Symbotic Inc. (NASDAQ:SYM) Insider Sells $184,122.12 in Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 5,188 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $35.49, for a total transaction of $184,122.12. Following the completion of the transaction, the insider now directly owns 76,808 shares of the company’s stock, valued at $2,725,915.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, May 22nd, Michael David Dunn sold 1,200 shares of Symbotic stock. The shares were sold at an average price of $44.02, for a total transaction of $52,824.00.
• On Wednesday, May 1st, Michael David Dunn sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $40.00, for a total transaction of $80,000.00.
• On Wednesday, April 24th, Michael David Dunn sold 1,747 shares of Symbotic stock. The stock was sold at an average price of $40.08, for a total transaction of $70,019.76.

Symbotic Price Performance

SYM stock traded down $0.85 during midday trading on Wednesday, reaching $35.34. The company had a trading volume of 544,476 shares, compared to its average volume of 1,378,218. The company has a market capitalization of $20.66 billion, a price-to-earnings ratio of -147.42 and a beta of 1.87. The stock has a 50 day moving average price of $39.38 and a 200-day moving average price of $42.89. Symbotic Inc. has a 1-year low of $29.62 and a 1-year high of $64.14.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.25. The business had revenue of $424.30 million during the quarter, compared to the consensus estimate of $415.98 million. Symbotic had a positive return on equity of 5.27% and a negative net margin of 1.27%. As a group, research analysts anticipate that Symbotic Inc. will post -0.07 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on SYM shares. Northland Securities lifted their price objective on shares of Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Robert W. Baird lifted their price objective on shares of Symbotic from $52.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Symbotic from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Craig Hallum lifted their price objective on shares of Symbotic from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $54.00 target price on shares of Symbotic in a research report on Tuesday, May 7th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Cetera Advisors LLC raised its stake in Symbotic by 11.2% during the first quarter. Cetera Advisors LLC now owns 8,372 shares of the company’s stock worth $377,000 after acquiring an additional 841 shares in the last quarter. Virtu Financial LLC acquired a new position in Symbotic during the first quarter worth about $770,000. Washington Harbour Partners LP raised its stake in Symbotic by 45.6% during the first quarter. Washington Harbour Partners LP now owns 85,300 shares of the company’s stock worth $3,838,000 after acquiring an additional 26,700 shares in the last quarter. Vista Investment Partners LLC raised its stake in Symbotic by 11.1% during the first quarter. Vista Investment Partners LLC now owns 20,496 shares of the company’s stock worth $922,000 after acquiring an additional 2,046 shares in the last quarter. Finally, Comerica Bank raised its stake in Symbotic by 1,347.0% during the first quarter. Comerica Bank now owns 16,641 shares of the company’s stock worth $749,000 after acquiring an additional 15,491 shares in the last quarter.

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.