Michael David Dunn Sells 1,971 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 1,971 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $30.00, for a total value of $59,130.00. Following the transaction, the insider now directly owns 22,301 shares of the company’s stock, valued at approximately $669,030. This represents a 8.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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 value of $422,139.66.
• 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 shares were sold at an average price of $30.08, for a total value of $1,921,119.36.

Symbotic Stock Up 3.7 %

Shares of NASDAQ SYM opened at $30.30 on Wednesday. Symbotic Inc. has a 12-month low of $17.11 and a 12-month high of $52.20. The company has a market cap of $17.80 billion, a price-to-earnings ratio of -505.00, a price-to-earnings-growth ratio of 7.29 and a beta of 1.79. The firm’s 50-day simple moving average is $27.11 and its 200 day simple moving average is $26.85.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. The business had revenue of $576.77 million for the quarter, compared to the consensus estimate of $470.24 million. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. Symbotic’s revenue for the quarter was up 47.2% on a year-over-year basis. During the same period last year, the company posted ($0.08) EPS. On average, equities analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current year.

Hedge Funds Weigh In On Symbotic

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

Analyst Upgrades and Downgrades

SYM has been the subject of a number of research analyst reports. Oppenheimer assumed coverage on Symbotic in a research report on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 price target for the company. DA Davidson upgraded Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price target for the company in a report on Wednesday, January 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $60.00 price objective on shares of Symbotic in a research note on Thursday, January 23rd. William Blair reissued a “market perform” rating on shares of Symbotic in a research report on Thursday, December 5th. Finally, Citigroup reissued a “buy” rating and set a $37.00 price target on shares of Symbotic in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.73.

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.