Symbotic Inc. (NASDAQ:SYM) Insider Michael David Dunn Sells 5,266 Shares

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 5,266 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $23.81, for a total value of $125,383.46. Following the transaction, the insider now directly owns 85,224 shares of the company’s stock, valued at $2,029,183.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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 shares were sold at an average price of $36.56, for a total value of $69,281.20.
• On Monday, July 15th, Michael David Dunn sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $40.00, for a total value of $80,000.00.

Symbotic Price Performance

Symbotic stock traded down $1.12 during mid-day trading on Thursday, hitting $23.06. The company’s stock had a trading volume of 1,415,383 shares, compared to its average volume of 1,599,866. Symbotic Inc. has a 52-week low of $17.11 and a 52-week high of $59.82. The firm’s 50 day moving average is $23.22 and its 200 day moving average is $34.47. The company has a market cap of $13.50 billion, a PE ratio of -99.62 and a beta of 1.81.

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

Institutional Trading of Symbotic

Institutional investors have recently bought and sold shares of the company. Baillie Gifford & Co. boosted its stake in shares of Symbotic by 12.4% during the 2nd quarter. Baillie Gifford & Co. now owns 10,660,949 shares of the company’s stock worth $374,839,000 after acquiring an additional 1,177,578 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Symbotic by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock worth $109,189,000 after acquiring an additional 345,386 shares during the period. 1832 Asset Management L.P. grew its holdings in shares of Symbotic by 189.5% during the 4th quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company’s stock worth $54,174,000 after purchasing an additional 690,900 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Symbotic by 191.5% in the second 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 in the last quarter. Finally, Raymond James & Associates lifted its position in Symbotic by 8.4% in the second quarter. Raymond James & Associates now owns 668,103 shares of the company’s stock worth $23,491,000 after purchasing an additional 51,712 shares during the period.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SYM shares. Craig Hallum reduced their price objective on shares of Symbotic from $54.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. KeyCorp reduced their target price on shares of Symbotic from $55.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their price target on Symbotic from $58.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. BWS Financial reissued a “sell” rating and set a $10.00 price objective on shares of Symbotic in a research note on Friday, September 27th. Finally, Citigroup cut their target price on Symbotic from $62.00 to $49.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Symbotic currently has an average rating of “Moderate Buy” and an average target price of $43.23.

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.