Symbotic Inc. (NASDAQ:SYM) Insider Sells $45,369.60 in Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 2,040 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $22.24, for a total transaction of $45,369.60. Following the transaction, the insider now directly owns 23,822 shares in the company, valued at $529,801.28. The trade was a 7.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, January 30th, Michael David Dunn sold 1,971 shares of Symbotic stock. The stock was sold at an average price of $30.00, for a total value of $59,130.00.
• 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 stock was 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 transaction of $131,979.00.

Symbotic Trading Down 17.2 %

NASDAQ:SYM traded down $3.79 during mid-day trading on Thursday, hitting $18.24. The company’s stock had a trading volume of 3,162,571 shares, compared to its average volume of 1,899,002. The company has a market capitalization of $10.73 billion, a price-to-earnings ratio of -260.53, a P/E/G ratio of 6.48 and a beta of 1.85. Symbotic Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $48.98. The stock has a fifty day moving average of $24.86 and a 200-day moving average of $26.70.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. On average, equities analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Trading of Symbotic

Several hedge funds have recently modified their holdings of the stock. IFP Advisors Inc boosted its position in Symbotic by 58.2% in the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock valued at $32,000 after buying an additional 503 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in Symbotic during the 4th quarter valued at about $47,000. Private Trust Co. NA bought a new position in shares of Symbotic in the 4th quarter valued at about $47,000. Jones Financial Companies Lllp grew its position in shares of Symbotic by 154.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company’s stock worth $58,000 after buying an additional 1,490 shares during the period. Finally, Quarry LP raised its stake in shares of Symbotic by 89.9% during the third quarter. Quarry LP now owns 3,508 shares of the company’s stock worth $86,000 after buying an additional 1,661 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. DA Davidson raised shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Wednesday, January 8th. Northland Securities increased their target price on Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. William Blair reissued a “market perform” rating on shares of Symbotic in a research report on Thursday, December 5th. BWS Financial restated a “sell” rating and issued a $10.00 price objective on shares of Symbotic in a research note on Wednesday. Finally, UBS Group cut their target price on shares of Symbotic from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $38.20.

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.