Mirae Asset Global Investments Co. Ltd. Sells 99,989 Shares of 23andMe Holding Co. (NASDAQ:ME)

Mirae Asset Global Investments Co. Ltd. reduced its stake in 23andMe Holding Co. (NASDAQ:ME) by 18.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 443,306 shares of the company’s stock after selling 99,989 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.09% of 23andMe worth $405,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ME. China Universal Asset Management Co. Ltd. lifted its position in shares of 23andMe by 361.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 36,049 shares of the company’s stock worth $33,000 after purchasing an additional 28,229 shares during the period. Mirador Capital Partners LP purchased a new stake in shares of 23andMe in the 4th quarter worth approximately $280,000. Raymond James & Associates lifted its position in shares of 23andMe by 82.4% in the 4th quarter. Raymond James & Associates now owns 65,973 shares of the company’s stock worth $60,000 after purchasing an additional 29,800 shares during the period. SG Americas Securities LLC lifted its position in shares of 23andMe by 61.4% in the 4th quarter. SG Americas Securities LLC now owns 214,004 shares of the company’s stock worth $195,000 after purchasing an additional 81,442 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of 23andMe by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 28,145,216 shares of the company’s stock worth $27,518,000 after purchasing an additional 834,504 shares during the period. 36.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Citigroup decreased their target price on shares of 23andMe from $0.85 to $0.47 and set a “neutral” rating for the company in a research report on Tuesday, April 16th.

23andMe Stock Up 1.1 %

NASDAQ:ME opened at $0.46 on Friday. 23andMe Holding Co. has a 52 week low of $0.35 and a 52 week high of $2.21. The firm has a 50 day moving average of $0.51 and a 200 day moving average of $0.71. The stock has a market capitalization of $224.12 million, a price-to-earnings ratio of -0.42 and a beta of 1.27.

23andMe (NASDAQ:ME) last posted its earnings results on Wednesday, February 7th. The company reported ($0.17) EPS for the quarter. 23andMe had a negative net margin of 210.48% and a negative return on equity of 52.99%. The firm had revenue of $44.75 million for the quarter, compared to analysts’ expectations of $56.30 million.

23andMe Company Profile

23andMe Holding Co operates as a consumer genetics testing company. The company operates in two segments, Consumer & Research Services and Therapeutics. The Consumer & Research Services segment provides a suite of genetic reports, including information on customers' genetic ancestral origins, personal genetic health risks, and chances of passing on certain rare carrier conditions to their children, as well as reports on how genetics can impact responses to medications.