Soma Equity Partners LP Sells 83,363 Shares of Illumina, Inc. (NASDAQ:ILMN)

Soma Equity Partners LP lessened its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 10.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 738,393 shares of the life sciences company’s stock after selling 83,363 shares during the quarter. Illumina makes up about 5.5% of Soma Equity Partners LP’s investment portfolio, making the stock its 12th largest position. Soma Equity Partners LP owned 0.47% of Illumina worth $98,671,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of ILMN. Capital World Investors boosted its stake in Illumina by 408.6% during the fourth quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company’s stock worth $2,408,721,000 after buying an additional 14,481,232 shares in the last quarter. WCM Investment Management LLC boosted its position in shares of Illumina by 26.6% during the 4th quarter. WCM Investment Management LLC now owns 4,129,855 shares of the life sciences company’s stock valued at $551,625,000 after acquiring an additional 867,673 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Illumina by 0.8% in the fourth quarter. Bank of New York Mellon Corp now owns 3,402,057 shares of the life sciences company’s stock valued at $454,617,000 after acquiring an additional 27,618 shares during the period. Brown Advisory Inc. raised its position in Illumina by 54,220.9% in the fourth quarter. Brown Advisory Inc. now owns 1,912,639 shares of the life sciences company’s stock worth $255,586,000 after purchasing an additional 1,909,118 shares in the last quarter. Finally, Norges Bank acquired a new position in Illumina in the fourth quarter worth about $228,714,000. 89.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Illumina news, CFO Ankur Dhingra acquired 6,100 shares of Illumina stock in a transaction dated Monday, May 12th. The stock was bought at an average cost of $81.21 per share, for a total transaction of $495,381.00. Following the purchase, the chief financial officer now directly owns 24,906 shares in the company, valued at approximately $2,022,616.26. This represents a 32.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.17% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ILMN has been the subject of several analyst reports. Guggenheim cut their target price on Illumina from $122.00 to $114.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Stephens reissued an “overweight” rating and set a $156.00 price objective on shares of Illumina in a report on Tuesday, March 11th. Royal Bank of Canada lowered their target price on shares of Illumina from $128.00 to $112.00 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. HSBC cut shares of Illumina from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research report on Friday, February 28th. Finally, Citigroup reduced their price target on shares of Illumina from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Illumina has a consensus rating of “Moderate Buy” and an average price target of $130.70.

Illumina Price Performance

Shares of ILMN stock opened at $80.90 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63. Illumina, Inc. has a 12-month low of $68.70 and a 12-month high of $156.66. The firm has a fifty day moving average of $78.50 and a 200-day moving average of $111.80. The firm has a market capitalization of $12.80 billion, a price-to-earnings ratio of -10.53, a price-to-earnings-growth ratio of 1.60 and a beta of 1.35.

Illumina (NASDAQ:ILMN) last posted its earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. The company’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 earnings per share. On average, equities research analysts forecast that Illumina, Inc. will post 4.51 earnings per share for the current year.

Illumina Profile

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.