Michael David Dunn, the Senior Vice President of Sales, Marketing & Product Strategy at Symbotic Inc. (NASDAQ:SYM), recently sold shares of the company’s stock. According to an SEC filing, Dunn sold 5,365 shares on January 3, 2025, with prices ranging from $24.24 to $25.23 per share, amounting to a total transaction value of $131,963. This sale was conducted to cover tax withholding obligations related to the vesting of restricted stock units and was not a discretionary trade by Dunn. InvestingPro analysis indicates the stock is currently trading below its Fair Value, with analyst price targets ranging from $10 to $60.
In addition to the sale, Dunn acquired a total of 13,170 shares of Symbotic's Class A common stock through the vesting and settlement of restricted stock units. These acquisitions, recorded on January 1, 2025, were made without any direct purchase price, as they were part of his compensation package. Following these transactions, Dunn holds 21,992 shares indirectly through Dunn Family Holding LLC. The company has demonstrated strong revenue growth of 52% over the last twelve months, though InvestingPro subscribers can access 10+ additional key insights about Symbotic's financial health and growth prospects.
In other recent news, Symbotic Inc. has been the focus of several analyst reviews and company developments. TD Cowen recently adjusted its price target for Symbotic to $45, while maintaining a Buy rating, following a review of the company's financials. Despite the adjustment, Symbotic's revenue growth has been impressive, with a nearly 55% increase in the last twelve months. Analysts expect this growth to continue throughout the year.
KeyBanc Capital Markets, on the other hand, downgraded its rating on Symbotic from 'Overweight' to 'Sector Weight' due to additional accounting errors discovered by the company. These errors have led to a revision of financial projections for fiscal year 2024 and Q1 of fiscal year 2025. Despite the downgrade, KeyBanc maintains a positive outlook on Symbotic's long-term prospects.
DA Davidson also downgraded Symbotic shares from 'Buy' to 'Neutral' and revised the price target to $35 following the discovery of these financial errors. Nevertheless, Symbotic reported a 55% year-over-year increase in Q4 revenue, totaling $577 million, and ended the fiscal year with a total revenue of $1.8 billion.
In addition to these analyst adjustments, Symbotic has initiated construction on a second GreenBox facility in Georgia and announced a partnership with Walmart (NYSE:WMT) Mexico, projected to add approximately $400 million to the company's backlog. The company also anticipates a 40% year-over-year increase for the first quarter of 2025, bolstered by the acquisition of Veo Robotics. These are recent developments that could be of interest to investors.
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