12 EPS for the current year.

Analyst Ratings Changes

SYM has been the topic of several recent analyst reports. UBS Group dropped their target price on shares of Symbotic from $40.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday. BWS Financial reiterated a “sell” rating and set a $10.00 price target on shares of Symbotic in a report on Tuesday, November 19th. Craig Hallum downgraded Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a research note on Wednesday, November 27th. TD Cowen lifted their target price on Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $60.00 price target on shares of Symbotic in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Symbotic presently has a consensus rating of “Hold” and a consensus price target of $41.79.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. 1ST Source Bank purchased a new stake in shares of Symbotic in the third quarter worth about $488,000. Sanctuary Advisors LLC purchased a new stake in Symbotic in the 3rd quarter worth approximately $1,029,000. Barclays PLC boosted its holdings in Symbotic by 1,105.9% in the 3rd quarter. Barclays PLC now owns 9,346 shares of the company’s stock valued at $228,000 after purchasing an additional 8,571 shares during the period. TCW Group Inc. boosted its holdings in Symbotic by 0.8% in the 3rd 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. Finally, Sunbelt Securities Inc. grew its position in shares of Symbotic by 161.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 13,330 shares of the company’s stock valued at $325,000 after purchasing an additional 8,235 shares in the last quarter.

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.