Symbotic Inc. (NASDAQ:SYM) Insider Michael David Dunn Sells 30,000 Shares

Symbotic Inc. (NASDAQ:SYM – Get Rating) insider Michael David Dunn sold 30,000 shares of the business’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $34.54, for a total value of $1,036,200.00. Following the sale, the insider now owns 79,522 shares of the company’s stock, valued at approximately $2,746,689.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, May 23rd, Michael David Dunn sold 11,080 shares of Symbotic stock. The stock was sold at an average price of $32.12, for a total value of $355,889.60.
• On Wednesday, May 10th, Michael David Dunn sold 5,000 shares of Symbotic stock. The shares were sold at an average price of $27.58, for a total transaction of $137,900.00.
• On Monday, April 3rd, Michael David Dunn sold 2,815 shares of Symbotic stock. The stock was sold at an average price of $23.29, for a total transaction of $65,561.35.
• On Wednesday, March 1st, Michael David Dunn sold 700 shares of Symbotic stock. The stock was sold at an average price of $16.55, for a total value of $11,585.00.
• On Monday, February 27th, Michael David Dunn sold 12,593 shares of Symbotic stock. The shares were sold at an average price of $16.71, for a total value of $210,429.03.
• On Friday, February 24th, Michael David Dunn sold 12,639 shares of Symbotic stock. The stock was sold at an average price of $16.61, for a total value of $209,933.79.

Symbotic Stock Performance

NASDAQ SYM opened at $35.34 on Friday. Symbotic Inc. has a 52-week low of $8.75 and a 52-week high of $35.68. The firm has a 50-day moving average of $26.28 and a 200-day moving average of $18.05.

Symbotic (NASDAQ:SYM – Get Rating) last released its quarterly earnings results on Monday, May 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.04). Symbotic had a negative net margin of 2.26% and a negative return on equity of 78.17%. The firm had revenue of $266.85 million during the quarter, compared to the consensus estimate of $224.82 million. During the same quarter last year, the firm earned ($5.61) earnings per share. The business’s revenue for the quarter was up 177.2% compared to the same quarter last year. As a group, sell-side analysts expect that Symbotic Inc. will post -0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SYM. William Blair reaffirmed an “outperform” rating on shares of Symbotic in a research note on Monday. Northland Securities upped their target price on Symbotic from $30.00 to $35.00 in a report on Monday. Deutsche Bank Aktiengesellschaft boosted their price target on Symbotic from $31.00 to $36.00 in a research report on Monday. Raymond James raised their target price on shares of Symbotic from $23.00 to $35.00 in a research note on Tuesday, May 2nd. Finally, Robert W. Baird upped their price target on shares of Symbotic from $28.00 to $32.00 in a research report on Monday. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $28.77.

Hedge Funds Weigh In On Symbotic

A number of hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. acquired a new position in shares of Symbotic during the 2nd quarter worth $534,000. Raymond James & Associates bought a new position in shares of Symbotic in the third quarter worth about $267,000. Barclays PLC acquired a new stake in shares of Symbotic in the 3rd quarter valued at approximately $445,000. Royce & Associates LP bought a new stake in shares of Symbotic during the 3rd quarter valued at approximately $431,000. Finally, New York State Common Retirement Fund acquired a new position in Symbotic during the 3rd quarter worth approximately $225,000. Institutional investors own 57.76% of the company’s stock.

Symbotic Company Profile

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Symbotic Inc, an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. The company offers Symbotic system, an end-to-end warehouse automation system for product distribution. It also designs, assemblies, and installs modular inventory management systems and performs configuration of embedded software.