Jacobs Levy Equity Management Inc. increased its stake in Origin Materials, Inc. (NASDAQ:ORGN - Free Report) by 337.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,350,863 shares of the financial services provider's stock after purchasing an additional 1,813,047 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 1.61% of Origin Materials worth $3,620,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Origin Materials by 0.8% in the first quarter. Vanguard Group Inc. now owns 5,899,099 shares of the financial services provider's stock valued at $3,009,000 after purchasing an additional 48,889 shares during the last quarter. Moss Adams Wealth Advisors LLC bought a new position in Origin Materials in the 2nd quarter worth approximately $45,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Origin Materials during the second quarter worth approximately $31,000. Point72 DIFC Ltd acquired a new position in shares of Origin Materials during the second quarter worth approximately $50,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Origin Materials in the second quarter valued at approximately $155,000. Institutional investors own 29.91% of the company's stock.
Insider Activity
In other Origin Materials news, CFO Matthew T. Plavan sold 120,000 shares of the company's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $1.32, for a total value of $158,400.00. Following the sale, the chief financial officer now directly owns 1,223,088 shares in the company, valued at $1,614,476.16. This represents a 8.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Richard J. Riley acquired 300,000 shares of the business's stock in a transaction on Wednesday, November 20th. The shares were bought at an average cost of $1.00 per share, with a total value of $300,000.00. Following the completion of the acquisition, the chief executive officer now owns 749,083 shares of the company's stock, valued at approximately $749,083. This trade represents a 66.80 % increase in their position. The disclosure for this purchase can be found here. 17.49% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Separately, Bank of America upgraded shares of Origin Materials from a "neutral" rating to a "buy" rating and raised their price target for the stock from $1.35 to $3.00 in a research report on Friday, August 16th.
Check Out Our Latest Report on Origin Materials
Origin Materials Trading Up 3.3 %
ORGN traded up $0.04 on Friday, hitting $1.25. 1,222,844 shares of the stock traded hands, compared to its average volume of 1,378,444. The business has a fifty day moving average price of $1.33 and a two-hundred day moving average price of $1.21. Origin Materials, Inc. has a 52 week low of $0.44 and a 52 week high of $1.90.
Origin Materials Company Profile
(
Free Report)
Origin Materials, Inc, together with its subsidiaries, operates as a carbon-negative materials company. The company develops a proprietary biomass conversion platform to convert biomass, or plant-based carbon into building block chemicals chloromethylfurfural and hydrothermal carbon, as well as other oils and extractives and other co-products.
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