Symbotic Inc. (NASDAQ:SYM) Insider Michael David Dunn Sells 2,040 Shares

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 2,040 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $22.24, for a total transaction of $45,369.60. Following the transaction, the insider now directly owns 23,822 shares of the company’s stock, valued at $529,801.28. This represents a 7.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 stock was 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 shares were 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

NASDAQ SYM opened at $17.50 on Friday. Symbotic Inc. has a 1-year low of $16.32 and a 1-year high of $48.98. The company has a market cap 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 stock’s 50 day simple moving average is $24.28 and its 200-day simple moving average is $26.62.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. On average, equities research analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Symbotic

A number of institutional investors and hedge funds have recently bought and sold shares of the business. IFP Advisors Inc lifted its stake in Symbotic by 58.2% in the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock worth $32,000 after purchasing an additional 503 shares in the last quarter. Private Trust Co. NA acquired a new stake in shares of Symbotic in the fourth quarter valued at approximately $47,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Symbotic during the fourth quarter worth approximately $47,000. Jones Financial Companies Lllp boosted its stake in Symbotic by 154.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company’s stock worth $58,000 after buying an additional 1,490 shares during the last quarter. Finally, MCF Advisors LLC purchased a new stake in Symbotic in the 4th quarter valued at $85,000.

Analyst Ratings Changes

SYM has been the subject of a number of analyst reports. Needham & Company LLC decreased their price target on Symbotic from $35.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, February 6th. The Goldman Sachs Group decreased their target price on shares of Symbotic from $28.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. UBS Group dropped their price target on shares of Symbotic from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Oppenheimer assumed coverage on shares of Symbotic in a research report on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 price objective for the company. Finally, DA Davidson upgraded Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $38.20.

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.