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

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 1,747 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $2,967,202.56. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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 Stock Down 2.2 %

Shares of Symbotic stock opened at $39.55 on Friday. Symbotic Inc. has a 12 month low of $22.40 and a 12 month high of $64.14. The stock’s fifty day simple moving average is $43.19 and its 200 day simple moving average is $44.21.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, February 5th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.03. The business 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%. As a group, research analysts anticipate that Symbotic Inc. will post -0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SYM shares. Robert W. Baird decreased their price objective on Symbotic from $54.00 to $52.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 6th. DA Davidson upgraded Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Wednesday, February 7th. KeyCorp decreased their price objective on Symbotic from $63.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 6th. Northland Securities increased their price objective on Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Finally, Needham & Company LLC decreased their price objective on Symbotic from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Institutional Trading of Symbotic

Several hedge funds have recently added to or reduced their stakes in SYM. Global Retirement Partners LLC lifted its holdings in shares of Symbotic by 166.7% in the first quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock valued at $48,000 after purchasing an additional 660 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Symbotic by 189.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 97,509 shares of the company’s stock valued at $4,388,000 after purchasing an additional 63,845 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Symbotic by 6.3% in the first quarter. Raymond James & Associates now owns 616,391 shares of the company’s stock valued at $27,738,000 after purchasing an additional 36,515 shares in the last quarter. Financial Sense Advisors Inc. bought a new stake in shares of Symbotic in the first quarter valued at about $247,000. Finally, Taylor Frigon Capital Management LLC lifted its holdings in shares of Symbotic by 7.0% in the first quarter. Taylor Frigon Capital Management LLC now owns 66,962 shares of the company’s stock valued at $3,013,000 after purchasing an additional 4,400 shares in the last quarter.

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.