- Ark Invest has purchased Ginkgo Bioworks (NYSE:DNA) six times this month
- All the purchases game after Ginkgo reported earnings
- In total, Ark owns 76.89 million shares of DNA stock
Shares of Ginkgo Bioworks (NYSE:DNA) have had a disastrous 2022, with the company losing over 65% of its market capitalization so far. The biotech company focuses on utilizing genetic engineering to produce purposeful bacteria.
Ginkgo reported Q1 earnings on May 16. Revenue came in at $168 million, which was up an impressive 282% year-over-year (YOY). Meanwhile, the company also increased its full-year revenue guidance to be between $375 million and $390 million. That’s up from its previous guidance between $325 million to $340 million.
Cathie Wood’s Ark Invest seems to like what it saw, as it has purchased DNA stock six times after the company reported earnings. Let’s get into the details.
Cathie Wood Buys DNA Stock
Yesterday, the Ark Genomic Revolution (BATS:ARKG) exchange-traded fund (ETF) purchased 1,104 shares of DNA. Meanwhile, the Ark Innovation ETF (NYSEMKT:ARKK) purchased 3,986 shares. However, these two purchases pale in comparison to Ark Invest’s transactions on May 18. On that day, ARKG and ARKK purchased a combined 4.73 million shares of the genetics company.
After the purchases, Ark Invest owns a total of 76.89 million shares of DNA, making it a top 10 shareholder of the company. Across all Ark ETFs, Ginkgo is the 24th-largest position with a 1.22% allocation. Ark also owns 7.04% of all shares outstanding. In ARKG, the company is the 17th-largest holding, while it is the 23rd-largest holding in ARKK.
Who Else Is Betting Big on Ginkgo Bioworks?
Tracking institutional ownership is important, as these large funds provide liquidity and price support for stocks. During Q1, 181 funds reported owning DNA, an increase of 18 funds from the prior quarter. Meanwhile, the institutional put/call ratio sits at 1.37, up from 0.83 during Q4. This means that funds in aggregate own more put options against the company than call options. With that in mind, let’s take a look at the five largest shareholders:
- Baillie Gifford: 167.75 million shares. The firm purchased 58.3 million shares during Q1.
- Reshma Shetty, co-founder: 166.04 million shares. Shetty’s position is only accurate as of Q3 of 2021.
- Cascade Investment: 151.86 million shares. Cascade’s position is only accurate as of Q3 of 2021.
- General Atlantic: 90.81 million shares. The firm sold 20.75 million shares during Q1.
- Austin Che, co-founder: 82.92 million shares. Che’s position is only accurate as of Q4 of 2021.
On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
