Michael David Dunn Sells 13,114 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 13,114 shares of Symbotic stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $32.19, for a total transaction of $422,139.66. Following the sale, the insider now owns 18,746 shares of the company’s stock, valued at approximately $603,433.74. This represents a 41.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 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 value of $49,340.55.

Symbotic Stock Down 0.4 %

NASDAQ SYM opened at $33.29 on Thursday. Symbotic Inc. has a 12-month low of $17.11 and a 12-month high of $52.20. The firm’s 50 day moving average is $27.84 and its 200-day moving average is $27.38. The company has a market capitalization of $19.56 billion, a PE ratio of -554.83, a price-to-earnings-growth ratio of 6.88 and a beta of 1.76.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings results on Monday, November 18th. The company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. The firm had revenue of $576.77 million for the quarter, compared to analysts’ expectations of $470.24 million. During the same period in the previous year, the firm posted ($0.08) EPS. The company’s revenue for the quarter was up 47.2% on a year-over-year basis. As a group, sell-side analysts expect that Symbotic Inc. will post 0.14 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Citigroup restated a “buy” rating and set a $37.00 target price on shares of Symbotic in a report on Monday, January 13th. Northland Securities boosted their price objective on shares of Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, January 17th. The Goldman Sachs Group cut their target price on shares of Symbotic from $34.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, December 4th. KeyCorp restated a “sector weight” rating on shares of Symbotic in a research report on Wednesday, November 27th. Finally, TD Cowen lifted their target price on Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.73.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Canada Pension Plan Investment Board raised its holdings in shares of Symbotic by 191.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock valued at $27,281,000 after purchasing an additional 509,700 shares during the period. Geode Capital Management LLC increased its position in Symbotic by 10.2% during the third quarter. Geode Capital Management LLC now owns 503,758 shares of the company’s stock worth $12,290,000 after buying an additional 46,721 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Symbotic in the third quarter valued at approximately $1,029,000. Capital Market Strategies LLC acquired a new stake in shares of Symbotic in the fourth quarter valued at approximately $802,000. Finally, Baillie Gifford & Co. boosted its stake in shares of Symbotic by 32.0% during the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock worth $343,192,000 after acquiring an additional 3,410,050 shares during the period.

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.