Insider Selling: Symbotic Inc. (NASDAQ:SYM) Insider Sells 2,000 Shares of Stock

Symbotic Inc. (NASDAQ:SYM - Get Free Report) insider Michael David Dunn sold 2,000 shares of Symbotic stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $40.00, for a total value of $80,000.00. Following the completion of the sale, the insider now directly owns 72,032 shares in the company, valued at approximately $2,881,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Stock Performance

Shares of SYM traded up $1.15 during midday trading on Friday, hitting $41.13. 888,654 shares of the company traded hands, compared to its average volume of 1,381,412. Symbotic Inc. has a 52 week low of $23.58 and a 52 week high of $64.14. The firm has a 50 day moving average of $42.99 and a 200-day moving average of $44.19. The stock has a market cap of $23.73 billion, a price-to-earnings ratio of -152.33 and a beta of 1.97.

Symbotic (NASDAQ:SYM - Get Free Report) last released 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 business had revenue of $368.45 million for the quarter, compared to the consensus estimate of $370.28 million. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. Sell-side analysts predict that Symbotic Inc. will post -0.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. 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. KeyCorp reduced their target price on Symbotic from $63.00 to $55.00 and set an "overweight" rating on the stock in a report on Tuesday, February 6th. William Blair restated a "market perform" rating on shares of Symbotic in a research report on Tuesday, February 6th. Cantor Fitzgerald restated an "overweight" rating and issued a $60.00 price target on shares of Symbotic in a research note on Tuesday, February 6th. Finally, The Goldman Sachs Group cut their price objective on Symbotic from $51.00 to $44.00 and set a "neutral" rating on the stock in a report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $54.00.

Institutional Trading of Symbotic

Several hedge funds have recently made changes to their positions in SYM. Baillie Gifford & Co. purchased a new stake in shares of Symbotic in the first quarter valued at $426,752,000. Vanguard Group Inc. grew its position in Symbotic by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 2,081,034 shares of the company's stock valued at $106,819,000 after acquiring an additional 40,699 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Symbotic by 189.5% during the fourth quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company's stock valued at $54,174,000 after purchasing an additional 690,900 shares during the period. Raymond James & Associates lifted its holdings in Symbotic by 6.3% during the 1st quarter. Raymond James & Associates now owns 616,391 shares of the company's stock valued at $27,738,000 after buying an additional 36,515 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Symbotic by 44.0% during the fourth quarter. First Trust Advisors LP now owns 510,237 shares of the company's stock worth $26,190,000 after acquiring an additional 155,828 shares during the period.

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.

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