Insider Selling: Symbotic Inc. (NASDAQ:SYM) Insider Sells 1,895 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 1,895 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $36.56, for a total value of $69,281.20. Following the transaction, the insider now directly owns 77,326 shares of the company’s stock, valued at approximately $2,827,038.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, July 15th, 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 Tuesday, July 2nd, Michael David Dunn sold 5,188 shares of Symbotic stock. The shares were sold at an average price of $35.49, for a total value of $184,122.12.
• 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.

Symbotic Stock Performance

Shares of SYM stock traded up $1.65 during mid-day trading on Thursday, hitting $37.84. 1,548,848 shares of the stock were exchanged, compared to its average volume of 1,362,547. Symbotic Inc. has a 12-month low of $29.62 and a 12-month high of $64.14. The stock’s fifty day simple moving average is $38.00 and its two-hundred day simple moving average is $41.41. The stock has a market capitalization of $22.12 billion, a price-to-earnings ratio of -153.20 and a beta of 1.87.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Monday, May 6th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $415.98 million. On average, research analysts expect that Symbotic Inc. will post -0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Symbotic

Hedge funds and other institutional investors have recently made changes to their positions in the stock. RFP Financial Group LLC boosted its holdings in Symbotic by 21.2% in the 1st 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 in the last quarter. Advisors Asset Management Inc. boosted its holdings in Symbotic by 11.6% in the 1st 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Symbotic by 8.9% in the 4th 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 in the last quarter. Natixis Advisors L.P. boosted its holdings in Symbotic by 4.3% in the 4th 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 in the last quarter. Finally, Van ECK Associates Corp purchased a new stake in Symbotic in the 4th quarter valued at approximately $26,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. BWS Financial assumed coverage on Symbotic in a research report on Monday. They issued a “sell” rating and a $10.00 price target for the company. Craig Hallum upped their price target on Symbotic from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft upped their price target on Symbotic from $57.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Northland Securities increased their price objective on Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $54.00 price objective on shares of Symbotic in a research report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Symbotic has a consensus rating of “Moderate Buy” and a consensus target price of $52.50.

About Symbotic

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.