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 the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $24.60, for a total transaction of $131,979.00. Following the sale, the insider now owns 31,860 shares of the company’s stock, valued at approximately $783,756. This represents a 14.41 % decrease in their ownership of the stock. The transaction 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 stock was 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 value of $49,340.55.

Symbotic Trading Up 3.8 %

SYM opened at $25.64 on Friday. Symbotic Inc. has a 12 month low of $17.11 and a 12 month high of $52.20. The stock has a 50-day moving average of $28.58 and a 200 day moving average of $28.03. The firm has a market cap of $15.06 billion, a P/E ratio of -427.33 and a beta of 1.73.

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

Analysts Set New Price Targets

SYM has been the topic of a number of recent analyst reports. Craig Hallum downgraded shares of Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a report on Wednesday, November 27th. Northland Securities raised their price target on Symbotic from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. UBS Group dropped their target price on Symbotic from $40.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $60.00 price target on shares of Symbotic in a research report on Tuesday, November 19th. Finally, The Goldman Sachs Group cut their target price on shares of Symbotic from $34.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, December 4th. One investment 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 data from MarketBeat.com, Symbotic presently has a consensus rating of “Hold” and an average target price of $41.79.

Institutional Trading of Symbotic

A number of institutional investors have recently modified their holdings of SYM. Baillie Gifford & Co. boosted its stake in Symbotic by 32.0% in the third 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. Canada Pension Plan Investment Board increased its stake in Symbotic by 191.5% during the 2nd 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. Exchange Traded Concepts LLC raised its holdings in shares of Symbotic by 76.8% in the third quarter. Exchange Traded Concepts LLC now owns 873,987 shares of the company’s stock worth $21,317,000 after buying an additional 379,726 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Symbotic by 6,694.5% during the second quarter. Millennium Management LLC now owns 335,649 shares of the company’s stock valued at $11,801,000 after buying an additional 330,709 shares during the last quarter. Finally, Thematics Asset Management increased its position in shares of Symbotic by 30.1% in the 3rd quarter. Thematics Asset Management now owns 1,048,170 shares of the company’s stock valued at $25,565,000 after acquiring an additional 242,661 shares during the period.

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.