Symbotic Inc. (NASDAQ:SYM) Insider Michael David Dunn Sells 5,188 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 5,188 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $35.49, for a total value of $184,122.12. Following the sale, the insider now directly owns 76,808 shares in the company, valued at approximately $2,725,915.92. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Wednesday, May 22nd, Michael David Dunn sold 1,200 shares of Symbotic stock. The stock was 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.
• On Wednesday, April 24th, Michael David Dunn sold 1,747 shares of Symbotic stock. The stock was sold at an average price of $40.08, for a total transaction of $70,019.76.

Symbotic Stock Performance

SYM opened at $35.34 on Thursday. Symbotic Inc. has a 12 month low of $29.62 and a 12 month high of $64.14. The business has a 50-day moving average of $39.27 and a two-hundred day moving average of $42.84.

Symbotic (NASDAQ:SYM) last released its earnings results on Monday, May 6th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.25. Symbotic had a negative net margin of 1.27% and a positive return on equity of 5.27%. The firm had revenue of $424.30 million during the quarter, compared to the consensus estimate of $415.98 million. Research analysts predict that Symbotic Inc. will post -0.07 EPS for the current fiscal year.

Institutional Trading of Symbotic

Institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp acquired a new position in Symbotic in the fourth quarter valued at $26,000. RiverPark Advisors LLC acquired a new position in Symbotic during the first quarter valued at approximately $37,000. Pingora Partners LLC purchased a new stake in Symbotic during the 4th quarter worth $51,000. Global Retirement Partners LLC raised its position in Symbotic by 166.7% in the first quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock valued at $48,000 after purchasing an additional 660 shares during the period. Finally, Centerpoint Advisors LLC acquired a new position in shares of Symbotic during the fourth quarter worth about $62,000.

Analysts Set New Price Targets

A number of brokerages have issued reports on SYM. William Blair restated a “market perform” rating on shares of Symbotic in a research report on Friday, May 10th. Craig Hallum lifted their price objective on Symbotic from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Robert W. Baird increased their target price on Symbotic from $52.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Northland Securities boosted their price target on Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 price objective on shares of Symbotic in a research note on Tuesday, May 7th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Symbotic presently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

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.