Michael David Dunn, Senior Vice President of Sales, Marketing & Product Strategy at Symbotic Inc. (NASDAQ:SYM), recently sold shares of the company worth $422,151. The transaction, executed on January 16, 2025, involved the sale of 13,114 shares of Class A Common Stock at prices ranging from $31.75 to $32.50 per share.
Following the sale, Dunn holds 18,746 shares indirectly through the Dunn Family Holding LLC. This transaction was carried out under a trading plan established on September 6, 2024, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. Dunn is considered the beneficial owner of the securities held by the LLC, although he disclaims beneficial ownership beyond his pecuniary interest.
In other recent news, Symbotic Inc. has made significant strides in its business operations. The company has announced a strategic acquisition of Walmart (NYSE:WMT)'s Advanced Systems and Robotics business, a move that is expected to add more than $5 billion to Symbotic's future backlog. This agreement also entails Symbotic developing and deploying an advanced solution to automate Walmart's Accelerated Pickup and Delivery centers.
In addition to this, Symbotic's stock rating has been the subject of several analyst updates. Oppenheimer has assigned the stock an Outperform rating with a $35 price target, while Citi has resumed coverage on the stock with a Buy rating and a price target of $37. Despite some accounting errors, DA Davidson has upgraded Symbotic's rating from Neutral to Buy. However, TD Cowen adjusted its price target down to $45, while maintaining its Buy rating on the stock.
These are the recent developments in the company's operations. Symbotic also reported a 52% revenue growth over the last year, reaching $1.79 billion. The company also experienced a 55% year-over-year increase in Q4 revenue, totaling $577 million, and expects a 40% year-over-year increase for Q1 2025. These financial figures are crucial for investors looking to understand the company's performance.
The various analyst ratings and financial data provide a snapshot of Symbotic's current standing in the market. However, these are merely recent developments and should not be taken as a comprehensive view of the company's overall performance or future prospects.
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