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 stock was sold at an average price of $24.60, for a total value of $131,979.00. Following the completion of the transaction, the insider now directly owns 31,860 shares in the company, valued at $783,756. This represents a 14.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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 shares were sold at an average price of $28.77, for a total value of $49,340.55.

Symbotic Price Performance

Shares of NASDAQ SYM traded up $0.93 during mid-day trading on Friday, hitting $25.64. 1,274,081 shares of the stock traded hands, compared to its average volume of 1,227,640. Symbotic Inc. has a twelve month low of $17.11 and a twelve month high of $52.20. The firm has a 50 day simple moving average of $28.58 and a two-hundred day simple moving average of $28.03. The company has a market cap of $15.06 billion, a PE ratio of -427.33 and a beta of 1.73.

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

Hedge Funds Weigh In On Symbotic

Several hedge funds and other institutional investors have recently bought and sold shares of SYM. Bank of New York Mellon Corp increased its holdings in Symbotic by 9.6% in the second quarter. Bank of New York Mellon Corp now owns 80,707 shares of the company’s stock worth $2,838,000 after purchasing an additional 7,058 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Symbotic by 21.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,309 shares of the company’s stock valued at $222,000 after buying an additional 1,130 shares during the period. Commonwealth Equity Services LLC increased its position in Symbotic by 51.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 30,996 shares of the company’s stock valued at $1,090,000 after buying an additional 10,477 shares in the last quarter. Van ECK Associates Corp raised its stake in Symbotic by 109.5% during the 2nd quarter. Van ECK Associates Corp now owns 2,723 shares of the company’s stock worth $96,000 after buying an additional 1,423 shares during the period. Finally, First Dallas Securities Inc. boosted its holdings in Symbotic by 4.1% in the second quarter. First Dallas Securities Inc. now owns 20,100 shares of the company’s stock worth $707,000 after acquiring an additional 800 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Northland Securities raised their target price on Symbotic from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. TD Cowen increased their price target on Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. William Blair restated a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th. Needham & Company LLC lowered their target price on shares of Symbotic from $46.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Finally, BWS Financial restated a “sell” rating and set a $10.00 price target on shares of Symbotic in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $41.79.

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.