Symbotic Inc. (NASDAQ:SYM) Insider Sells $45,369.60 in Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 2,040 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $22.24, for a total transaction of $45,369.60. Following the completion of the sale, the insider now directly owns 23,822 shares in the company, valued at approximately $529,801.28. This represents a 7.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Thursday, January 30th, Michael David Dunn sold 1,971 shares of Symbotic stock. The shares were sold at an average price of $30.00, for a total transaction of $59,130.00.
• On Friday, January 24th, Michael David Dunn sold 3,635 shares of Symbotic stock. The stock was sold at an average price of $33.28, for a total transaction 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.

Symbotic Price Performance

SYM opened at $17.50 on Friday. The firm has a market capitalization of $10.30 billion, a PE ratio of -249.96, a price-to-earnings-growth ratio of 6.48 and a beta of 1.86. The business’s 50-day moving average is $24.28 and its two-hundred day moving average is $26.62. Symbotic Inc. has a 1 year low of $16.32 and a 1 year high of $48.98.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. As a group, sell-side analysts expect that Symbotic Inc. will post 0.13 EPS for the current year.

Institutional Trading of Symbotic

Several hedge funds and other institutional investors have recently made changes to their positions in the business. IFP Advisors Inc increased 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 valued at $32,000 after acquiring an additional 503 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Symbotic by 1.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 48,672 shares of the company’s stock valued at $1,154,000 after purchasing an additional 619 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of Symbotic by 36.8% in the third quarter. National Bank of Canada FI now owns 3,557 shares of the company’s stock worth $87,000 after buying an additional 957 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Symbotic by 40.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,566 shares of the company’s stock worth $85,000 after buying an additional 1,018 shares during the period. Finally, Cetera Investment Advisers grew its holdings in shares of Symbotic by 5.7% during the fourth quarter. Cetera Investment Advisers now owns 24,621 shares of the company’s stock valued at $584,000 after buying an additional 1,332 shares during the last quarter.

Analyst Ratings Changes

SYM has been the topic of a number of recent analyst reports. Raymond James lowered Symbotic from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. DA Davidson raised shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Wednesday, January 8th. UBS Group decreased their price objective on shares of Symbotic from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a research note on Thursday, February 6th. Finally, Oppenheimer began coverage on shares of Symbotic in a research note on Wednesday, January 15th. They set an “outperform” rating and a $35.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $38.20.

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.