Symbotic Inc. (NASDAQ:SYM) Insider Sells $70,019.76 in Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 1,747 shares of the business’s 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 transaction, the insider now owns 74,032 shares of the company’s stock, valued at $2,967,202.56. The sale was disclosed in a legal filing 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 stock was sold at an average price of $43.29, for a total transaction of $235,670.76.
• On Tuesday, January 30th, Michael David Dunn sold 7,051 shares of Symbotic stock. The stock was sold at an average price of $45.00, for a total transaction of $317,295.00.

Symbotic Stock Up 1.6 %

Symbotic stock opened at $40.19 on Friday. Symbotic Inc. has a 52-week low of $22.40 and a 52-week high of $64.14. The firm’s fifty day moving average is $43.13 and its 200 day moving average is $44.27.

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

Hedge Funds Weigh In On Symbotic

A number of institutional investors and hedge funds have recently modified their holdings of SYM. National Bank of Canada FI lifted its holdings in shares of Symbotic by 66.7% in the 3rd quarter. National Bank of Canada FI now owns 1,000 shares of the company’s stock worth $35,000 after acquiring an additional 400 shares during the last quarter. Vontobel Holding Ltd. purchased a new position in shares of Symbotic during the third quarter valued at approximately $204,000. Commonwealth Equity Services LLC grew its stake in shares of Symbotic by 70.8% during the third quarter. Commonwealth Equity Services LLC now owns 16,266 shares of the company’s stock valued at $544,000 after buying an additional 6,743 shares during the last quarter. Pinnacle Associates Ltd. purchased a new stake in shares of Symbotic in the third quarter worth approximately $342,000. Finally, Dakota Wealth Management lifted its stake in shares of Symbotic by 43.4% during the 3rd quarter. Dakota Wealth Management now owns 37,549 shares of the company’s stock worth $1,255,000 after acquiring an additional 11,367 shares during the last quarter.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. William Blair reaffirmed a “market perform” rating on shares of Symbotic in a report on Tuesday, February 6th. KeyCorp cut their target price on Symbotic from $63.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, February 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $60.00 price target on shares of Symbotic in a report on Tuesday, February 6th. Northland Securities increased their price objective on shares of Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Finally, Robert W. Baird lowered their target price on shares of Symbotic from $54.00 to $52.00 and set an “outperform” rating on the stock in a report on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Symbotic presently has an average 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.