Erste Asset Management GmbH Sells 200,000 Shares of Ginkgo Bioworks Holdings, Inc. $DNA

Erste Asset Management GmbH lowered its stake in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) by 9.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,000,000 shares of the company’s stock after selling 200,000 shares during the period. Erste Asset Management GmbH owned 3.30% of Ginkgo Bioworks worth $16,620,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in DNA. Millennium Management LLC boosted its position in Ginkgo Bioworks by 113.1% in the first quarter. Millennium Management LLC now owns 1,427,600 shares of the company’s stock valued at $8,137,000 after buying an additional 757,535 shares in the last quarter. Prescott Group Capital Management L.L.C. acquired a new stake in Ginkgo Bioworks in the fourth quarter valued at approximately $4,503,000. Northwestern Mutual Wealth Management Co. boosted its position in Ginkgo Bioworks by 28,457.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 228,744 shares of the company’s stock valued at $1,901,000 after buying an additional 227,943 shares in the last quarter. UBS Group AG boosted its position in Ginkgo Bioworks by 86.4% in the fourth quarter. UBS Group AG now owns 489,418 shares of the company’s stock valued at $4,067,000 after buying an additional 226,861 shares in the last quarter. Finally, Allianz Asset Management GmbH acquired a new stake in Ginkgo Bioworks in the third quarter valued at approximately $2,802,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on DNA. Weiss Ratings restated a “sell (d-)” rating on shares of Ginkgo Bioworks in a research report on Monday, April 20th. Wall Street Zen lowered shares of Ginkgo Bioworks from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, BTIG Research cut their target price on shares of Ginkgo Bioworks from $9.00 to $5.00 and set a “sell” rating on the stock in a research report on Thursday, March 12th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, Ginkgo Bioworks currently has a consensus rating of “Reduce” and an average price target of $8.50.

Ginkgo Bioworks Stock Performance

Shares of NYSE:DNA opened at $8.08 on Tuesday. The firm has a market cap of $527.46 million, a PE ratio of -1.51 and a beta of 1.79. The firm’s fifty day moving average is $7.96 and its 200-day moving average is $8.36. Ginkgo Bioworks Holdings, Inc. has a 52 week low of $5.37 and a 52 week high of $17.58.

Insider Buying and Selling at Ginkgo Bioworks

In other news, major shareholder Barry Canton sold 124,727 shares of Ginkgo Bioworks stock in a transaction on Friday, April 10th. The shares were sold at an average price of $6.43, for a total transaction of $801,994.61. Following the transaction, the insider owned 436,422 shares in the company, valued at approximately $2,806,193.46. The trade was a 22.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jason R. Kelly sold 109,767 shares of Ginkgo Bioworks stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $6.40, for a total transaction of $702,508.80. Following the transaction, the insider owned 316,483 shares in the company, valued at approximately $2,025,491.20. This trade represents a 25.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 543,288 shares of company stock worth $3,551,556 in the last three months. 12.69% of the stock is currently owned by company insiders.

Ginkgo Bioworks Company Profile

Ginkgo Bioworks, Inc is a synthetic biology company that designs custom microbes for customers across a range of industries. Utilizing a proprietary organism foundry platform, the company engineers cells to produce high-value chemicals, enzymes, and other biological materials. By integrating automation, data analytics and machine learning, Ginkgo Bioworks seeks to accelerate the development of biologically derived solutions at industrial scale.

The company’s services span the entire development cycle, from genetic design and strain optimization to fermentation and downstream processing.