Insider Selling: Ginkgo Bioworks (NYSE:DNA) Major Shareholder Sells $801,994.61 in Stock

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) major shareholder Barry Canton sold 124,727 shares of the firm’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $6.43, for a total transaction of $801,994.61. Following the completion of the sale, the insider owned 436,422 shares in the company, valued at approximately $2,806,193.46. The trade was a 22.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Barry Canton also recently made the following trade(s):

• On Thursday, April 9th, Barry Canton sold 13,116 shares of Ginkgo Bioworks stock. The stock was sold at an average price of $6.40, for a total transaction of $83,942.40.
• On Wednesday, April 8th, Barry Canton sold 13,155 shares of Ginkgo Bioworks stock. The stock was sold at an average price of $6.93, for a total transaction of $91,164.15.

Ginkgo Bioworks Trading Up 1.0%

Shares of Ginkgo Bioworks stock opened at $7.80 on Thursday. The company’s fifty day simple moving average is $7.55 and its 200-day simple moving average is $9.41. The company has a market cap of $482.67 million, a price-to-earnings ratio of -1.38 and a beta of 1.56. Ginkgo Bioworks Holdings, Inc. has a 1 year low of $5.37 and a 1 year high of $17.58.

Ginkgo Bioworks (NYSE:DNA) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($1.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.80) by $0.38. The business had revenue of $33.40 million for the quarter, compared to the consensus estimate of $37.57 million. Ginkgo Bioworks had a negative net margin of 183.81% and a negative return on equity of 52.82%. As a group, research analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -10.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ginkgo Bioworks

A number of institutional investors have recently bought and sold shares of DNA. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Ginkgo Bioworks by 3.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 30,727 shares of the company’s stock valued at $267,000 after purchasing an additional 1,122 shares in the last quarter. Shay Capital LLC boosted its stake in shares of Ginkgo Bioworks by 6.2% in the 2nd quarter. Shay Capital LLC now owns 19,382 shares of the company’s stock valued at $218,000 after purchasing an additional 1,124 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Ginkgo Bioworks by 3.5% in the 4th quarter. Deutsche Bank AG now owns 35,689 shares of the company’s stock valued at $297,000 after purchasing an additional 1,207 shares in the last quarter. Savant Capital LLC boosted its stake in shares of Ginkgo Bioworks by 7.9% in the 3rd quarter. Savant Capital LLC now owns 17,509 shares of the company’s stock valued at $255,000 after purchasing an additional 1,276 shares in the last quarter. Finally, Green Alpha Advisors LLC boosted its stake in shares of Ginkgo Bioworks by 10.6% in the 4th quarter. Green Alpha Advisors LLC now owns 14,327 shares of the company’s stock valued at $119,000 after purchasing an additional 1,378 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on DNA shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ginkgo Bioworks in a research note on Wednesday, January 21st. Wall Street Zen upgraded shares of Ginkgo Bioworks from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. TD Cowen decreased their price target on shares of Ginkgo Bioworks from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Finally, BTIG Research decreased their price target on shares of Ginkgo Bioworks from $9.00 to $5.00 and set a “sell” rating on the stock in a research note on Thursday, March 12th. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average 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.