Symbotic Inc. (NASDAQ:SYM) Insider Sells $59,130.00 in Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 1,971 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $30.00, for a total value of $59,130.00. Following the completion of the sale, the insider now directly owns 22,301 shares in the company, valued at approximately $669,030. The trade was a 8.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, January 24th, Michael David Dunn sold 3,635 shares of Symbotic stock. The shares were sold at an average price of $33.28, for a total transaction of $120,972.80.
• On Thursday, January 16th, Michael David Dunn sold 13,114 shares of Symbotic stock. The stock was sold at an average price of $32.19, for a total transaction of $422,139.66.
• On Friday, January 3rd, Michael David Dunn sold 5,365 shares of Symbotic stock. The stock was sold at an average price of $24.60, for a total transaction of $131,979.00.
• 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.

Symbotic Trading Up 2.0 %

Shares of SYM opened at $30.92 on Thursday. The firm has a fifty day simple moving average of $26.97 and a two-hundred day simple moving average of $26.79. Symbotic Inc. has a 1-year low of $17.11 and a 1-year high of $50.40.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. As a group, analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Symbotic

Several institutional investors have recently made changes to their positions in SYM. IFP Advisors Inc increased its holdings in Symbotic by 58.2% during the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock valued at $32,000 after buying an additional 503 shares during the last quarter. Castleview Partners LLC grew its position in shares of Symbotic by 50.0% during the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after acquiring an additional 500 shares during the period. Private Trust Co. NA purchased a new stake in shares of Symbotic in the 4th quarter worth $47,000. Arcadia Investment Management Corp MI bought a new position in Symbotic in the 3rd quarter worth $49,000. Finally, RiverPark Advisors LLC lifted its position in Symbotic by 147.1% during the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock valued at $50,000 after purchasing an additional 1,211 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SYM. Oppenheimer started coverage on Symbotic in a research note on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 price target on the stock. The Goldman Sachs Group cut their target price on Symbotic from $34.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 4th. DA Davidson raised Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Wednesday, January 8th. BWS Financial reissued a “sell” rating and set a $10.00 price objective on shares of Symbotic in a research report on Tuesday, January 21st. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Symbotic in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.73.

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.