Michael David Dunn Sells 1,200 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 1,200 shares of Symbotic stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $44.02, for a total transaction of $52,824.00. Following the transaction, the insider now directly owns 70,832 shares in the company, valued at approximately $3,118,024.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Wednesday, May 1st, Michael David Dunn sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $40.00, for a total value of $80,000.00.
• On Wednesday, April 24th, Michael David Dunn sold 1,747 shares of Symbotic stock. The stock was sold at an average price of $40.08, for a total value of $70,019.76.
• 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.

Symbotic Stock Down 1.4 %

Symbotic stock opened at $40.91 on Friday. Symbotic Inc. has a one year low of $29.62 and a one year high of $64.14. The business has a fifty day moving average price of $43.40 and a 200-day moving average price of $44.85.

Institutional Trading of Symbotic

A number of institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC lifted its stake in Symbotic by 70.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 16,266 shares of the company’s stock worth $544,000 after purchasing an additional 6,743 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Symbotic by 15.3% in the third quarter. Bank of New York Mellon Corp now owns 60,466 shares of the company’s stock worth $2,021,000 after buying an additional 8,041 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Symbotic during the third quarter valued at $802,000. Jump Financial LLC grew its position in Symbotic by 250.2% during the third quarter. Jump Financial LLC now owns 97,360 shares of the company’s stock worth $3,255,000 after buying an additional 69,560 shares in the last quarter. Finally, Barclays PLC increased its stake in Symbotic by 195.5% in the 3rd quarter. Barclays PLC now owns 8,008 shares of the company’s stock worth $268,000 after acquiring an additional 5,298 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SYM shares. Robert W. Baird increased their price target on shares of Symbotic from $52.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. William Blair reissued a “market perform” rating on shares of Symbotic in a research report on Friday, May 10th. 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 report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft upped their price objective on Symbotic from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Finally, Craig Hallum raised their target price on Symbotic from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Symbotic has an average rating of “Moderate Buy” and a consensus target price of $55.69.

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.