Park Avenue Securities LLC Sells 2,967 Shares of Illumina, Inc. (NASDAQ:ILMN)

Park Avenue Securities LLC decreased its holdings in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 32.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,038 shares of the life sciences company's stock after selling 2,967 shares during the period. Park Avenue Securities LLC's holdings in Illumina were worth $479,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC bought a new stake in Illumina in the fourth quarter valued at approximately $40,000. Assetmark Inc. increased its stake in shares of Illumina by 954.8% during the fourth quarter. Assetmark Inc. now owns 327 shares of the life sciences company's stock worth $44,000 after purchasing an additional 296 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Illumina during the fourth quarter worth approximately $45,000. Lee Danner & Bass Inc. bought a new position in shares of Illumina during the fourth quarter worth approximately $48,000. Finally, V Square Quantitative Management LLC increased its stake in shares of Illumina by 50.6% during the fourth quarter. V Square Quantitative Management LLC now owns 393 shares of the life sciences company's stock worth $52,000 after purchasing an additional 132 shares during the period. Institutional investors own 89.42% of the company's stock.

Insider Activity

In other news, CFO Ankur Dhingra bought 6,100 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was purchased at an average price of $81.21 per share, with a total value of $495,381.00. Following the transaction, the chief financial officer now owns 24,906 shares of the company's stock, valued at approximately $2,022,616.26. The trade was a 32.44% increase 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. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ILMN has been the topic of a number of recent research reports. Robert W. Baird lowered their target price on Illumina from $127.00 to $90.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 5th. Morgan Stanley lowered their target price on Illumina from $136.00 to $100.00 and set an "equal weight" rating on the stock in a research note on Monday, May 12th. Hsbc Global Res lowered Illumina from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 28th. Guggenheim lowered their target price on Illumina from $122.00 to $114.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Finally, Barclays lowered their target price on Illumina from $100.00 to $77.00 and set an "underweight" rating on the stock in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Illumina presently has an average rating of "Moderate Buy" and a consensus price target of $126.94.

Illumina Price Performance

Shares of ILMN stock traded down $1.20 during trading hours on Friday, reaching $86.93. The company's stock had a trading volume of 1,612,726 shares, compared to its average volume of 2,282,496. The firm's 50 day simple moving average is $79.08 and its 200-day simple moving average is $102.64. The company has a market capitalization of $13.76 billion, a price-to-earnings ratio of -11.32, a PEG ratio of 1.60 and a beta of 1.32. Illumina, Inc. has a fifty-two week low of $68.70 and a fifty-two week high of $156.66. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01. Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company earned $0.98 EPS. Illumina's revenue for the quarter was down 1.4% compared to the same quarter last year. Sell-side analysts forecast that Illumina, Inc. will post 4.51 earnings per share for the current year.

Illumina Company Profile

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.