Lattice Capital Management LLC Sells 5,500 Shares of Symbotic Inc. (NASDAQ:SYM)

Lattice Capital Management LLC decreased its position in Symbotic Inc. (NASDAQ:SYM) by 35.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 10,000 shares of the company’s stock after selling 5,500 shares during the period. Symbotic comprises approximately 0.2% of Lattice Capital Management LLC’s portfolio, making the stock its 24th biggest holding. Lattice Capital Management LLC’s holdings in Symbotic were worth $244,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Castleview Partners LLC lifted its holdings in Symbotic by 50.0% in the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after buying an additional 500 shares during the period. RFP Financial Group LLC lifted its stake in Symbotic by 22.4% in 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 during the period. Quarry LP bought a new stake in Symbotic in the second quarter valued at $65,000. Arcadia Investment Management Corp MI purchased a new position in Symbotic during the 3rd quarter valued at $49,000. Finally, RiverPark Advisors LLC raised its holdings in Symbotic by 147.1% in the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after purchasing an additional 1,211 shares in the last quarter.

Insider Transactions at Symbotic

In other Symbotic news, insider Michael David Dunn sold 1,715 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $28.77, for a total transaction of $49,340.55. Following the sale, the insider now owns 87,922 shares in the company, valued at approximately $2,529,515.94. This trade represents a 1.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Carol J. Hibbard sold 22,821 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total transaction of $660,896.16. Following the completion of the sale, the chief financial officer now directly owns 34,188 shares of the company’s stock, valued at approximately $990,084.48. This trade represents a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,878 shares of company stock worth $1,378,056 in the last quarter. Company insiders own 38.30% of the company’s stock.

Symbotic Stock Down 35.8 %

Shares of Symbotic stock opened at $24.00 on Thursday. Symbotic Inc. has a twelve month low of $17.11 and a twelve month high of $59.82. The company has a market cap of $14.05 billion, a price-to-earnings ratio of -400.00 and a beta of 1.81. The company’s 50 day moving average is $28.96 and its 200 day moving average is $30.77.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SYM. Robert W. Baird cut their target price on shares of Symbotic from $53.00 to $41.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. BWS Financial reissued a “sell” rating and issued a $10.00 target price on shares of Symbotic in a research report on Tuesday, November 19th. Northland Securities lifted 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. DA Davidson lowered Symbotic from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $50.00 to $35.00 in a research report on Wednesday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $60.00 target price on shares of Symbotic in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.69.

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.