Michael David Dunn Sells 5,365 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 5,365 shares of Symbotic stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $24.60, for a total value of $131,979.00. Following the sale, the insider now directly owns 31,860 shares in the company, valued at $783,756. The trade was a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• 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 transaction of $49,340.55.

Symbotic Trading Up 3.8 %

Shares of NASDAQ SYM opened at $25.64 on Friday. The firm’s 50-day moving average price is $28.58 and its 200-day moving average price is $28.03. The firm has a market capitalization of $15.06 billion, a P/E ratio of -427.33 and a beta of 1.73. Symbotic Inc. has a 1-year low of $17.11 and a 1-year high of $52.20.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Monday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. The business had revenue of $576.77 million for the quarter, compared to analyst estimates of $470.24 million. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The company’s quarterly revenue was up 47.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.08) earnings per share. Equities research analysts forecast that Symbotic Inc. will post 0.12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SYM. DA Davidson lowered shares of Symbotic from a “buy” rating to a “neutral” rating and cut their price target for the stock from $50.00 to $35.00 in a report on Wednesday, November 27th. KeyCorp reiterated a “sector weight” rating on shares of Symbotic in a research report on Wednesday, November 27th. Needham & Company LLC decreased their price target on Symbotic from $46.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Northland Securities lifted their price objective on Symbotic from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Finally, Craig Hallum downgraded shares of Symbotic from a “buy” rating to a “hold” rating and set a $25.00 target price for the company. in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Symbotic presently has a consensus rating of “Hold” and a consensus target price of $41.79.

Institutional Trading of Symbotic

Several hedge funds have recently bought and sold shares of the business. Canada Pension Plan Investment Board lifted 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 buying an additional 509,700 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Symbotic by 10.2% in the 3rd quarter. Geode Capital Management LLC now owns 503,758 shares of the company’s stock worth $12,290,000 after acquiring an additional 46,721 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Symbotic in the 3rd quarter worth about $1,029,000. Baillie Gifford & Co. lifted its position in Symbotic by 32.0% in the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock valued at $343,192,000 after acquiring an additional 3,410,050 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Symbotic by 10.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 219,074 shares of the company’s stock valued at $5,343,000 after purchasing an additional 20,469 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.