Insider Selling: Symbotic Inc. (NASDAQ:SYM) Insider Sells 13,114 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 13,114 shares of Symbotic stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $32.19, for a total transaction of $422,139.66. Following the sale, the insider now directly owns 18,746 shares of the company’s stock, valued at $603,433.74. The trade was a 41.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• 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 value of $131,979.00.
• On Monday, December 9th, Michael David Dunn sold 63,867 shares of Symbotic stock. The stock was sold at an average price of $30.08, for a total value of $1,921,119.36.
• On Thursday, October 24th, Michael David Dunn sold 1,715 shares of Symbotic stock. The shares were sold at an average price of $28.77, for a total value of $49,340.55.

Symbotic Price Performance

Shares of Symbotic stock opened at $33.29 on Thursday. The company’s 50 day moving average price is $27.84 and its two-hundred day moving average price is $27.38. The firm has a market capitalization of $19.56 billion, a P/E ratio of -554.83, a P/E/G ratio of 6.88 and a beta of 1.76. Symbotic Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $52.20.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05. The business had revenue of $576.77 million for the quarter, compared to analyst estimates of $470.24 million. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. Symbotic’s quarterly revenue was up 47.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) EPS. On average, analysts expect that Symbotic Inc. will post 0.14 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. KeyCorp reissued a “sector weight” rating on shares of Symbotic in a research report on Wednesday, November 27th. UBS Group lowered their target price on shares of Symbotic from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Northland Securities boosted their price target on Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. William Blair restated a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th. Finally, Craig Hallum lowered Symbotic from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.73.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in Symbotic by 24.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 43,367 shares of the company’s stock worth $1,525,000 after purchasing an additional 8,415 shares during the last quarter. Blair William & Co. IL increased its stake in shares of Symbotic by 67.9% in the second quarter. Blair William & Co. IL now owns 56,030 shares of the company’s stock valued at $1,970,000 after buying an additional 22,665 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Symbotic by 191.5% during the second quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock worth $27,281,000 after acquiring an additional 509,700 shares during the last quarter. Ensign Peak Advisors Inc lifted its stake in shares of Symbotic by 3,622.4% in the second quarter. Ensign Peak Advisors Inc now owns 193,678 shares of the company’s stock worth $6,810,000 after acquiring an additional 188,475 shares during the period. Finally, Marshall Wace LLP bought a new stake in Symbotic in the second quarter valued at approximately $4,207,000.

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.