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

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 shares were sold at an average price of $30.00, for a total value of $59,130.00. Following the transaction, the insider now directly 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 can be accessed through this link.

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 stock was 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 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 stock was sold at an average price of $30.08, for a total value of $1,921,119.36.

Symbotic Stock Down 0.5 %

NASDAQ SYM traded down $0.14 on Monday, reaching $29.21. The company had a trading volume of 1,793,218 shares, compared to its average volume of 2,445,803. The stock has a market capitalization of $17.16 billion, a P/E ratio of -486.83, a P/E/G ratio of 7.29 and a beta of 1.79. The company’s fifty day moving average is $27.27 and its 200 day moving average is $26.92. Symbotic Inc. has a 52-week low of $17.11 and a 52-week high of $52.20.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SYM. UBS Group cut their price objective on Symbotic from $40.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. TD Cowen boosted their price target on Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $60.00 price objective on shares of Symbotic in a research note on Thursday, January 23rd. William Blair reissued a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th. Finally, Citigroup reaffirmed a “buy” rating and set a $37.00 price target on shares of Symbotic in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $38.73.

Institutional Trading of Symbotic

A number of hedge funds have recently made changes to their positions in the stock. Castleview Partners LLC lifted its position in shares of Symbotic by 50.0% in the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after purchasing an additional 500 shares during the period. Arcadia Investment Management Corp MI bought a new position in Symbotic during the 3rd quarter valued at approximately $49,000. RiverPark Advisors LLC raised its position in shares of Symbotic by 147.1% in the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after purchasing an additional 1,211 shares during the last quarter. Quest Partners LLC lifted its stake in shares of Symbotic by 19,307.7% in the third quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock worth $62,000 after buying an additional 2,510 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Symbotic by 28.4% in the third quarter. Van ECK Associates Corp now owns 3,497 shares of the company’s stock worth $85,000 after purchasing an additional 774 shares during 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.