Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Insider Reshma P. Shetty Sells 157,626 Shares of Stock

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Rating) insider Reshma P. Shetty sold 157,626 shares of the business’s stock in a transaction on Friday, January 13th. The stock was sold at an average price of $1.77, for a total transaction of $278,998.02. Following the completion of the sale, the insider now directly owns 16,649,035 shares in the company, valued at approximately $29,468,791.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Ginkgo Bioworks Stock Performance

NYSE DNA opened at $1.99 on Wednesday. The company has a current ratio of 11.71, a quick ratio of 11.67 and a debt-to-equity ratio of 0.04. The firm’s fifty day moving average price is $1.88 and its two-hundred day moving average price is $2.55. Ginkgo Bioworks Holdings, Inc. has a 1 year low of $1.45 and a 1 year high of $6.38. The firm has a market capitalization of $3.86 billion, a P/E ratio of -0.87 and a beta of 0.68.

Ginkgo Bioworks (NYSE:DNA – Get Rating) last released its quarterly earnings data on Monday, November 14th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.15). Ginkgo Bioworks had a negative net margin of 668.49% and a negative return on equity of 85.90%. The company had revenue of $66.40 million during the quarter, compared to analyst estimates of $54.28 million. As a group, research analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -1.41 EPS for the current year.

Hedge Funds Weigh In On Ginkgo Bioworks

Several institutional investors and hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. grew its stake in shares of Ginkgo Bioworks by 22.4% in the second quarter. Baillie Gifford & Co. now owns 205,327,786 shares of the company’s stock valued at $488,680,000 after acquiring an additional 37,575,106 shares in the last quarter. ARK Investment Management LLC grew its stake in shares of Ginkgo Bioworks by 45.2% in the third quarter. ARK Investment Management LLC now owns 126,818,856 shares of the company’s stock valued at $395,675,000 after acquiring an additional 39,460,799 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Ginkgo Bioworks by 41.7% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 30,981,948 shares of the company’s stock valued at $96,664,000 after acquiring an additional 9,123,775 shares in the last quarter. Nikko Asset Management Americas Inc. grew its stake in shares of Ginkgo Bioworks by 46.5% in the second quarter. Nikko Asset Management Americas Inc. now owns 21,858,173 shares of the company’s stock valued at $52,678,000 after acquiring an additional 6,937,185 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Ginkgo Bioworks by 6.3% in the third quarter. State Street Corp now owns 13,190,686 shares of the company’s stock valued at $41,155,000 after acquiring an additional 778,831 shares in the last quarter. 61.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Raymond James cut their price objective on shares of Ginkgo Bioworks from $10.50 to $6.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 22nd. BTIG Research cut their price objective on shares of Ginkgo Bioworks to $4.00 in a research report on Thursday, November 17th. Berenberg Bank assumed coverage on shares of Ginkgo Bioworks in a research report on Monday, November 28th. They issued a “buy” rating and a $6.00 price objective on the stock. Finally, Morgan Stanley initiated coverage on shares of Ginkgo Bioworks in a research report on Tuesday, October 4th. They issued an “equal weight” rating and a $5.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Ginkgo Bioworks presently has an average rating of “Hold” and an average price target of $5.92.

About Ginkgo Bioworks

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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.