Sumitomo Mitsui Trust Holdings Inc. Has $98.42 Million Stake in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,238,915 shares of the company’s stock after selling 507,245 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Ginkgo Bioworks were worth $98,424,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of DNA. IHT Wealth Management LLC boosted its stake in Ginkgo Bioworks by 11.4% during the 3rd quarter. IHT Wealth Management LLC now owns 51,745 shares of the company’s stock worth $161,000 after acquiring an additional 5,275 shares during the last quarter. Voya Investment Management LLC boosted its stake in Ginkgo Bioworks by 4.5% during the 4th quarter. Voya Investment Management LLC now owns 159,982 shares of the company’s stock worth $270,000 after acquiring an additional 6,959 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Ginkgo Bioworks by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 130,334 shares of the company’s stock worth $236,000 after acquiring an additional 7,499 shares during the last quarter. Two Sigma Securities LLC boosted its stake in Ginkgo Bioworks by 8.1% during the 1st quarter. Two Sigma Securities LLC now owns 102,138 shares of the company’s stock worth $136,000 after acquiring an additional 7,651 shares during the last quarter. Finally, HighTower Advisors LLC boosted its stake in Ginkgo Bioworks by 16.6% during the 1st quarter. HighTower Advisors LLC now owns 55,130 shares of the company’s stock worth $72,000 after acquiring an additional 7,856 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on DNA shares. TD Cowen reduced their price objective on shares of Ginkgo Bioworks from $7.00 to $3.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. The Goldman Sachs Group reduced their price objective on shares of Ginkgo Bioworks from $1.25 to $1.10 and set a “sell” rating on the stock in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $2.20.

Insider Activity

In other news, insider Mark E. Dmytruk sold 51,169 shares of Ginkgo Bioworks stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1.05, for a total value of $53,727.45. Following the sale, the insider now directly owns 865,079 shares in the company, valued at $908,332.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Mark E. Dmytruk sold 39,569 shares of Ginkgo Bioworks stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $1.21, for a total value of $47,878.49. Following the sale, the insider now directly owns 761,737 shares in the company, valued at $921,701.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark E. Dmytruk sold 51,169 shares of Ginkgo Bioworks stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1.05, for a total transaction of $53,727.45. Following the completion of the sale, the insider now owns 865,079 shares in the company, valued at $908,332.95. The disclosure for this sale can be found here. 15.05% of the stock is owned by corporate insiders.

Ginkgo Bioworks Stock Down 3.4 %

Shares of DNA opened at $0.92 on Wednesday. Ginkgo Bioworks Holdings, Inc. has a twelve month low of $0.90 and a twelve month high of $2.55. The firm’s 50 day moving average price is $1.22 and its two-hundred day moving average price is $1.39.

Ginkgo Bioworks (NYSE:DNA) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Ginkgo Bioworks had a negative net margin of 355.08% and a negative return on equity of 48.23%. The company had revenue of $34.76 million during the quarter, compared to the consensus estimate of $40.37 million. During the same period in the previous year, the firm posted ($0.04) EPS. The business’s quarterly revenue was down 64.6% compared to the same quarter last year. On average, equities analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -0.32 earnings per share for the current year.

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.