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 stock was sold at an average price of $32.19, for a total transaction of $422,139.66. Following the completion of the sale, the insider now directly owns 18,746 shares of the company’s stock, valued at $603,433.74. The trade was a 41.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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 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.
• 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 transaction of $49,340.55.

Symbotic Price Performance

Shares of Symbotic stock opened at $33.50 on Friday. Symbotic Inc. has a 1-year low of $17.11 and a 1-year high of $52.20. The company has a market capitalization of $19.68 billion, a PE ratio of -558.33, a P/E/G ratio of 7.72 and a beta of 1.76. The business has a 50-day moving average of $27.87 and a 200-day moving average of $27.42.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. The firm had revenue of $576.77 million during the quarter, compared to analyst estimates of $470.24 million. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. Symbotic’s quarterly revenue was up 47.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.08) EPS. On average, equities analysts expect that Symbotic Inc. will post 0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SYM has been the subject of several research analyst reports. TD Cowen upped their price target on shares of Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $35.00 target price on shares of Symbotic in a research report on Friday, January 17th. BWS Financial reissued a “sell” rating and set a $10.00 price target on shares of Symbotic in a research report on Tuesday. William Blair restated a “market perform” rating on shares of Symbotic in a report on Thursday, December 5th. Finally, Oppenheimer began coverage on Symbotic in a report on Wednesday, January 15th. They set an “outperform” rating and a $35.00 target price for the company. One equities 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.73.

Institutional Trading of Symbotic

Several institutional investors have recently added to or reduced their stakes in SYM. Castleview Partners LLC increased its position in shares of Symbotic by 50.0% in the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after purchasing an additional 500 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in Symbotic in the third quarter worth about $49,000. RiverPark Advisors LLC increased its holdings in Symbotic by 147.1% in the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock valued at $50,000 after buying an additional 1,211 shares during the last quarter. Quest Partners LLC raised its stake in Symbotic by 19,307.7% during the third quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock valued at $62,000 after buying an additional 2,510 shares in the last quarter. Finally, Quarry LP bought a new position in Symbotic during the 2nd quarter worth approximately $65,000.

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.