Michael David Dunn Sells 3,635 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 3,635 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $33.28, for a total transaction of $120,972.80. Following the completion of the transaction, the insider now directly owns 24,272 shares of the company’s stock, valued at $807,772.16. This represents a 13.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• 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 transaction of $422,139.66.
• On Friday, January 3rd, Michael David Dunn sold 5,365 shares of Symbotic stock. The shares were 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 value of $1,921,119.36.

Symbotic Price Performance

NASDAQ SYM traded down $3.64 during mid-day trading on Monday, hitting $27.74. The stock had a trading volume of 3,823,212 shares, compared to its average volume of 2,743,865. The stock has a market capitalization of $16.30 billion, a price-to-earnings ratio of -462.33, a PEG ratio of 8.26 and a beta of 1.76. The firm’s 50 day moving average is $27.98 and its 200 day moving average is $27.28. Symbotic Inc. has a twelve month low of $17.11 and a twelve month high of $52.20.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SYM shares. 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 report on Wednesday, December 4th. Needham & Company LLC reiterated a “buy” rating and issued a $35.00 target price on shares of Symbotic in a report on Friday, January 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 price objective on shares of Symbotic in a research report on Thursday. UBS Group lowered their price objective on Symbotic from $40.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Finally, Citigroup reiterated a “buy” rating and set a $37.00 price target on shares of Symbotic in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Symbotic presently has a consensus rating of “Moderate Buy” and an average target price of $38.73.

Hedge Funds Weigh In On Symbotic

Several institutional investors have recently added to or reduced their stakes in SYM. Geode Capital Management LLC lifted its holdings in shares of Symbotic by 10.2% during the 3rd quarter. Geode Capital Management LLC now owns 503,758 shares of the company’s stock worth $12,290,000 after acquiring an additional 46,721 shares during the period. Sanctuary Advisors LLC purchased a new position in Symbotic in the third quarter valued at about $1,029,000. Capital Market Strategies LLC acquired a new stake in Symbotic in the fourth quarter valued at $802,000. Baillie Gifford & Co. grew its stake 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 purchasing an additional 3,410,050 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Symbotic by 10.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 219,074 shares of the company’s stock worth $5,343,000 after purchasing an additional 20,469 shares during 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.