Insider Selling: Symbotic Inc. (NASDAQ:SYM) Insider Sells $52,824.00 in Stock

Symbotic Inc. (NASDAQ:SYM) insider Michael David Dunn sold 1,200 shares of Symbotic stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $44.02, for a total transaction of $52,824.00. Following the completion of the sale, the insider now owns 70,832 shares of the company’s stock, valued at approximately $3,118,024.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, May 1st, Michael David Dunn sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $40.00, for a total transaction of $80,000.00.
• On Wednesday, April 24th, Michael David Dunn sold 1,747 shares of Symbotic stock. The shares were sold at an average price of $40.08, for a total transaction of $70,019.76.
• 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 transaction of $235,670.76.

Symbotic Price Performance

Shares of SYM opened at $40.91 on Monday. Symbotic Inc. has a 1-year low of $29.62 and a 1-year high of $64.14. The firm has a fifty day moving average price of $43.40 and a 200 day moving average price of $44.93.

Institutional Investors Weigh In On Symbotic

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. purchased a new stake in shares of Symbotic in the first quarter valued at about $426,752,000. 1832 Asset Management L.P. raised its holdings in shares of Symbotic by 189.5% in the fourth quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company’s stock valued at $54,174,000 after buying an additional 690,900 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Symbotic by 16.6% in the first quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock valued at $109,189,000 after buying an additional 345,386 shares during the last quarter. Zevenbergen Capital Investments LLC raised its holdings in shares of Symbotic by 1,826.2% in the first quarter. Zevenbergen Capital Investments LLC now owns 361,167 shares of the company’s stock valued at $16,253,000 after buying an additional 342,417 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Symbotic in the first quarter valued at about $12,219,000.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of Symbotic from $51.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $60.00 price target on shares of Symbotic in a research note on Tuesday, February 6th. Craig Hallum boosted their price target on shares of Symbotic from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Symbotic from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Finally, DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Wednesday, February 7th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.69.

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.