Symbotic Inc. (NASDAQ:SYM) Insider Michael David Dunn Sells 13,114 Shares

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 13,114 shares of Symbotic stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $32.19, for a total transaction of $422,139.66. Following the completion of the transaction, the insider now directly owns 18,746 shares in the company, valued at approximately $603,433.74. The trade was a 41.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Friday, January 3rd, Michael David Dunn sold 5,365 shares of Symbotic stock. The stock was 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 stock was 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 shares were sold at an average price of $28.77, for a total value of $49,340.55.

Symbotic Stock Performance

SYM traded up $3.67 during trading hours on Tuesday, reaching $33.43. The company’s stock had a trading volume of 3,917,203 shares, compared to its average volume of 2,944,867. The company’s 50-day moving average is $27.85 and its 200-day moving average is $27.39. Symbotic Inc. has a 52 week low of $17.11 and a 52 week high of $52.20. The firm has a market cap of $19.64 billion, a PE ratio of -557.17, a price-to-earnings-growth ratio of 6.88 and a beta of 1.76.

Symbotic (NASDAQ:SYM) last posted its earnings results on Monday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 analysts’ expectations of $470.24 million. During the same quarter last year, the company posted ($0.08) EPS. Symbotic’s quarterly revenue was up 47.2% compared to the same quarter last year. Equities analysts anticipate that Symbotic Inc. will post 0.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SYM has been the topic of a number of recent research reports. Oppenheimer initiated coverage on Symbotic in a research report on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 target price on the stock. BWS Financial reissued a “sell” rating and issued a $10.00 price objective on shares of Symbotic in a research report on Tuesday. Northland Securities raised their target price on shares of Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday. The Goldman Sachs Group cut 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, DA Davidson upgraded Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $38.73.

Hedge Funds Weigh In On Symbotic

Several institutional investors and hedge funds have recently made changes to their positions in SYM. Baillie Gifford & Co. boosted its stake in Symbotic by 32.0% in 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. Canada Pension Plan Investment Board boosted its position in shares of Symbotic by 191.5% in the second quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock valued at $27,281,000 after acquiring an additional 509,700 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of Symbotic by 76.8% in the third quarter. Exchange Traded Concepts LLC now owns 873,987 shares of the company’s stock valued at $21,317,000 after acquiring an additional 379,726 shares during the period. Millennium Management LLC grew its stake in shares of 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 acquiring an additional 330,709 shares in the last quarter. Finally, Thematics Asset Management increased its position in Symbotic by 30.1% during the third 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.

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.