Michael David Dunn Sells 2,040 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 2,040 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $22.24, for a total value of $45,369.60. Following the transaction, the insider now directly owns 23,822 shares of the company’s stock, valued at approximately $529,801.28. This represents a 7.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, January 30th, Michael David Dunn sold 1,971 shares of Symbotic stock. The shares were sold at an average price of $30.00, for a total value of $59,130.00.
• On Friday, January 24th, Michael David Dunn sold 3,635 shares of Symbotic stock. The stock was sold at an average price of $33.28, for a total value of $120,972.80.
• On Thursday, January 16th, Michael David Dunn sold 13,114 shares of Symbotic stock. The shares were 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 shares were sold at an average price of $24.60, for a total transaction of $131,979.00.

Symbotic Price Performance

Shares of NASDAQ SYM opened at $17.50 on Friday. Symbotic Inc. has a 1 year low of $16.32 and a 1 year high of $48.98. The stock has a market capitalization of $10.30 billion, a P/E ratio of -249.96, a P/E/G ratio of 6.48 and a beta of 1.85. The company has a 50-day moving average price of $24.28 and a 200-day moving average price of $26.61.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. As a group, equities research analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Symbotic

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Market Strategies LLC grew its position in Symbotic by 42.5% in the 1st quarter. Capital Market Strategies LLC now owns 48,162 shares of the company’s stock worth $973,000 after purchasing an additional 14,357 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Symbotic by 26.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 73,801 shares of the company’s stock valued at $1,750,000 after acquiring an additional 15,394 shares in the last quarter. Twinbeech Capital LP bought a new position in shares of Symbotic in the fourth quarter valued at approximately $480,000. Two Sigma Investments LP increased its position in shares of Symbotic by 26.2% during the fourth quarter. Two Sigma Investments LP now owns 321,622 shares of the company’s stock valued at $7,626,000 after acquiring an additional 66,755 shares during the last quarter. Finally, Tanaka Capital Management Inc. lifted its holdings in Symbotic by 68.7% during the fourth quarter. Tanaka Capital Management Inc. now owns 72,688 shares of the company’s stock worth $1,723,000 after acquiring an additional 29,596 shares during the period.

Analysts Set New Price Targets

SYM has been the topic of several recent analyst reports. The Goldman Sachs Group dropped their target price on shares of Symbotic from $28.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. UBS Group dropped their price objective on Symbotic from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. BWS Financial reaffirmed a “sell” rating and set a $10.00 target price on shares of Symbotic in a research note on Wednesday. Oppenheimer initiated 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. Finally, Citigroup reaffirmed a “buy” rating and set a $37.00 price objective on shares of Symbotic in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $38.20.

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.