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

Symbotic Inc. (NASDAQ:SYM - Get Free Report) insider Michael David Dunn sold 1,747 shares of the stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $40.08, for a total transaction of $70,019.76. Following the transaction, the insider now directly owns 74,032 shares in the company, valued at approximately $2,967,202.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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 transaction of $317,295.00.

Symbotic Price Performance

Shares of SYM traded down $0.88 on Thursday, reaching $39.55. The company's stock had a trading volume of 1,118,862 shares, compared to its average volume of 1,420,803. The stock has a market capitalization of $22.82 billion, a P/E ratio of -146.48 and a beta of 1.91. The stock's 50 day simple moving average is $43.19 and its two-hundred day simple moving average is $44.21. Symbotic Inc. has a 12-month low of $22.40 and a 12-month high of $64.14.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings data on Monday, February 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.03. The company had revenue of $368.45 million for the quarter, compared to the consensus estimate of $370.28 million. Symbotic had a negative net margin of 1.39% and a negative return on equity of 35.06%. Analysts expect that Symbotic Inc. will post -0.02 earnings per share for the current year.

Hedge Funds Weigh In On Symbotic

Institutional investors and hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC lifted its holdings in Symbotic by 166.7% during 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 worth $4,388,000 after buying 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 worth $27,738,000 after buying an additional 36,515 shares in the last quarter. Financial Sense Advisors Inc. purchased a new position in shares of Symbotic in the first quarter worth $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 worth $3,013,000 after buying an additional 4,400 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages have weighed in on SYM. Robert W. Baird dropped their price target on shares of Symbotic from $54.00 to $52.00 and set an "outperform" rating for the company in a research report on Tuesday, February 6th. DA Davidson raised shares of Symbotic from a "neutral" rating to a "buy" rating and set a $50.00 price target for the company in a research report on Wednesday, February 7th. The Goldman Sachs Group dropped their target price on shares of Symbotic from $51.00 to $44.00 and set a "neutral" rating for the company in a research report on Tuesday, February 6th. William Blair reaffirmed a "market perform" rating on shares of Symbotic in a research report on Tuesday, February 6th. Finally, Northland Securities raised their target price 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 investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average 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.