Michael David Dunn Sells 1,747 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 1,747 shares of Symbotic stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $40.08, for a total value of $70,019.76. Following the sale, the insider now directly owns 74,032 shares in the company, valued at approximately $2,967,202.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Tuesday, April 2nd, Michael David Dunn sold 5,444 shares of Symbotic stock. The shares were sold at an average price of $43.29, for a total value of $235,670.76.
• On Tuesday, January 30th, Michael David Dunn sold 7,051 shares of Symbotic stock. The shares were sold at an average price of $45.00, for a total value of $317,295.00.

Symbotic Trading Up 1.6 %

SYM stock opened at $40.19 on Friday. Symbotic Inc. has a 12 month low of $22.40 and a 12 month high of $64.14. The firm has a 50-day moving average of $43.13 and a two-hundred day moving average of $44.24.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Monday, February 5th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $368.45 million for the quarter, compared to the consensus estimate of $370.28 million. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. Sell-side analysts forecast that Symbotic Inc. will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Symbotic

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Symbotic by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 2,081,034 shares of the company’s stock valued at $106,819,000 after buying an additional 40,699 shares in the last quarter. 1832 Asset Management L.P. grew its stake in Symbotic by 189.5% during the 4th quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company’s stock worth $54,174,000 after purchasing an additional 690,900 shares in the last quarter. Raymond James & Associates grew its stake in Symbotic by 6.3% during the 1st quarter. Raymond James & Associates now owns 616,391 shares of the company’s stock worth $27,738,000 after purchasing an additional 36,515 shares in the last quarter. First Trust Advisors LP grew its stake in Symbotic by 44.0% during the 4th quarter. First Trust Advisors LP now owns 510,237 shares of the company’s stock worth $26,190,000 after purchasing an additional 155,828 shares in the last quarter. Finally, S Squared Technology LLC grew its stake in Symbotic by 3.8% during the 4th quarter. S Squared Technology LLC now owns 270,000 shares of the company’s stock worth $13,859,000 after purchasing an additional 10,000 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages recently issued reports on SYM. DA Davidson raised Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Wednesday, February 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 price target on shares of Symbotic in a research note on Tuesday, February 6th. The Goldman Sachs Group decreased their target price on Symbotic from $51.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Needham & Company LLC decreased their target price on Symbotic from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Finally, William Blair reaffirmed a “market perform” rating on shares of Symbotic in a research report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

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.