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

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 1,747 shares of Symbotic stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $40.08, for a total transaction of $70,019.76. Following the sale, the insider now owns 74,032 shares in the company, valued at approximately $2,967,202.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 transaction 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 Performance

SYM traded down $0.88 during trading on Thursday, hitting $39.55. 1,112,370 shares of the stock were exchanged, compared to its average volume of 1,418,578. The firm has a market cap of $22.82 billion, a price-to-earnings ratio of -146.37 and a beta of 1.91. The firm has a 50 day simple moving average of $43.30 and a 200 day simple moving average of $44.25. Symbotic Inc. has a 1 year low of $22.40 and a 1 year high of $64.14.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Monday, February 5th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 35.06% and a negative net margin of 1.39%. As a group, equities analysts anticipate that Symbotic Inc. will post -0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Symbotic

Hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC lifted its position in shares of Symbotic by 166.7% during the 1st quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock valued at $48,000 after acquiring an additional 660 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Symbotic by 189.7% in the 1st 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 during the last quarter. Raymond James & Associates boosted its holdings in shares of Symbotic by 6.3% in the 1st 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 during the last quarter. Financial Sense Advisors Inc. acquired a new position in shares of Symbotic in the 1st quarter valued at $247,000. Finally, Taylor Frigon Capital Management LLC lifted its holdings in shares of Symbotic by 7.0% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 66,962 shares of the company’s stock valued at $3,013,000 after acquiring an additional 4,400 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have recently commented on SYM shares. The Goldman Sachs Group lowered their price target on Symbotic from $51.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. DA Davidson raised Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Wednesday, February 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $60.00 price objective on shares of Symbotic in a report on Tuesday, February 6th. William Blair reissued a “market perform” rating on shares of Symbotic in a report on Tuesday, February 6th. Finally, Northland Securities increased their price objective on Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Symbotic currently has a consensus 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.