Guardant Health, Inc. (NASDAQ:GH) is Cadian Capital Management LP's 2nd Largest Position

Cadian Capital Management LP reduced its stake in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 25.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,221,565 shares of the company's stock after selling 1,786,409 shares during the quarter. Guardant Health accounts for approximately 9.2% of Cadian Capital Management LP's portfolio, making the stock its 2nd largest holding. Cadian Capital Management LP owned 4.23% of Guardant Health worth $159,519,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Guardant Health by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 12,052,551 shares of the company's stock worth $368,205,000 after purchasing an additional 350,606 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Guardant Health by 19.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,464,213 shares of the company's stock worth $44,732,000 after acquiring an additional 238,037 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its holdings in shares of Guardant Health by 15.6% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 1,464,213 shares of the company's stock worth $44,732,000 after acquiring an additional 197,729 shares during the period. Norges Bank purchased a new position in shares of Guardant Health in the fourth quarter valued at $36,438,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Guardant Health by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,016,533 shares of the company's stock valued at $31,055,000 after purchasing an additional 13,395 shares during the period. Institutional investors own 92.60% of the company's stock.

Insider Buying and Selling at Guardant Health

In other Guardant Health news, CEO Amirali Talasaz sold 106,784 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $49.01, for a total value of $5,233,483.84. Following the sale, the chief executive officer now directly owns 2,202,672 shares of the company's stock, valued at approximately $107,952,954.72. The trade was a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 107,132 shares of company stock valued at $5,249,355. 5.50% of the stock is currently owned by company insiders.

Guardant Health Stock Up 0.1 %

Shares of NASDAQ:GH traded up $0.04 on Friday, hitting $41.72. The company had a trading volume of 2,781,560 shares, compared to its average volume of 2,231,424. The firm's 50-day simple moving average is $43.72 and its two-hundred day simple moving average is $38.69. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of -11.72 and a beta of 1.49. Guardant Health, Inc. has a 1 year low of $18.01 and a 1 year high of $52.92.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.08. Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. The business had revenue of $203.47 million for the quarter, compared to analysts' expectations of $189.91 million. During the same period in the previous year, the firm posted ($0.46) EPS. The business's revenue was up 20.8% on a year-over-year basis. Equities research analysts anticipate that Guardant Health, Inc. will post -2.9 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GH. Stephens reiterated an "overweight" rating and set a $55.00 price target on shares of Guardant Health in a research report on Wednesday, March 26th. Morgan Stanley boosted their price target on shares of Guardant Health from $42.00 to $52.00 and gave the stock an "overweight" rating in a research note on Thursday, March 6th. Raymond James restated an "outperform" rating and set a $59.00 price objective (up previously from $39.00) on shares of Guardant Health in a research report on Friday, February 21st. The Goldman Sachs Group upped their target price on shares of Guardant Health from $49.00 to $56.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, TD Securities raised their price target on Guardant Health from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Twenty-one analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $52.32.

Guardant Health Company Profile

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.