Vanguard Personalized Indexing Management LLC Sells 36,156 Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Posted by Defense World Staff on Sep 4th, 2023

Vanguard Personalized Indexing Management LLC cut its holdings in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Free Report) by 44.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,595 shares of the company’s stock after selling 36,156 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Ginkgo Bioworks were worth $59,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its stake in shares of Ginkgo Bioworks by 41.7% during the fourth quarter. Arizona State Retirement System now owns 231,517 shares of the company’s stock valued at $391,000 after purchasing an additional 68,077 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Ginkgo Bioworks in the 1st quarter valued at $50,000. Green Alpha Advisors LLC bought a new position in shares of Ginkgo Bioworks in the 1st quarter worth $120,000. 626 Financial LLC lifted its stake in shares of Ginkgo Bioworks by 52.7% during the 1st quarter. 626 Financial LLC now owns 70,762 shares of the company’s stock worth $94,000 after purchasing an additional 24,415 shares during the last quarter. Finally, Powell Investment Advisors LLC bought a new stake in Ginkgo Bioworks during the first quarter valued at about $57,000. 56.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on DNA shares. Raymond James reduced their target price on shares of Ginkgo Bioworks from $5.00 to $3.50 and set an “outperform” rating for the company in a report on Thursday. The Goldman Sachs Group lowered shares of Ginkgo Bioworks from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $3.00 to $1.25 in a research note on Friday, June 2nd. Finally, William Blair downgraded shares of Ginkgo Bioworks from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $3.75.

View Our Latest Analysis on DNA

Ginkgo Bioworks Stock Performance

Shares of DNA stock opened at $2.25 on Monday. Ginkgo Bioworks Holdings, Inc. has a fifty-two week low of $1.12 and a fifty-two week high of $3.52. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of -3.17 and a beta of 1.17. The stock’s 50-day simple moving average is $2.00 and its 200-day simple moving average is $1.63.

Ginkgo Bioworks (NYSE:DNA – Get Free Report) last issued its quarterly earnings results on Wednesday, August 9th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.09). The business had revenue of $80.57 million for the quarter, compared to analyst estimates of $70.41 million. Ginkgo Bioworks had a negative net margin of 375.48% and a negative return on equity of 66.58%. As a group, equities analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -0.34 earnings per share for the current year.

Insider Activity at Ginkgo Bioworks

In other Ginkgo Bioworks news, insider Reshma P. Shetty sold 37,650 shares of Ginkgo Bioworks stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $2.47, for a total transaction of $92,995.50. Following the completion of the sale, the insider now owns 13,202,854 shares of the company’s stock, valued at approximately $32,611,049.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Ginkgo Bioworks news, insider Reshma P. Shetty sold 37,650 shares of Ginkgo Bioworks stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $2.47, for a total transaction of $92,995.50. Following the completion of the sale, the insider now directly owns 13,202,854 shares in the company, valued at approximately $32,611,049.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Christian O. Henry sold 39,007 shares of the company’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $1.84, for a total transaction of $71,772.88. Following the completion of the sale, the director now directly owns 1,256,874 shares in the company, valued at $2,312,648.16. The disclosure for this sale can be found here. Insiders have sold a total of 1,324,611 shares of company stock valued at $2,616,574 in the last ninety days. Company insiders own 15.05% of the company’s stock.

About Ginkgo Bioworks

(Free Report)

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.