Barry Canton Sells 37,650 Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Stock

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) major shareholder Barry Canton sold 37,650 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $2.22, for a total value of $83,583.00. Following the completion of the transaction, the insider now owns 12,976,954 shares in the company, valued at approximately $28,808,837.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Barry Canton also recently made the following trade(s):

• On Wednesday, August 23rd, Barry Canton sold 37,650 shares of Ginkgo Bioworks stock. The shares were sold at an average price of $1.74, for a total value of $65,511.00.
• On Wednesday, August 2nd, Barry Canton sold 37,650 shares of Ginkgo Bioworks stock. The shares were sold at an average price of $2.07, for a total value of $77,935.50.
• On Wednesday, July 26th, Barry Canton sold 37,650 shares of Ginkgo Bioworks stock. The stock was sold at an average price of $2.38, for a total transaction of $89,607.00.
• On Wednesday, July 12th, Barry Canton sold 37,650 shares of Ginkgo Bioworks stock. The stock was sold at an average price of $2.09, for a total transaction of $78,688.50.
• On Wednesday, July 5th, Barry Canton sold 37,650 shares of Ginkgo Bioworks stock. The stock was sold at an average price of $1.81, for a total transaction of $68,146.50.
• On Wednesday, June 28th, Barry Canton sold 37,650 shares of Ginkgo Bioworks stock. The stock was sold at an average price of $1.70, for a total transaction of $64,005.00.
• On Wednesday, June 14th, Barry Canton sold 37,650 shares of Ginkgo Bioworks stock. The shares were sold at an average price of $1.95, for a total value of $73,417.50.

Ginkgo Bioworks Price Performance

NYSE:DNA opened at $2.25 on Friday. The firm’s fifty day moving average price is $2.00 and its 200 day moving average price is $1.64. Ginkgo Bioworks Holdings, Inc. has a 1-year low of $1.12 and a 1-year high of $3.52. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of -3.17 and a beta of 1.17.

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Ginkgo Bioworks

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its position in Ginkgo Bioworks by 26.5% during the 2nd quarter. California State Teachers Retirement System now owns 1,344,165 shares of the company’s stock worth $2,500,000 after purchasing an additional 281,683 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of Ginkgo Bioworks by 23.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,589,663 shares of the company’s stock valued at $6,677,000 after purchasing an additional 677,284 shares in the last quarter. GTS Securities LLC purchased a new position in shares of Ginkgo Bioworks in the 2nd quarter valued at about $419,000. Alliancebernstein L.P. increased its holdings in shares of Ginkgo Bioworks by 82.1% in the 2nd quarter. Alliancebernstein L.P. now owns 411,015 shares of the company’s stock valued at $764,000 after purchasing an additional 185,260 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Ginkgo Bioworks by 37.7% in the 2nd quarter. Wells Fargo & Company MN now owns 86,766 shares of the company’s stock valued at $161,000 after purchasing an additional 23,750 shares in the last quarter. Institutional investors and hedge funds own 56.84% of the company’s stock.

Ginkgo Bioworks Company Profile

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.