Charles Schwab Investment Management Inc. Decreases Stock Position in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Charles Schwab Investment Management Inc. lowered its position in shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Free Report) by 96.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 216,345 shares of the company's stock after selling 6,469,048 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.39% of Ginkgo Bioworks worth $1,763,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in DNA. Pine Valley Investments Ltd Liability Co boosted its holdings in shares of Ginkgo Bioworks by 653.7% in the 2nd quarter. Pine Valley Investments Ltd Liability Co now owns 220,607 shares of the company's stock valued at $74,000 after acquiring an additional 191,336 shares during the last quarter. North Star Asset Management Inc. boosted its holdings in Ginkgo Bioworks by 162.6% in the second quarter. North Star Asset Management Inc. now owns 231,100 shares of the company's stock valued at $77,000 after purchasing an additional 143,100 shares during the last quarter. Monaco Asset Management SAM acquired a new stake in Ginkgo Bioworks during the 2nd quarter worth about $3,276,000. Thoroughbred Financial Services LLC purchased a new position in shares of Ginkgo Bioworks during the 2nd quarter valued at about $70,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Ginkgo Bioworks in the 2nd quarter valued at about $2,128,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on DNA. TD Cowen raised their target price on Ginkgo Bioworks from $3.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, September 20th. BTIG Research raised their price objective on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the stock a "sell" rating in a research note on Friday, August 23rd. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $4.58.

Ginkgo Bioworks Price Performance

NYSE DNA traded up $0.17 during trading hours on Tuesday, reaching $9.60. The company's stock had a trading volume of 1,362,523 shares, compared to its average volume of 1,164,283. The stock has a market capitalization of $551.52 million, a price-to-earnings ratio of -0.73 and a beta of 1.17. The firm has a 50-day moving average price of $8.43. Ginkgo Bioworks Holdings, Inc. has a 1-year low of $5.26 and a 1-year high of $75.20.

About Ginkgo Bioworks

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.