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 company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $33.28, for a total value of $120,972.80. Following the sale, the insider now directly owns 24,272 shares in the company, valued at $807,772.16. This represents a 13.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 stock was 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 stock was sold at an average price of $30.08, for a total value of $1,921,119.36.

Symbotic Trading Up 6.4 %

Symbotic stock opened at $29.51 on Wednesday. The stock has a 50 day moving average of $27.93 and a two-hundred day moving average of $27.21. Symbotic Inc. has a twelve month low of $17.11 and a twelve month high of $52.20. The stock has a market capitalization of $17.33 billion, a price-to-earnings ratio of -491.78, a PEG ratio of 8.26 and a beta of 1.76.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates 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 negative net margin of 0.32% and a positive return on equity of 6.49%. Symbotic’s quarterly revenue was up 47.2% on a year-over-year basis. During the same period last year, the firm posted ($0.08) EPS. Equities analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current year.

Institutional Investors Weigh In On Symbotic

Institutional investors have recently made changes to their positions in the stock. Robocap Asset Management Ltd purchased a new stake in shares of Symbotic in the 4th quarter worth about $1,368,000. Hodges Capital Management Inc. boosted its position in shares of Symbotic by 7.9% in the 4th quarter. Hodges Capital Management Inc. now owns 273,841 shares of the company’s stock worth $6,492,000 after buying an additional 20,111 shares in the last quarter. Spire Wealth Management purchased a new stake in shares of Symbotic in the 4th quarter worth about $298,000. Intergy Private Wealth LLC purchased a new stake in shares of Symbotic in the 4th quarter worth about $310,000. Finally, Hunter Associates Investment Management LLC boosted its position in shares of Symbotic by 6.8% in the 4th quarter. Hunter Associates Investment Management LLC now owns 67,413 shares of the company’s stock worth $1,599,000 after buying an additional 4,320 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SYM shares. Citigroup reiterated a “buy” rating and set a $37.00 target price on shares of Symbotic in a research note on Monday, January 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $60.00 target price on shares of Symbotic in a research note on Thursday, January 23rd. The Goldman Sachs Group lowered their target price on shares of Symbotic from $34.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, December 4th. KeyCorp reiterated a “sector weight” rating on shares of Symbotic in a research note on Wednesday, November 27th. Finally, William Blair reiterated a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.