Michael David Dunn Sells 1,715 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 1,715 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $28.77, for a total transaction of $49,340.55. Following the transaction, the insider now owns 87,922 shares of the company’s stock, valued at approximately $2,529,515.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, October 2nd, Michael David Dunn sold 5,266 shares of Symbotic stock. The shares were sold at an average price of $23.81, for a total value of $125,383.46.

Symbotic Stock Down 4.1 %

Shares of NASDAQ:SYM traded down $1.16 during trading on Friday, hitting $27.42. The stock had a trading volume of 1,433,501 shares, compared to its average volume of 1,599,124. Symbotic Inc. has a 12 month low of $17.11 and a 12 month high of $59.82. The company has a market capitalization of $16.06 billion, a PE ratio of -144.32 and a beta of 1.84. The firm’s fifty day moving average is $23.72 and its 200 day moving average is $32.50.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Monday, July 29th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Symbotic had a positive return on equity of 4.08% and a negative net margin of 1.03%. The business had revenue of $491.86 million during the quarter, compared to analysts’ expectations of $464.56 million. During the same quarter last year, the company posted ($0.07) EPS. Symbotic’s revenue for the quarter was up 57.7% compared to the same quarter last year. Equities research analysts expect that Symbotic Inc. will post -0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Symbotic

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Symbotic by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock worth $109,189,000 after buying an additional 345,386 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Symbotic by 191.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock valued at $27,281,000 after buying an additional 509,700 shares during the last quarter. Blair William & Co. IL lifted its holdings in shares of Symbotic by 418.1% during the 1st quarter. Blair William & Co. IL now owns 33,365 shares of the company’s stock valued at $1,501,000 after buying an additional 26,925 shares during the period. Comerica Bank boosted its stake in shares of Symbotic by 1,347.0% in the 1st quarter. Comerica Bank now owns 16,641 shares of the company’s stock worth $749,000 after buying an additional 15,491 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Symbotic by 6,694.5% in the second quarter. Millennium Management LLC now owns 335,649 shares of the company’s stock worth $11,801,000 after acquiring an additional 330,709 shares during the period.

Analysts Set New Price Targets

A number of brokerages recently commented on SYM. Cantor Fitzgerald restated an “overweight” rating and set a $60.00 price target on shares of Symbotic in a research note on Friday, October 11th. BWS Financial restated a “sell” rating and issued a $10.00 price objective on shares of Symbotic in a research report on Friday, October 11th. Northland Securities decreased their target price on shares of Symbotic from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. Vertical Research initiated coverage on shares of Symbotic in a research report on Tuesday, July 23rd. They set a “hold” rating and a $45.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Symbotic from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $43.23.

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.