Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Shares Purchased by ARK Investment Management LLC

ARK Investment Management LLC raised its holdings in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Free Report) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 198,606,619 shares of the company's stock after purchasing an additional 16,414,434 shares during the period. Ginkgo Bioworks accounts for approximately 2.0% of ARK Investment Management LLC's holdings, making the stock its 18th biggest holding. ARK Investment Management LLC owned about 9.38% of Ginkgo Bioworks worth $335,645,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Ginkgo Bioworks during the first quarter worth about $43,000. Atria Wealth Solutions Inc. acquired a new position in Ginkgo Bioworks during the second quarter worth approximately $30,000. Creative Planning bought a new stake in Ginkgo Bioworks in the 4th quarter valued at $25,000. Silverlake Wealth Management LLC acquired a new stake in Ginkgo Bioworks during the 4th quarter valued at $25,000. Finally, American International Group Inc. increased its holdings in shares of Ginkgo Bioworks by 56.8% in the second quarter. American International Group Inc. now owns 15,031 shares of the company's stock valued at $28,000 after purchasing an additional 5,445 shares during the last quarter. 78.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. TD Cowen cut their price objective on shares of Ginkgo Bioworks from $7.00 to $3.00 and set an "outperform" rating for the company in a research report on Friday, March 1st. The Goldman Sachs Group decreased their target price on shares of Ginkgo Bioworks from $1.25 to $1.10 and set a "sell" rating on the stock in a research report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $2.20.

Insider Activity

In other Ginkgo Bioworks news, insider Jason R. Kelly sold 100,000 shares of the business's stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $1.54, for a total transaction of $154,000.00. Following the sale, the insider now directly owns 3,994,680 shares of the company's stock, valued at approximately $6,151,807.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Jason R. Kelly sold 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $1.54, for a total transaction of $154,000.00. Following the completion of the sale, the insider now owns 3,994,680 shares of the company's stock, valued at $6,151,807.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark E. Dmytruk sold 39,569 shares of the firm's stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $1.21, for a total transaction of $47,878.49. Following the completion of the sale, the insider now owns 761,737 shares of the company's stock, valued at $921,701.77. The disclosure for this sale can be found here. Insiders own 15.05% of the company's stock.

Ginkgo Bioworks Price Performance

DNA traded up $0.06 on Thursday, hitting $1.16. 26,099,482 shares of the stock were exchanged, compared to its average volume of 22,659,953. The business has a 50-day moving average of $1.27 and a two-hundred day moving average of $1.46. Ginkgo Bioworks Holdings, Inc. has a 12 month low of $1.03 and a 12 month high of $2.55. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of -2.47 and a beta of 1.42.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The business had revenue of $34.76 million during the quarter, compared to analyst estimates of $40.37 million. Ginkgo Bioworks had a negative net margin of 355.08% and a negative return on equity of 48.23%. The business's quarterly revenue was down 64.6% compared to the same quarter last year. During the same period last year, the business earned ($0.04) earnings per share. Equities research analysts expect that Ginkgo Bioworks Holdings, Inc. will post -0.32 earnings per share for the current fiscal year.

About Ginkgo Bioworks

Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming in the United States. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. It serves pharma and biotech, agriculture, industrial and environment, food and nutrition, consumer and technology, and government and defense industries.