Symbotic Inc. (NASDAQ:SYM) Insider Michael David Dunn Sells 5,266 Shares

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 5,266 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $23.81, for a total value of $125,383.46. Following the completion of the sale, the insider now owns 85,224 shares in the company, valued at approximately $2,029,183.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Wednesday, July 24th, Michael David Dunn sold 1,895 shares of Symbotic stock. The stock was sold at an average price of $36.56, for a total transaction of $69,281.20.
• On Monday, July 15th, 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.

Symbotic Trading Down 4.6 %

SYM traded down $1.12 on Thursday, hitting $23.06. 1,415,383 shares of the company’s stock were exchanged, compared to its average volume of 1,599,866. The stock has a fifty day moving average of $23.22 and a two-hundred day moving average of $34.47. Symbotic Inc. has a twelve month low of $17.11 and a twelve month high of $59.82. The firm has a market cap of $13.50 billion, a PE ratio of -99.62 and a beta of 1.81.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Monday, July 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.04). The company had revenue of $491.86 million during the quarter, compared to the consensus estimate of $464.56 million. Symbotic had a positive return on equity of 4.08% and a negative net margin of 1.03%. The company’s revenue for the quarter was up 57.7% on a year-over-year basis. During the same period last year, the business posted ($0.07) EPS. On average, analysts predict that Symbotic Inc. will post -0.08 EPS for the current year.

Analyst Ratings Changes

SYM has been the topic of a number of recent research reports. Northland Securities reduced their target price on Symbotic from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Robert W. Baird decreased their price objective on Symbotic from $53.00 to $41.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. KeyCorp reduced their target price on shares of Symbotic from $55.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. TD Cowen decreased their price target on shares of Symbotic from $55.00 to $43.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Finally, Needham & Company LLC cut their price objective on shares of Symbotic from $54.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten 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 $43.23.

Hedge Funds Weigh In On Symbotic

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Symbotic by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock worth $109,189,000 after buying an additional 345,386 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Symbotic by 191.5% during the second quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock valued at $27,281,000 after purchasing an additional 509,700 shares during the period. Blair William & Co. IL raised its stake in shares of Symbotic by 418.1% during the first quarter. Blair William & Co. IL now owns 33,365 shares of the company’s stock valued at $1,501,000 after purchasing an additional 26,925 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Symbotic in the fourth quarter worth about $1,669,000. Finally, Comerica Bank grew its position in Symbotic by 1,347.0% in the 1st quarter. Comerica Bank now owns 16,641 shares of the company’s stock valued at $749,000 after buying 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.