Michael David Dunn Sells 3,635 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 3,635 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $33.28, for a total transaction of $120,972.80. Following the completion of the transaction, the insider now owns 24,272 shares in the company, valued at approximately $807,772.16. This trade represents a 13.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• 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 transaction 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 transaction of $131,979.00.
• 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.

Symbotic Stock Up 6.4 %

Shares of NASDAQ:SYM opened at $29.51 on Wednesday. Symbotic Inc. has a 52-week low of $17.11 and a 52-week high of $52.20. The company has a 50 day moving average of $27.93 and a two-hundred day moving average of $27.21. The company has a market capitalization of $17.33 billion, a price-to-earnings ratio of -491.78, a price-to-earnings-growth ratio of 8.26 and a beta of 1.76.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. The company 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) earnings per share. Symbotic’s revenue for the quarter was up 47.2% on a year-over-year basis. On average, equities analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current year.

Institutional Trading of Symbotic

Hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in Symbotic by 24.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 43,367 shares of the company’s stock valued at $1,525,000 after acquiring an additional 8,415 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Symbotic in the 2nd quarter valued at about $4,207,000. AQR Capital Management LLC bought a new position in shares of Symbotic during the second quarter worth about $514,000. Maverick Capital Ltd. grew its stake in Symbotic by 29.0% in the second quarter. Maverick Capital Ltd. now owns 10,041 shares of the company’s stock worth $353,000 after purchasing an additional 2,260 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Symbotic by 6,694.5% in 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.

Analyst Upgrades and Downgrades

SYM has been the topic of a number of recent research reports. KeyCorp restated a “sector weight” rating on shares of Symbotic in a report on Wednesday, November 27th. Northland Securities upped their price objective on shares of Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Craig Hallum downgraded shares of Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a research note on Wednesday, November 27th. Citigroup reaffirmed a “buy” rating and set a $37.00 price objective on shares of Symbotic in a research note on Monday, January 13th. Finally, BWS Financial reaffirmed a “sell” rating and set a $10.00 price objective on shares of Symbotic in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.