Financial Architects Inc Makes New $6.14 Million Investment in Latch, Inc. (NASDAQ:LTCH)

Financial Architects Inc purchased a new stake in shares of Latch, Inc. (NASDAQ:LTCH) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 500,000 shares of the company’s stock, valued at approximately $6,135,000. Latch makes up approximately 0.9% of Financial Architects Inc’s investment portfolio, making the stock its 28th biggest position. Financial Architects Inc owned about 0.35% of Latch as of its most recent SEC filing.

Separately, Thompson Siegel & Walmsley LLC bought a new position in shares of Latch during the 2nd quarter valued at about $908,000. Hedge funds and other institutional investors own 33.70% of the company’s stock.

Shares of LTCH traded up $0.60 during trading hours on Wednesday, hitting $13.75. 10,957 shares of the company were exchanged, compared to its average volume of 971,430. The company’s 50 day simple moving average is $12.16. Latch, Inc. has a 52 week low of $9.46 and a 52 week high of $19.70.

A number of research firms have recently issued reports on LTCH. Cantor Fitzgerald began coverage on shares of Latch in a research report on Thursday, July 1st. They issued an “overweight” rating and a $19.00 price target for the company. William Blair initiated coverage on shares of Latch in a report on Friday, July 9th. They set an “outperform” rating and a $12.43 price target on the stock. The Goldman Sachs Group initiated coverage on Latch in a report on Thursday, July 29th. They set a “buy” rating and a $18.00 price objective for the company. KeyCorp started coverage on Latch in a research note on Tuesday, August 17th. They issued a “sector weight” rating on the stock. Finally, Zacks Investment Research downgraded Latch from a “hold” rating to a “sell” rating in a research note on Wednesday, September 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $15.86.

Latch Profile

Latch, Inc makes spaces better places to live, work, and visit through a system of software, devices, and services in the United States. Its products include LatchOS for Commercial Office, a commercial solution that would extend smart access, visitor and delivery management, smart device and sensor control, connectivity, and identity and personalization solutions to meet the needs of modern office spaces; Latch Visitor Express, a contactless visitor entry system; The Latch Lens Partner Program that enables access device partners to leverage Latch's software and Latch Lens; LatchID, an identification system that creates a network of users, across spaces, and devices; and Latch C2, a smart access solution for retrofits and new construction.

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Institutional Ownership by Quarter for Latch (NASDAQ:LTCH)

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