D.A. Davidson & CO. Sells 18,711 Shares of Guardant Health, Inc. (NASDAQ:GH)

D.A. Davidson & CO. cut its stake in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 44.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,669 shares of the company's stock after selling 18,711 shares during the period. D.A. Davidson & CO.'s holdings in Guardant Health were worth $1,008,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GH. Vanguard Group Inc. grew its position in Guardant Health by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 12,052,551 shares of the company's stock worth $368,205,000 after buying an additional 350,606 shares during the period. Deep Track Capital LP boosted its position in Guardant Health by 7.0% during the fourth quarter. Deep Track Capital LP now owns 6,419,566 shares of the company's stock worth $196,118,000 after acquiring an additional 419,006 shares during the last quarter. Two Sigma Advisers LP raised its stake in Guardant Health by 96.7% during the fourth quarter. Two Sigma Advisers LP now owns 2,315,600 shares of the company's stock worth $70,742,000 after purchasing an additional 1,138,300 shares during the period. Two Sigma Investments LP raised its stake in Guardant Health by 38.5% during the fourth quarter. Two Sigma Investments LP now owns 1,890,714 shares of the company's stock worth $57,761,000 after purchasing an additional 525,368 shares during the period. Finally, Nikko Asset Management Americas Inc. raised its stake in Guardant Health by 15.6% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 1,464,213 shares of the company's stock worth $44,732,000 after purchasing an additional 197,729 shares during the period. 92.60% of the stock is owned by hedge funds and other institutional investors.

Guardant Health Stock Performance

Shares of NASDAQ GH traded down $1.04 during midday trading on Friday, hitting $50.25. The company's stock had a trading volume of 1,195,207 shares, compared to its average volume of 2,171,123. Guardant Health, Inc. has a 1-year low of $20.14 and a 1-year high of $53.42. The firm's fifty day moving average price is $45.70 and its 200-day moving average price is $43.78. The firm has a market cap of $6.23 billion, a P/E ratio of -14.82 and a beta of 1.44.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.08. The business had revenue of $203.47 million during the quarter, compared to analyst estimates of $189.91 million. The company's quarterly revenue was up 20.8% on a year-over-year basis. During the same period last year, the firm posted ($0.46) earnings per share. As a group, research analysts predict that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GH has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price target on shares of Guardant Health from $53.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. TD Securities raised their target price on shares of Guardant Health from $56.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Canaccord Genuity Group raised their target price on shares of Guardant Health from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Piper Sandler reissued an "overweight" rating and issued a $60.00 target price (up previously from $50.00) on shares of Guardant Health in a research note on Tuesday, May 6th. Finally, UBS Group raised their target price on shares of Guardant Health from $65.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Twenty-one research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $53.76.

Insiders Place Their Bets

In other news, Director Myrtle S. Potter sold 2,626 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $49.70, for a total transaction of $130,512.20. Following the sale, the director owned 18,180 shares in the company, valued at $903,546. The trade was a 12.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Musa Tariq sold 3,213 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $49.47, for a total transaction of $158,947.11. Following the completion of the transaction, the director owned 7,190 shares in the company, valued at approximately $355,689.30. This represents a 30.89% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 342,274 shares of company stock worth $17,080,589. Company insiders own 6.10% of the company's stock.

About Guardant Health

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.