Vanguard Personalized Indexing Management LLC Cuts Position in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Posted by Defense World Staff on Jun 2nd, 2023

Vanguard Personalized Indexing Management LLC lessened its holdings in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Rating) by 28.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 80,751 shares of the company’s stock after selling 31,961 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Ginkgo Bioworks were worth $136,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Phillips Financial Management LLC bought a new position in Ginkgo Bioworks during the fourth quarter valued at approximately $25,000. Private Advisor Group LLC bought a new position in Ginkgo Bioworks during the fourth quarter valued at approximately $25,000. Kestra Private Wealth Services LLC bought a new position in Ginkgo Bioworks during the fourth quarter valued at approximately $25,000. Itau Unibanco Holding S.A. bought a new position in Ginkgo Bioworks during the third quarter valued at approximately $30,000. Finally, Clarius Group LLC purchased a new stake in Ginkgo Bioworks during the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 61.83% of the company’s stock.

Insider Buying and Selling at Ginkgo Bioworks

In other Ginkgo Bioworks news, major shareholder Barry Canton sold 75,300 shares of the stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $1.33, for a total transaction of $100,149.00. Following the completion of the transaction, the insider now owns 13,918,194 shares in the company, valued at $18,511,198.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Reshma P. Shetty sold 37,650 shares of the firm’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $1.19, for a total value of $44,803.50. Following the completion of the sale, the insider now owns 13,616,994 shares in the company, valued at approximately $16,204,222.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Barry Canton sold 75,300 shares of the firm’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $1.33, for a total transaction of $100,149.00. Following the completion of the sale, the insider now owns 13,918,194 shares of the company’s stock, valued at approximately $18,511,198.02. The disclosure for this sale can be found here. Insiders sold 762,604 shares of company stock worth $1,038,501 over the last 90 days. 17.47% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on DNA. BTIG Research reduced their target price on shares of Ginkgo Bioworks from $4.00 to $3.00 in a report on Sunday, March 5th. William Blair cut shares of Ginkgo Bioworks from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 11th. Finally, Raymond James reduced their price objective on shares of Ginkgo Bioworks from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Friday, March 3rd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $4.67.

Ginkgo Bioworks Stock Up 6.6 %

DNA opened at $1.69 on Friday. The company has a fifty day moving average of $1.33 and a 200 day moving average of $1.59. Ginkgo Bioworks Holdings, Inc. has a fifty-two week low of $1.12 and a fifty-two week high of $4.91.

Ginkgo Bioworks (NYSE:DNA – Get Rating) last released its quarterly earnings data on Wednesday, March 1st. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.26. Ginkgo Bioworks had a negative net margin of 440.87% and a negative return on equity of 97.13%. The business had revenue of $98.29 million during the quarter, compared to analyst estimates of $84.41 million. Sell-side analysts predict that Ginkgo Bioworks Holdings, Inc. will post -0.29 earnings per share for the current year.

Ginkgo Bioworks Profile

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Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. The company serves various end markets, including specialty chemicals, agriculture, food, consumer products, and pharmaceuticals.