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

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 5,365 shares of the stock in a transaction on Friday, January 3rd. The stock was 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 approximately $783,756. This trade 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 link.

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 value of $49,340.55.

Symbotic Price Performance

NASDAQ:SYM opened at $25.64 on Friday. The company 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. The business has a fifty day simple moving average of $28.58 and a two-hundred day simple moving average of $28.03.

Symbotic (NASDAQ:SYM) last issued its earnings results on Monday, November 18th. The company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The business had revenue of $576.77 million during the quarter, compared to the consensus estimate of $470.24 million. During the same quarter last year, the company earned ($0.08) EPS. The firm’s revenue was up 47.2% compared to the same quarter last year. As a group, analysts anticipate that Symbotic Inc. will post 0.12 earnings per share for the current year.

Institutional Investors Weigh In On Symbotic

Large investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. increased its position in Symbotic by 32.0% during the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock valued at $343,192,000 after purchasing an additional 3,410,050 shares during the period. Thematics Asset Management grew its holdings in shares of Symbotic by 30.1% during the 3rd quarter. Thematics Asset Management now owns 1,048,170 shares of the company’s stock worth $25,565,000 after acquiring an additional 242,661 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Symbotic by 76.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 873,987 shares of the company’s stock worth $21,317,000 after acquiring an additional 379,726 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Symbotic by 191.5% in 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 during the period. Finally, Geode Capital Management LLC raised its holdings in Symbotic by 10.2% in the third quarter. Geode Capital Management LLC now owns 503,758 shares of the company’s stock worth $12,290,000 after purchasing an additional 46,721 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SYM shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $60.00 price target on shares of Symbotic in a research note on Tuesday, November 19th. UBS Group reduced their price objective on shares of Symbotic from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday. BWS Financial reissued a “sell” rating and issued a $10.00 price target on shares of Symbotic in a research note on Tuesday, November 19th. The Goldman Sachs Group dropped their price target on shares of Symbotic from $34.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 4th. Finally, Northland Securities lifted their target price on shares of Symbotic from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.