Michael David Dunn Sells 1,971 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 1,971 shares of Symbotic stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $30.00, for a total transaction of $59,130.00. Following the sale, the insider now owns 22,301 shares of the company’s stock, valued at approximately $669,030. This represents a 8.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, January 24th, Michael David Dunn sold 3,635 shares of Symbotic stock. The stock was sold at an average price of $33.28, for a total transaction of $120,972.80.
• On Thursday, January 16th, Michael David Dunn sold 13,114 shares of Symbotic stock. The shares were sold at an average price of $32.19, for a total value of $422,139.66.
• On Friday, January 3rd, Michael David Dunn sold 5,365 shares of Symbotic stock. The shares were sold at an average price of $24.60, for a total value of $131,979.00.
• 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 value of $1,921,119.36.

Symbotic Stock Performance

Shares of Symbotic stock traded down $0.14 during trading on Monday, hitting $29.21. 1,793,218 shares of the stock traded hands, compared to its average volume of 2,445,803. The stock has a market cap of $17.16 billion, a P/E ratio of -486.83, a PEG ratio of 7.29 and a beta of 1.79. The company has a fifty day moving average price of $27.27 and a two-hundred day moving average price of $26.92. Symbotic Inc. has a twelve month low of $17.11 and a twelve month 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 for the quarter, hitting analysts’ consensus estimates of $0.05. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The company had revenue of $576.77 million during the quarter, compared to analysts’ expectations of $470.24 million. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. The business’s quarterly revenue was up 47.2% compared to the same quarter last year. On average, equities research analysts expect that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Castleview Partners LLC raised its stake in shares of Symbotic by 50.0% in the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after purchasing an additional 500 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in Symbotic in the third quarter valued at approximately $49,000. RiverPark Advisors LLC grew its position in shares of Symbotic by 147.1% during the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after buying an additional 1,211 shares during the period. Quest Partners LLC raised its stake in Symbotic by 19,307.7% during the 3rd quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock worth $62,000 after buying an additional 2,510 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in shares of Symbotic by 28.4% in the third quarter. Van ECK Associates Corp now owns 3,497 shares of the company’s stock valued at $85,000 after buying an additional 774 shares during the period.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SYM shares. Needham & Company LLC reiterated a “buy” rating and issued a $35.00 price objective on shares of Symbotic in a research note on Friday, January 17th. TD Cowen boosted their price target on shares of Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group reduced their price objective on Symbotic from $34.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, December 4th. BWS Financial restated a “sell” rating and set a $10.00 target price on shares of Symbotic in a research report on Tuesday, January 21st. Finally, UBS Group cut 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, January 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.73.

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.