IPG Investment Advisors LLC Trims Stake in 23andMe Holding Co. (NASDAQ:ME)

IPG Investment Advisors LLC trimmed its holdings in shares of 23andMe Holding Co. (NASDAQ:ME) by 23.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 101,457 shares of the company’s stock after selling 31,459 shares during the quarter. IPG Investment Advisors LLC’s holdings in 23andMe were worth $178,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ME. Ameriprise Financial Inc. purchased a new position in 23andMe during the first quarter worth about $26,000. Walleye Capital LLC purchased a new position in shares of 23andMe in the 2nd quarter worth about $28,000. Cornerstone Wealth Management LLC purchased a new position in shares of 23andMe in the 1st quarter worth about $28,000. Geneos Wealth Management Inc. purchased a new position in shares of 23andMe in the 1st quarter worth about $34,000. Finally, Advisory Research Inc. purchased a new position in shares of 23andMe in the 3rd quarter worth about $36,000. 28.23% of the stock is currently owned by hedge funds and other institutional investors.

23andMe Price Performance

ME opened at $0.82 on Tuesday. The business has a 50 day simple moving average of $0.92 and a two-hundred day simple moving average of $1.45. The firm has a market capitalization of $389.28 million, a price-to-earnings ratio of -1.13 and a beta of 1.42. 23andMe Holding Co. has a one year low of $0.61 and a one year high of $3.48.

Analyst Ratings Changes

Separately, Citigroup cut their price objective on 23andMe from $2.50 to $1.75 and set a “buy” rating for the company in a report on Thursday, August 10th.

Insiders Place Their Bets

In other 23andMe news, insider Kathy L. Hibbs sold 40,894 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $1.06, for a total transaction of $43,347.64. Following the transaction, the insider now owns 258,984 shares in the company, valued at approximately $274,523.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Kathy L. Hibbs sold 38,548 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $0.84, for a total value of $32,380.32. Following the sale, the insider now owns 1,284,976 shares in the company, valued at approximately $1,079,379.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kathy L. Hibbs sold 40,894 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $1.06, for a total value of $43,347.64. Following the completion of the sale, the insider now owns 258,984 shares in the company, valued at approximately $274,523.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 238,518 shares of company stock worth $224,716. Company insiders own 27.55% of the company’s stock.

23andMe Company Profile

23andMe Holding Co operates as a consumer genetics testing company. The company operates in two segments, Consumer & Research Services and Therapeutics. The Consumer & Research Services segment provides a suite of genetic reports, including information on customers' genetic ancestral origins, personal genetic health risks, and chances of passing on certain rare carrier conditions to their children, as well as reports on how genetics can impact responses to medications.