Lattice Capital Management LLC Has $244,000 Stock Holdings in Symbotic Inc. (NASDAQ:SYM)

Lattice Capital Management LLC reduced its stake in Symbotic Inc. (NASDAQ:SYM) by 35.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,000 shares of the company’s stock after selling 5,500 shares during the period. Symbotic accounts for 0.2% of Lattice Capital Management LLC’s holdings, making the stock its 24th biggest holding. Lattice Capital Management LLC’s holdings in Symbotic were worth $244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Castleview Partners LLC increased its stake in Symbotic by 50.0% during the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after purchasing an additional 500 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Symbotic in the third quarter valued at $49,000. RiverPark Advisors LLC grew its holdings in shares of Symbotic by 147.1% during the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock valued at $50,000 after buying an additional 1,211 shares during the last quarter. RFP Financial Group LLC increased its position in shares of Symbotic by 22.4% during the second quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock worth $59,000 after acquiring an additional 310 shares in the last quarter. Finally, Quest Partners LLC increased its position in shares of Symbotic by 19,307.7% during the third quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock worth $62,000 after acquiring an additional 2,510 shares in the last quarter.

Symbotic Trading Down 35.8 %

SYM stock opened at $24.00 on Thursday. The firm has a 50 day moving average of $28.96 and a 200-day moving average of $30.77. The firm has a market capitalization of $14.05 billion, a P/E ratio of -400.00 and a beta of 1.81. Symbotic Inc. has a 12 month low of $17.11 and a 12 month high of $59.82.

Symbotic (NASDAQ:SYM) last posted its earnings results on Monday, November 18th. The company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. The business had revenue of $576.77 million during the quarter, compared to analysts’ expectations of $470.24 million. Symbotic had a positive return on equity of 6.54% and a negative net margin of 0.32%. The firm’s revenue was up 47.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.08) earnings per share. Sell-side analysts predict that Symbotic Inc. will post 0.2 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. DA Davidson cut shares of Symbotic from a “buy” rating to a “neutral” rating and dropped their price target for the company from $50.00 to $35.00 in a research report on Wednesday. Northland Securities increased their price target on Symbotic from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group dropped their price target on shares of Symbotic from $40.00 to $30.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Cantor Fitzgerald restated an “overweight” rating and set a $60.00 price target on shares of Symbotic in a research note on Tuesday, November 19th. Finally, Craig Hallum downgraded Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.69.

Insider Buying and Selling

In other news, Director Todd Krasnow sold 2,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $23.96, for a total transaction of $47,920.00. Following the transaction, the director now directly owns 2,000 shares in the company, valued at approximately $47,920. This represents a 50.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael David Dunn sold 5,266 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $23.81, for a total transaction of $125,383.46. Following the transaction, the insider now owns 85,224 shares in the company, valued at $2,029,183.44. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,878 shares of company stock worth $1,378,056. Insiders own 38.30% of the company’s stock.

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.