Michael David Dunn Sells 2,000 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 2,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $40.00, for a total transaction of $80,000.00. Following the completion of the transaction, the insider now directly owns 72,032 shares in the company, valued at approximately $2,881,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, April 24th, Michael David Dunn sold 1,747 shares of Symbotic stock. The shares were sold at an average price of $40.08, for a total transaction of $70,019.76.
• 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.

Symbotic Trading Up 2.9 %

Shares of Symbotic stock opened at $41.13 on Friday. Symbotic Inc. has a 52 week low of $23.58 and a 52 week high of $64.14. The firm’s 50 day moving average is $42.99 and its two-hundred day moving average is $44.18.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Monday, February 5th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. The company had revenue of $368.45 million for the quarter, compared to analyst estimates of $370.28 million. Symbotic had a negative net margin of 1.39% and a negative return on equity of 35.06%. On average, sell-side analysts anticipate that Symbotic Inc. will post -0.03 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on SYM. DA Davidson raised shares of Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Wednesday, February 7th. William Blair reissued a “market perform” rating on shares of Symbotic in a research report on Tuesday, February 6th. Needham & Company LLC reduced their price target on shares of Symbotic from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. Robert W. Baird reduced their price target on shares of Symbotic from $54.00 to $52.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 6th. Finally, Northland Securities increased their price target on shares of Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Hedge Funds Weigh In On Symbotic

Several hedge funds have recently added to or reduced their stakes in SYM. Commonwealth Equity Services LLC increased its stake in Symbotic by 70.8% in the third quarter. Commonwealth Equity Services LLC now owns 16,266 shares of the company’s stock valued at $544,000 after purchasing an additional 6,743 shares during the last quarter. Pinnacle Associates Ltd. purchased a new position in Symbotic in the third quarter valued at approximately $342,000. Raymond James & Associates increased its stake in Symbotic by 19.5% in the third quarter. Raymond James & Associates now owns 502,488 shares of the company’s stock valued at $16,798,000 after purchasing an additional 82,116 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Symbotic by 176.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 75,527 shares of the company’s stock worth $2,525,000 after acquiring an additional 48,214 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Symbotic by 15.3% during the third quarter. Bank of New York Mellon Corp now owns 60,466 shares of the company’s stock worth $2,021,000 after acquiring an additional 8,041 shares during the last quarter.

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.