Symbotic Inc. (NASDAQ:SYM) Insider Sells $59,130.00 in Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 1,971 shares of Symbotic stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $30.00, for a total value of $59,130.00. Following the completion of the transaction, the insider now directly owns 22,301 shares in the company, valued at approximately $669,030. This represents a 8.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 value of $120,972.80.
• 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 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 transaction of $1,921,119.36.

Symbotic Price Performance

SYM stock opened at $30.30 on Wednesday. The company has a market capitalization of $17.80 billion, a P/E ratio of -505.00, a PEG ratio of 7.29 and a beta of 1.79. The business has a 50-day moving average price of $27.11 and a 200 day moving average price of $26.85. Symbotic Inc. has a 1-year low of $17.11 and a 1-year high of $52.20.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SYM. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $60.00 price target on shares of Symbotic in a report on Thursday, January 23rd. KeyCorp restated a “sector weight” rating on shares of Symbotic in a research report on Wednesday, November 27th. DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Wednesday, January 8th. TD Cowen upped their target price 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. Finally, Craig Hallum downgraded shares of Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Symbotic has a consensus rating of “Moderate Buy” and an average price target of $38.73.

Institutional Trading of Symbotic

Institutional investors and hedge funds have recently made changes to their positions in the business. ARK Investment Management LLC acquired a new stake in shares of Symbotic in the fourth quarter worth approximately $4,506,000. IFP Advisors Inc raised its position in Symbotic by 58.2% in the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock valued at $32,000 after purchasing an additional 503 shares during the period. TCW Group Inc. raised its holdings in shares of Symbotic by 51.7% in the 4th quarter. TCW Group Inc. now owns 582,955 shares of the company’s stock valued at $13,822,000 after buying an additional 198,681 shares during the period. Grove Street Fiduciary LLC purchased a new stake in shares of Symbotic in the 4th quarter valued at $200,000. Finally, Handelsbanken Fonder AB raised its holdings in shares of Symbotic by 28.0% in the 4th quarter. Handelsbanken Fonder AB now owns 11,900 shares of the company’s stock valued at $282,000 after buying an additional 2,600 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.