ARK Investment Management LLC Acquires 12,442,658 Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

ARK Investment Management LLC boosted its holdings in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Free Report) by 7.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 182,192,185 shares of the company's stock after buying an additional 12,442,658 shares during the period. Ginkgo Bioworks makes up about 2.5% of ARK Investment Management LLC's holdings, making the stock its 14th largest holding. ARK Investment Management LLC owned 8.68% of Ginkgo Bioworks worth $329,768,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. bought a new stake in Ginkgo Bioworks during the first quarter worth about $211,000. ProShare Advisors LLC bought a new stake in Ginkgo Bioworks during the first quarter worth about $284,000. JPMorgan Chase & Co. lifted its stake in Ginkgo Bioworks by 125.2% during the first quarter. JPMorgan Chase & Co. now owns 2,696,128 shares of the company's stock worth $10,865,000 after purchasing an additional 1,498,987 shares during the last quarter. Raymond James & Associates lifted its stake in Ginkgo Bioworks by 299.5% during the first quarter. Raymond James & Associates now owns 88,918 shares of the company's stock worth $358,000 after purchasing an additional 66,660 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in Ginkgo Bioworks by 115.0% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 26,093 shares of the company's stock worth $105,000 after purchasing an additional 13,957 shares during the last quarter. Institutional investors own 56.84% of the company's stock.

Insider Activity at Ginkgo Bioworks

In related news, major shareholder Barry Canton sold 37,650 shares of the business's stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $1.83, for a total transaction of $68,899.50. Following the transaction, the insider now owns 12,826,354 shares in the company, valued at approximately $23,472,227.82. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, major shareholder Barry Canton sold 37,650 shares of the business's stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $1.83, for a total transaction of $68,899.50. Following the transaction, the insider now owns 12,826,354 shares in the company, valued at approximately $23,472,227.82. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jason R. Kelly sold 100,000 shares of the business's stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $1.79, for a total value of $179,000.00. Following the transaction, the insider now owns 4,194,680 shares in the company, valued at approximately $7,508,477.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,518,937 shares of company stock worth $22,593,841 in the last 90 days. Company insiders own 15.05% of the company's stock.

Ginkgo Bioworks Stock Up 3.4 %

Shares of NYSE DNA traded up $0.06 during midday trading on Tuesday, reaching $1.81. The company had a trading volume of 4,237,163 shares, compared to its average volume of 20,792,641. Ginkgo Bioworks Holdings, Inc. has a one year low of $1.12 and a one year high of $2.55. The firm's fifty day moving average price is $1.48 and its 200-day moving average price is $1.77. The stock has a market cap of $3.83 billion, a PE ratio of -3.93 and a beta of 1.18.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last released its earnings results on Wednesday, November 8th. The company reported ($0.09) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.09). Ginkgo Bioworks had a negative return on equity of 36.36% and a negative net margin of 272.30%. The company had revenue of $55.43 million during the quarter, compared to analyst estimates of $46.47 million. As a group, equities research analysts expect that Ginkgo Bioworks Holdings, Inc. will post -0.42 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Raymond James lowered Ginkgo Bioworks from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $3.50 to $2.50 in a research note on Tuesday, November 14th. BTIG Research lowered Ginkgo Bioworks from a "buy" rating to a "neutral" rating in a research note on Thursday, November 9th.

About Ginkgo Bioworks

Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. The company serves various end markets, including specialty chemicals, agriculture, food, consumer products, and pharmaceuticals.

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