Insider Selling: Symbotic Inc. (NASDAQ:SYM) Insider Sells 1,895 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 1,895 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $36.56, for a total value of $69,281.20. Following the sale, the insider now directly owns 77,326 shares of the company’s stock, valued at $2,827,038.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Monday, July 15th, Michael David Dunn sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $40.00, for a total value of $80,000.00.
• On Tuesday, July 2nd, Michael David Dunn sold 5,188 shares of Symbotic stock. The shares were sold at an average price of $35.49, for a total value of $184,122.12.
• On Wednesday, May 22nd, Michael David Dunn sold 1,200 shares of Symbotic stock. The shares were sold at an average price of $44.02, for a total value of $52,824.00.
• On Wednesday, May 1st, Michael David Dunn sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $40.00, for a total value of $80,000.00.

Symbotic Price Performance

Symbotic stock traded up $1.65 during trading hours on Thursday, reaching $37.84. The company had a trading volume of 1,548,848 shares, compared to its average volume of 1,362,547. The company has a 50-day moving average price of $38.00 and a 200 day moving average price of $41.41. The firm has a market cap of $22.12 billion, a price-to-earnings ratio of -153.20 and a beta of 1.87. Symbotic Inc. has a 12-month low of $29.62 and a 12-month high of $64.14.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.25. The firm had revenue of $424.30 million for the quarter, compared to analyst estimates of $415.98 million. Symbotic had a positive return on equity of 5.27% and a negative net margin of 1.27%. As a group, research analysts expect that Symbotic Inc. will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Symbotic

Large investors have recently made changes to their positions in the business. Blair William & Co. IL grew its position in shares of Symbotic by 418.1% in the 1st quarter. Blair William & Co. IL now owns 33,365 shares of the company’s stock worth $1,501,000 after buying an additional 26,925 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Symbotic during the fourth quarter valued at approximately $1,669,000. Seven Eight Capital LP bought a new stake in shares of Symbotic during the fourth quarter valued at approximately $2,568,000. Dynamic Technology Lab Private Ltd bought a new stake in Symbotic in the fourth quarter worth $2,302,000. Finally, BOCHK Asset Management Ltd bought a new stake in Symbotic in the fourth quarter worth $3,208,000.

Analyst Ratings Changes

SYM has been the subject of several research reports. Needham & Company LLC reiterated a “buy” rating and set a $54.00 price target on shares of Symbotic in a research note on Tuesday, May 7th. Robert W. Baird increased their price target on Symbotic from $52.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. William Blair reiterated a “market perform” rating on shares of Symbotic in a research note on Friday, May 10th. BWS Financial initiated coverage on Symbotic in a research note on Monday. They set a “sell” rating and a $10.00 price target for the company. Finally, The Goldman Sachs Group cut their price target on Symbotic from $46.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.50.

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.