Symbotic Inc. (NASDAQ:SYM) Insider Sells $422,139.66 in Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 13,114 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $32.19, for a total value of $422,139.66. Following the sale, the insider now directly owns 18,746 shares in the company, valued at $603,433.74. This trade represents a 41.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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 transaction 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 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 Stock Performance

NASDAQ:SYM opened at $33.50 on Friday. Symbotic Inc. has a 1 year low of $17.11 and a 1 year high of $52.20. The stock has a fifty day moving average price of $27.87 and a two-hundred day moving average price of $27.42. The stock has a market capitalization of $19.68 billion, a price-to-earnings ratio of -558.33, a PEG ratio of 7.72 and a beta of 1.76.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Monday, November 18th. The company reported $0.05 EPS 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 during the quarter, compared to analysts’ expectations of $470.24 million. During the same quarter last year, the business earned ($0.08) earnings per share. The business’s revenue for the quarter was up 47.2% compared to the same quarter last year. On average, analysts predict that Symbotic Inc. will post 0.14 EPS for the current year.

Institutional Investors Weigh In On Symbotic

A number of institutional investors and hedge funds have recently modified their holdings of the company. Intergy Private Wealth LLC acquired a new position in Symbotic during the fourth quarter worth about $310,000. Hunter Associates Investment Management LLC raised its position in shares of Symbotic by 6.8% during the 4th quarter. Hunter Associates Investment Management LLC now owns 67,413 shares of the company’s stock worth $1,599,000 after purchasing an additional 4,320 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Symbotic in the 4th quarter valued at approximately $559,000. Bourne Lent Asset Management Inc. grew its holdings in Symbotic by 34.8% during the 4th quarter. Bourne Lent Asset Management Inc. now owns 87,210 shares of the company’s stock valued at $2,068,000 after buying an additional 22,500 shares during the last quarter. Finally, MCF Advisors LLC acquired a new position in shares of Symbotic in the fourth quarter worth $85,000.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SYM. Citigroup reissued a “buy” rating and issued a $37.00 target price on shares of Symbotic in a report on Monday, January 13th. BWS Financial reissued a “sell” rating and issued a $10.00 price objective on shares of Symbotic in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $35.00 target price on shares of Symbotic in a report on Friday, January 17th. TD Cowen increased their price target on shares of Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, The Goldman Sachs Group dropped their price objective on shares of Symbotic from $34.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Symbotic currently has a consensus rating of “Moderate Buy” and an average price target of $38.73.

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.