Reshma Shetty Sells 124,727 Shares of Ginkgo Bioworks (NYSE:DNA) Stock

Key Points

• Reshma Shetty sold 124,727 shares of Ginkgo Bioworks on April 10 at an average price of $6.43 for about $802,000, reducing her stake by 22.23% to 436,422 shares; the sale was to cover tax withholding from vested equity awards.
• Ginkgo shares trade around $6.69 with a market cap of about $414 million, and the company remains unprofitable (Q4 EPS -$1.42) with analysts holding a consensus "Reduce" rating and a $8.50 price target.
• Institutional investors have been adding positions—Millennium Management more than doubled its stake to 1.43 million shares—and institutions now own about 78.63% of the stock.

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) insider Reshma Shetty sold 124,727 shares of the company's stock in a transaction on Friday, April 10th. The shares were sold at an average price of $6.43, for a total value of $801,994.61. Following the completion of the transaction, the insider owned 436,422 shares of the company's stock, valued at $2,806,193.46. The trade was a 22.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ginkgo Bioworks Stock Performance

Ginkgo Bioworks stock traded up $0.24 during trading on Monday, hitting $6.69. The company's stock had a trading volume of 1,017,957 shares, compared to its average volume of 1,126,379. The stock has a market capitalization of $414.00 million, a price-to-earnings ratio of -1.18 and a beta of 1.56. The stock's fifty day moving average is $7.63 and its 200 day moving average is $9.48. Ginkgo Bioworks Holdings, Inc. has a 1-year low of $5.37 and a 1-year high of $17.58.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported ($1.42) EPS for the quarter, beating the consensus estimate of ($1.80) by $0.38. The firm had revenue of $33.40 million during the quarter, compared to analyst estimates of $37.57 million. Ginkgo Bioworks had a negative return on equity of 52.82% and a negative net margin of 183.81%. On average, research analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -10.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DNA. Millennium Management LLC boosted its holdings in Ginkgo Bioworks by 113.1% in the first quarter. Millennium Management LLC now owns 1,427,600 shares of the company's stock valued at $8,137,000 after purchasing an additional 757,535 shares during the last quarter. Prescott Group Capital Management L.L.C. purchased a new position in Ginkgo Bioworks in the fourth quarter valued at about $4,503,000. State Street Corp boosted its holdings in Ginkgo Bioworks by 38.4% in the fourth quarter. State Street Corp now owns 1,292,071 shares of the company's stock valued at $10,737,000 after purchasing an additional 358,231 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Ginkgo Bioworks by 28,457.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 228,744 shares of the company's stock valued at $1,901,000 after purchasing an additional 227,943 shares during the last quarter. Finally, UBS Group AG boosted its holdings in Ginkgo Bioworks by 86.4% in the fourth quarter. UBS Group AG now owns 489,418 shares of the company's stock valued at $4,067,000 after purchasing an additional 226,861 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. TD Cowen lowered their price target on Ginkgo Bioworks from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Thursday, January 8th. BTIG Research lowered their price target on Ginkgo Bioworks from $9.00 to $5.00 and set a "sell" rating for the company in a research report on Thursday, March 12th. Wall Street Zen raised Ginkgo Bioworks from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ginkgo Bioworks in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $8.50.

About Ginkgo Bioworks

Ginkgo Bioworks, Inc is a synthetic biology company that designs custom microbes for customers across a range of industries. Utilizing a proprietary organism foundry platform, the company engineers cells to produce high-value chemicals, enzymes, and other biological materials. By integrating automation, data analytics and machine learning, Ginkgo Bioworks seeks to accelerate the development of biologically derived solutions at industrial scale.

The company's services span the entire development cycle, from genetic design and strain optimization to fermentation and downstream processing.

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