Symbotic Inc. (NASDAQ:SYM) Insider Sells $125,383.46 in Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 5,266 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $23.81, for a total transaction of $125,383.46. Following the completion of the transaction, the insider now owns 85,224 shares in the company, valued at $2,029,183.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, July 24th, Michael David Dunn sold 1,895 shares of Symbotic stock. The stock was sold at an average price of $36.56, for a total transaction of $69,281.20.
• 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 transaction of $80,000.00.

Symbotic Stock Performance

SYM stock opened at $23.84 on Friday. The firm has a 50 day moving average price of $22.63 and a 200-day moving average price of $34.17. Symbotic Inc. has a 52-week low of $17.11 and a 52-week high of $59.82. The firm has a market capitalization of $13.96 billion, a price-to-earnings ratio of -99.33 and a beta of 1.84.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Monday, July 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Symbotic had a negative net margin of 1.03% and a positive return on equity of 4.08%. The company had revenue of $491.86 million for the quarter, compared to analysts’ expectations of $464.56 million. During the same quarter in the previous year, the firm posted ($0.07) EPS. The firm’s quarterly revenue was up 57.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Symbotic Inc. will post -0.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

SYM has been the topic of several recent analyst reports. KeyCorp cut their target price on Symbotic from $55.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Needham & Company LLC decreased their target price on Symbotic from $54.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Northland Securities cut their price target on shares of Symbotic from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $60.00 price objective on shares of Symbotic in a report on Tuesday, July 30th. Finally, The Goldman Sachs Group cut their target price on shares of Symbotic from $40.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.23.

Hedge Funds Weigh In On Symbotic

A number of hedge funds have recently bought and sold shares of SYM. RiverPark Advisors LLC purchased a new position in Symbotic in the first quarter worth about $37,000. RFP Financial Group LLC raised its holdings in Symbotic by 21.2% in the 1st quarter. RFP Financial Group LLC now owns 1,382 shares of the company’s stock worth $62,000 after acquiring an additional 242 shares during the last quarter. Quarry LP purchased a new position in Symbotic in the 2nd quarter worth approximately $65,000. Natixis Investment Managers International bought a new position in Symbotic in the 1st quarter valued at approximately $90,000. Finally, Sandia Investment Management LP purchased a new stake in Symbotic during the 1st quarter valued at $112,000.

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.