Symbotic Inc. (NASDAQ:SYM) Insider Sells $131,979.00 in Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 5,365 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $24.60, for a total value of $131,979.00. Following the sale, the insider now owns 31,860 shares in the company, valued at $783,756. This represents a 14.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, December 9th, Michael David Dunn sold 63,867 shares of Symbotic stock. The shares were 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 value of $49,340.55.

Symbotic Stock Up 3.8 %

Symbotic stock opened at $25.64 on Monday. The company has a market capitalization of $15.06 billion, a PE ratio of -427.33 and a beta of 1.73. Symbotic Inc. has a 12-month low of $17.11 and a 12-month high of $52.20. The firm’s fifty day moving average is $28.58 and its 200 day moving average is $27.98.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. The firm had revenue of $576.77 million for the quarter, compared to analyst estimates of $470.24 million. During the same quarter in the prior year, the business earned ($0.08) earnings per share. The business’s quarterly revenue was up 47.2% compared to the same quarter last year. Sell-side analysts expect that Symbotic Inc. will post 0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Symbotic

A number of hedge funds have recently added to or reduced their stakes in SYM. Baillie Gifford & Co. grew its position 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 lifted its stake 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 buying an additional 509,700 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Symbotic by 76.8% during the third quarter. Exchange Traded Concepts LLC now owns 873,987 shares of the company’s stock valued at $21,317,000 after buying an additional 379,726 shares during the last quarter. Millennium Management LLC increased its position in shares of Symbotic by 6,694.5% during the second quarter. Millennium Management LLC now owns 335,649 shares of the company’s stock worth $11,801,000 after acquiring an additional 330,709 shares in the last quarter. Finally, Thematics Asset Management increased its position in shares of 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 in the last quarter.

Analysts Set New Price Targets

SYM has been the subject of several recent research reports. William Blair restated a “market perform” rating on shares of Symbotic in a research report on Thursday, December 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $60.00 target price on shares of Symbotic in a research report on Tuesday, November 19th. Needham & Company LLC reduced their price target on Symbotic from $46.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Northland Securities increased their price target on Symbotic from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, The Goldman Sachs Group cut their price objective on Symbotic from $34.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $41.79.

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.