Insider Selling: Symbotic Inc. (NASDAQ:SYM) Insider Sells 5,365 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 5,365 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $24.60, for a total transaction of $131,979.00. Following the completion of the transaction, the insider now directly owns 31,860 shares in the company, valued at $783,756. This trade represents a 14.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Monday, December 9th, Michael David Dunn sold 63,867 shares of Symbotic stock. The shares were sold at an average price of $30.08, for a total transaction of $1,921,119.36.
• On Thursday, October 24th, Michael David Dunn sold 1,715 shares of Symbotic stock. The stock was sold at an average price of $28.77, for a total value of $49,340.55.

Symbotic Price Performance

Shares of SYM traded up $0.93 during mid-day trading on Friday, hitting $25.64. The stock had a trading volume of 1,274,081 shares, compared to its average volume of 1,227,640. Symbotic Inc. has a 52 week low of $17.11 and a 52 week high of $52.20. The business has a fifty day moving average price of $28.58 and a 200-day moving average price of $28.03. The firm has a market cap of $15.06 billion, a P/E ratio of -427.33 and a beta of 1.73.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Monday, November 18th. The company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. The business had revenue of $576.77 million for the quarter, compared to the consensus estimate of $470.24 million. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. The company’s revenue was up 47.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) earnings per share. As a group, research analysts expect that Symbotic Inc. will post 0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SYM. Bank of New York Mellon Corp lifted its position in shares of Symbotic by 9.6% during the second quarter. Bank of New York Mellon Corp now owns 80,707 shares of the company’s stock worth $2,838,000 after acquiring an additional 7,058 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Symbotic by 21.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,309 shares of the company’s stock valued at $222,000 after purchasing an additional 1,130 shares during the period. Commonwealth Equity Services LLC lifted its holdings in Symbotic by 51.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 30,996 shares of the company’s stock worth $1,090,000 after purchasing an additional 10,477 shares in the last quarter. Van ECK Associates Corp boosted its stake in Symbotic by 109.5% in the 2nd quarter. Van ECK Associates Corp now owns 2,723 shares of the company’s stock worth $96,000 after purchasing an additional 1,423 shares during the period. Finally, First Dallas Securities Inc. grew its holdings in Symbotic by 4.1% during the 2nd quarter. First Dallas Securities Inc. now owns 20,100 shares of the company’s stock valued at $707,000 after buying an additional 800 shares in the last quarter.

Wall Street Analysts Forecast Growth

SYM has been the subject of several recent research reports. The Goldman Sachs Group decreased their price target on Symbotic from $34.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, December 4th. DA Davidson lowered shares of Symbotic from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $50.00 to $35.00 in a research note on Wednesday, November 27th. KeyCorp reissued a “sector weight” rating on shares of Symbotic in a research report on Wednesday, November 27th. Needham & Company LLC reduced their price objective on shares of Symbotic from $46.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Finally, UBS Group dropped their target price on shares of Symbotic from $40.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $41.79.

Symbotic Company Profile

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.