Raymond James & Associates Sells 13,919 Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Raymond James & Associates lowered its holdings in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) by 7.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 179,670 shares of the company’s stock after selling 13,919 shares during the period. Raymond James & Associates’ holdings in Ginkgo Bioworks were worth $304,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Ginkgo Bioworks by 3.1% in the third quarter. Vanguard Group Inc. now owns 132,316,999 shares of the company’s stock valued at $239,494,000 after acquiring an additional 4,016,221 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Ginkgo Bioworks by 15.7% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 58,746,160 shares of the company’s stock valued at $106,331,000 after acquiring an additional 7,958,613 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Ginkgo Bioworks by 26.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,418,397 shares of the company’s stock valued at $13,427,000 after acquiring an additional 1,554,080 shares during the period. Welch & Forbes LLC acquired a new stake in Ginkgo Bioworks in the third quarter valued at approximately $12,670,000. Finally, Nordea Investment Management AB grew its stake in Ginkgo Bioworks by 5.2% in the fourth quarter. Nordea Investment Management AB now owns 4,412,457 shares of the company’s stock valued at $7,435,000 after acquiring an additional 216,434 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on DNA. The Goldman Sachs Group reduced their price objective on Ginkgo Bioworks from $1.25 to $1.10 and set a “sell” rating for the company in a research note on Monday, January 22nd. TD Cowen dropped their target price on Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $2.20.

Insider Buying and Selling

In related news, insider Mark E. Dmytruk sold 51,169 shares of Ginkgo Bioworks stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1.05, for a total transaction of $53,727.45. Following the sale, the insider now directly owns 865,079 shares in the company, valued at $908,332.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ginkgo Bioworks news, insider Mark E. Dmytruk sold 39,569 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $1.21, for a total value of $47,878.49. Following the completion of the sale, the insider now directly owns 761,737 shares of the company’s stock, valued at $921,701.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark E. Dmytruk sold 51,169 shares of Ginkgo Bioworks stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $1.05, for a total value of $53,727.45. Following the completion of the transaction, the insider now owns 865,079 shares of the company’s stock, valued at $908,332.95. The disclosure for this sale can be found here. 15.05% of the stock is currently owned by corporate insiders.

Ginkgo Bioworks Stock Up 10.6 %

DNA stock opened at $0.86 on Monday. Ginkgo Bioworks Holdings, Inc. has a twelve month low of $0.74 and a twelve month high of $2.55. The stock’s 50 day moving average is $1.13 and its 200-day moving average is $1.34. The firm has a market capitalization of $1.85 billion, a PE ratio of -1.83 and a beta of 1.35.

Ginkgo Bioworks (NYSE:DNA) last posted its earnings results on Thursday, February 29th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The company had revenue of $34.76 million during the quarter, compared to the consensus estimate of $40.37 million. Ginkgo Bioworks had a negative net margin of 355.08% and a negative return on equity of 48.23%. The firm’s revenue for the quarter was down 64.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.04) EPS. On average, equities research analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -0.32 earnings per share for the current fiscal year.

Ginkgo Bioworks Profile

Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming in the United States. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. It serves pharma and biotech, agriculture, industrial and environment, food and nutrition, consumer and technology, and government and defense industries.