Symbotic Inc. (NASDAQ:SYM – Get Free Report) insider Michael David Dunn sold 1,747 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $40.08, for a total value of $70,019.76. Following the completion of the sale, the insider now owns 74,032 shares of the company’s stock, valued at approximately $2,967,202.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Michael David Dunn also recently made the following trade(s):
- On Tuesday, April 2nd, Michael David Dunn sold 5,444 shares of Symbotic stock. The shares were sold at an average price of $43.29, for a total value of $235,670.76.
- On Tuesday, January 30th, Michael David Dunn sold 7,051 shares of Symbotic stock. The shares were sold at an average price of $45.00, for a total value of $317,295.00.
Symbotic Stock Down 2.2 %
SYM traded down $0.88 during midday trading on Thursday, hitting $39.55. 1,112,370 shares of the company traded hands, compared to its average volume of 1,418,578. The firm has a market capitalization of $22.82 billion, a PE ratio of -146.37 and a beta of 1.91. The company’s 50-day moving average is $43.30 and its 200 day moving average is $44.25. Symbotic Inc. has a 52 week low of $22.40 and a 52 week high of $64.14.
Wall Street Analyst Weigh In
SYM has been the subject of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $60.00 target price on shares of Symbotic in a report on Tuesday, February 6th. Northland Securities upped their target price on Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Needham & Company LLC decreased their target price on Symbotic from $58.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. The Goldman Sachs Group decreased their price objective on Symbotic from $51.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. Finally, KeyCorp decreased their price objective on Symbotic from $63.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Symbotic has an average rating of “Moderate Buy” and an average price target of $54.00.
Check Out Our Latest Research Report on Symbotic
Institutional Investors Weigh In On Symbotic
Several hedge funds and other institutional investors have recently made changes to their positions in SYM. 1832 Asset Management L.P. increased its holdings in Symbotic by 189.5% in the 4th quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company’s stock worth $54,174,000 after acquiring an additional 690,900 shares in the last quarter. Coatue Management LLC purchased a new stake in Symbotic in the 4th quarter worth approximately $11,088,000. Hodges Capital Management Inc. purchased a new stake in Symbotic in the 3rd quarter worth approximately $5,740,000. First Trust Advisors LP increased its holdings in Symbotic by 44.0% in the 4th quarter. First Trust Advisors LP now owns 510,237 shares of the company’s stock worth $26,190,000 after acquiring an additional 155,828 shares in the last quarter. Finally, First Dallas Securities Inc. purchased a new stake in Symbotic in the 3rd quarter worth approximately $3,784,000.
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.
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