Symbotic Inc. (NASDAQ:SYM) Insider Sells $45,369.60 in Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 2,040 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $22.24, for a total value of $45,369.60. Following the transaction, the insider now directly owns 23,822 shares in the company, valued at $529,801.28. This trade represents a 7.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Thursday, January 30th, Michael David Dunn sold 1,971 shares of Symbotic stock. The shares were sold at an average price of $30.00, for a total transaction of $59,130.00.
• On Friday, January 24th, Michael David Dunn sold 3,635 shares of Symbotic stock. The shares were 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 stock was 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.

Symbotic Price Performance

Symbotic stock traded down $3.79 during mid-day trading on Thursday, hitting $18.24. The company’s stock had a trading volume of 3,162,571 shares, compared to its average volume of 1,899,002. Symbotic Inc. has a 52-week low of $17.11 and a 52-week high of $48.98. The firm’s 50 day moving average is $24.86 and its 200 day moving average is $26.70. The company has a market cap of $10.73 billion, a PE ratio of -260.53, a price-to-earnings-growth ratio of 6.48 and a beta of 1.85.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. As a group, analysts forecast that Symbotic Inc. will post 0.13 EPS for the current year.

Wall Street Analysts Forecast Growth

SYM has been the subject of a number of research reports. Citigroup reaffirmed a “buy” rating and set a $37.00 price target on shares of Symbotic in a research note on Monday, January 13th. UBS Group lowered their target price on Symbotic from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. William Blair reissued a “market perform” rating on shares of Symbotic in a report on Thursday, December 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $60.00 price objective on shares of Symbotic in a research note on Thursday, February 6th. Finally, Oppenheimer assumed coverage on shares of Symbotic in a research note on Wednesday, January 15th. They set an “outperform” rating and a $35.00 target price for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $38.20.

Institutional Investors Weigh In On Symbotic

Institutional investors have recently modified their holdings of the stock. IFP Advisors Inc raised its holdings in shares of Symbotic by 58.2% during the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock worth $32,000 after acquiring an additional 503 shares in the last quarter. Private Trust Co. NA purchased a new stake in shares of Symbotic during the 4th quarter worth about $47,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Symbotic during the 4th quarter valued at about $47,000. Jones Financial Companies Lllp lifted its holdings in shares of Symbotic by 154.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company’s stock valued at $58,000 after buying an additional 1,490 shares during the last quarter. Finally, MCF Advisors LLC acquired a new position in Symbotic in the fourth quarter worth approximately $85,000.

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.