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

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 13,114 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $32.19, for a total value of $422,139.66. Following the transaction, the insider now owns 18,746 shares in the company, valued at approximately $603,433.74. This trade represents a 41.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 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.
• 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

NASDAQ SYM traded up $3.67 on Tuesday, reaching $33.43. The company had a trading volume of 3,917,203 shares, compared to its average volume of 2,944,867. The firm has a market cap of $19.64 billion, a price-to-earnings ratio of -557.17, a P/E/G ratio of 6.88 and a beta of 1.76. Symbotic Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $52.20. The business has a 50 day moving average of $27.85 and a two-hundred day moving average of $27.39.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings results on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. The company had revenue of $576.77 million during the quarter, compared to analysts’ expectations of $470.24 million. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The business’s quarterly revenue was up 47.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. As a group, research analysts predict that Symbotic Inc. will post 0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on SYM shares. Craig Hallum downgraded shares of Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a research report on Wednesday, November 27th. KeyCorp reissued a “sector weight” rating on shares of Symbotic in a report on Wednesday, November 27th. UBS Group reduced their price objective on Symbotic from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. BWS Financial reissued a “sell” rating and set a $10.00 target price on shares of Symbotic in a research note on Tuesday. Finally, TD Cowen raised their price target on shares of Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Symbotic presently has an average rating of “Moderate Buy” and an average price target of $38.73.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Canada Pension Plan Investment Board boosted its stake in shares of Symbotic by 191.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock worth $27,281,000 after buying an additional 509,700 shares during the last quarter. Geode Capital Management LLC grew its position in Symbotic by 10.2% during the third quarter. Geode Capital Management LLC now owns 503,758 shares of the company’s stock valued at $12,290,000 after buying an additional 46,721 shares during the period. Sanctuary Advisors LLC bought a new position in Symbotic during the third quarter valued at about $1,029,000. Capital Market Strategies LLC purchased a new stake in Symbotic during the fourth quarter worth about $802,000. Finally, Baillie Gifford & Co. raised its position in Symbotic by 32.0% in the third quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock worth $343,192,000 after acquiring an additional 3,410,050 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.