ARK Investment Management LLC Has $335.65 Million Stock Holdings in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

ARK Investment Management LLC raised its stake in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) by 9.0% during the 4th quarter, HoldingsChannel reports. The firm owned 198,606,619 shares of the company’s stock after purchasing an additional 16,414,434 shares during the quarter. Ginkgo Bioworks comprises 2.0% of ARK Investment Management LLC’s holdings, making the stock its 18th biggest position. ARK Investment Management LLC owned 0.09% of Ginkgo Bioworks worth $335,645,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DNA. BlackRock Inc. boosted its stake in Ginkgo Bioworks by 34.6% during the second quarter. BlackRock Inc. now owns 68,202,832 shares of the company’s stock worth $126,857,000 after buying an additional 17,538,752 shares in the last quarter. State Street Corp boosted its stake in Ginkgo Bioworks by 210.3% during the second quarter. State Street Corp now owns 12,411,855 shares of the company’s stock worth $29,540,000 after buying an additional 8,411,787 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Ginkgo Bioworks by 15.7% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 58,746,160 shares of the company’s stock worth $106,331,000 after buying an additional 7,958,613 shares in the last quarter. Norges Bank acquired a new stake in Ginkgo Bioworks during the fourth quarter worth $13,306,000. Finally, Welch & Forbes LLC acquired a new stake in Ginkgo Bioworks during the third quarter worth $12,670,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Ginkgo Bioworks Stock Up 2.3 %

Ginkgo Bioworks stock opened at $1.10 on Thursday. The stock has a 50-day simple moving average of $1.27 and a 200 day simple moving average of $1.47. Ginkgo Bioworks Holdings, Inc. has a 12-month low of $1.03 and a 12-month high of $2.55.

Ginkgo Bioworks (NYSE:DNA) last announced 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 firm had revenue of $34.76 million for the quarter, compared to the consensus estimate of $40.37 million. Ginkgo Bioworks had a negative return on equity of 48.23% and a negative net margin of 355.08%. The business’s revenue for the quarter was down 64.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.04) earnings per share. Sell-side analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -0.32 EPS for the current year.

Insiders Place Their Bets

In other Ginkgo Bioworks news, insider Mark E. Dmytruk sold 39,569 shares of the business’s stock in a transaction dated 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 directly owns 761,737 shares of the company’s stock, valued at approximately $921,701.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Mark E. Dmytruk sold 39,569 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 761,737 shares in the company, valued at approximately $921,701.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jason R. Kelly sold 100,000 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $1.54, for a total value of $154,000.00. Following the transaction, the insider now owns 3,994,680 shares of the company’s stock, valued at $6,151,807.20. The disclosure for this sale can be found here. Company insiders own 15.05% of the company’s stock.

Analyst Upgrades and Downgrades

DNA has been the subject of a number of analyst reports. The Goldman Sachs Group cut their price objective on Ginkgo Bioworks from $1.25 to $1.10 and set a “sell” rating for the company in a report on Monday, January 22nd. TD Cowen cut their price objective on Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating for the company in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $2.20.

Ginkgo Bioworks Profile

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.