Symbotic Inc. (NASDAQ:SYM) Insider Michael David Dunn Sells 5,000 Shares

Posted by Defense World Staff on May 16th, 2023

Symbotic Inc. (NASDAQ:SYM – Get Rating) insider Michael David Dunn sold 5,000 shares of Symbotic stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $27.58, for a total value of $137,900.00. Following the completion of the sale, the insider now directly owns 139,522 shares in the company, valued at $3,848,016.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

On Monday, April 3rd, Michael David Dunn sold 2,815 shares of Symbotic stock. The stock was sold at an average price of $23.29, for a total value of $65,561.35.
On Wednesday, March 1st, Michael David Dunn sold 700 shares of Symbotic stock. The stock was sold at an average price of $16.55, for a total value of $11,585.00.
On Monday, February 27th, Michael David Dunn sold 12,593 shares of Symbotic stock. The stock was sold at an average price of $16.71, for a total value of $210,429.03.
On Friday, February 24th, Michael David Dunn sold 12,639 shares of Symbotic stock. The stock was sold at an average price of $16.61, for a total value of $209,933.79.
On Wednesday, February 22nd, Michael David Dunn sold 20,579 shares of Symbotic stock. The stock was sold at an average price of $16.98, for a total value of $349,431.42.

Symbotic Price Performance

Shares of NASDAQ:SYM opened at $24.60 on Tuesday. The firm has a market capitalization of $13.67 billion, a PE ratio of -70.94 and a beta of 1.31. The business has a 50 day simple moving average of $24.03 and a two-hundred day simple moving average of $16.99. Symbotic Inc. has a 1 year low of $8.75 and a 1 year high of $32.17.

Symbotic (NASDAQ:SYM – Get Rating) last announced its quarterly earnings results on Monday, May 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). The firm had revenue of $266.85 million during the quarter, compared to analysts’ expectations of $224.82 million. Symbotic had a negative net margin of 2.26% and a negative return on equity of 78.17%. The firm’s revenue for the quarter was up 177.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($5.61) EPS. Equities research analysts expect that Symbotic Inc. will post -0.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Raymond James boosted their price objective on Symbotic from $23.00 to $35.00 in a research note on Tuesday, May 2nd. Cantor Fitzgerald boosted their price objective on Symbotic from $24.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, April 20th. Deutsche Bank Aktiengesellschaft boosted their price objective on Symbotic from $22.00 to $31.00 in a research note on Tuesday, May 2nd. Citigroup boosted their price objective on Symbotic from $16.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, April 10th. Finally, Craig Hallum assumed coverage on Symbotic in a research note on Monday, April 17th. They set a “buy” rating and a $35.00 price objective on the stock. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Symbotic has a consensus rating of “Moderate Buy” and an average target price of $27.23.

Institutional Trading of Symbotic

Large investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. purchased a new stake in shares of Symbotic in the fourth quarter valued at approximately $29,000. Toronto Dominion Bank purchased a new stake in shares of Symbotic in the fourth quarter valued at approximately $36,000. Altshuler Shaham Ltd purchased a new stake in shares of Symbotic in the third quarter valued at approximately $50,000. Advisor Group Holdings Inc. lifted its holdings in Symbotic by 30.4% during the fourth quarter. Advisor Group Holdings Inc. now owns 4,299 shares of the company’s stock worth $52,000 after buying an additional 1,002 shares during the period. Finally, Arcadia Investment Management Corp MI purchased a new stake in Symbotic during the first quarter worth $58,000. Hedge funds and other institutional investors own 57.76% of the company’s stock.

Symbotic Company Profile

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Symbotic Inc, an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. The company offers Symbotic system, an end-to-end warehouse automation system for product distribution. It also designs, assemblies, and installs modular inventory management systems and performs configuration of embedded software.