Cresset Asset Management LLC Sells 6,826 Shares of Illumina, Inc. (NASDAQ:ILMN)

Cresset Asset Management LLC trimmed its position in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 59.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,737 shares of the life sciences company's stock after selling 6,826 shares during the quarter. Cresset Asset Management LLC's holdings in Illumina were worth $633,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ILMN. Capital World Investors boosted its holdings in shares of Illumina by 408.6% in the fourth quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company's stock worth $2,408,721,000 after buying an additional 14,481,232 shares during the period. Brown Advisory Inc. boosted its holdings in shares of Illumina by 54,220.9% in the fourth quarter. Brown Advisory Inc. now owns 1,912,639 shares of the life sciences company's stock worth $255,586,000 after buying an additional 1,909,118 shares during the period. Norges Bank acquired a new stake in shares of Illumina during the fourth quarter worth approximately $228,714,000. Bessemer Group Inc. boosted its holdings in shares of Illumina by 32,837.5% during the fourth quarter. Bessemer Group Inc. now owns 1,348,131 shares of the life sciences company's stock worth $180,152,000 after purchasing an additional 1,344,038 shares during the period. Finally, WCM Investment Management LLC boosted its holdings in shares of Illumina by 26.6% during the fourth quarter. WCM Investment Management LLC now owns 4,129,855 shares of the life sciences company's stock worth $551,625,000 after purchasing an additional 867,673 shares during the period. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Ankur Dhingra bought 6,100 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average price of $81.21 per share, with a total value of $495,381.00. Following the completion of the transaction, the chief financial officer now owns 24,906 shares of the company's stock, valued at $2,022,616.26. The trade was a 32.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on ILMN. Citigroup decreased their price target on shares of Illumina from $90.00 to $85.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Robert W. Baird decreased their price target on shares of Illumina from $127.00 to $90.00 and set a "neutral" rating for the company in a report on Wednesday, March 5th. Canaccord Genuity Group decreased their price target on shares of Illumina from $92.00 to $87.00 and set a "hold" rating for the company in a report on Monday, May 12th. Royal Bank of Canada decreased their price target on shares of Illumina from $128.00 to $112.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. Finally, Piper Sandler decreased their price target on shares of Illumina from $190.00 to $185.00 and set an "overweight" rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Illumina currently has a consensus rating of "Moderate Buy" and an average target price of $130.70.

Illumina Stock Performance

Shares of NASDAQ:ILMN traded up $2.72 during trading on Friday, reaching $83.62. The stock had a trading volume of 2,338,618 shares, compared to its average volume of 2,311,643. Illumina, Inc. has a 52 week low of $68.70 and a 52 week high of $156.66. The firm has a market capitalization of $13.23 billion, a price-to-earnings ratio of -10.89, a P/E/G ratio of 1.60 and a beta of 1.35. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $78.48 and a two-hundred day simple moving average of $111.37.

Illumina (NASDAQ:ILMN - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The life sciences company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the firm posted $0.98 earnings per share. The company's quarterly revenue was down 1.4% compared to the same quarter last year. As a group, analysts anticipate that Illumina, Inc. will post 4.51 earnings per share for the current fiscal 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.