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

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 5,188 shares of Symbotic 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 completion of the sale, the insider now owns 76,808 shares in the company, valued at $2,725,915.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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 shares were 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 shares were sold at an average price of $40.08, for a total value of $70,019.76.

Symbotic Stock Performance

Shares of SYM stock traded down $0.85 during mid-day trading on Wednesday, hitting $35.34. The company’s stock had a trading volume of 544,476 shares, compared to its average volume of 1,378,218. Symbotic Inc. has a 52-week low of $29.62 and a 52-week high of $64.14. The business has a 50-day moving average price of $39.38 and a 200 day moving average price of $42.89. The stock has a market cap of $20.66 billion, a price-to-earnings ratio of -147.42 and a beta of 1.87.

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

Institutional Trading of Symbotic

Hedge funds have recently bought and sold shares of the company. RFP Financial Group LLC grew its holdings in Symbotic by 21.2% during the first quarter. RFP Financial Group LLC now owns 1,382 shares of the company’s stock valued at $62,000 after purchasing an additional 242 shares during the period. Advisors Asset Management Inc. grew its holdings in Symbotic by 11.6% during the first quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock valued at $123,000 after purchasing an additional 284 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Symbotic by 8.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,875 shares of the company’s stock valued at $250,000 after purchasing an additional 400 shares during the period. Natixis Advisors L.P. grew its holdings in Symbotic by 4.3% during the fourth quarter. Natixis Advisors L.P. now owns 10,983 shares of the company’s stock valued at $563,000 after purchasing an additional 456 shares during the period. Finally, Van ECK Associates Corp bought a new stake in Symbotic during the fourth quarter valued at about $26,000.

Analysts Set New Price Targets

SYM has been the topic of several research reports. Northland Securities lifted their price target on Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Robert W. Baird lifted their price target on Symbotic from $52.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Needham & Company LLC restated a “buy” rating and set a $54.00 price target on shares of Symbotic in a research report on Tuesday, May 7th. William Blair reissued a “market perform” rating on shares of Symbotic in a report on Friday, May 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Symbotic from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

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.