Insider Selling: 23andMe Holding Co. (NASDAQ:ME) Insider Sells $18,889.99 in Stock

23andMe Holding Co. (NASDAQ:ME) insider Kathy L. Hibbs sold 38,551 shares of 23andMe stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $0.49, for a total value of $18,889.99. Following the sale, the insider now directly owns 1,252,315 shares of the company’s stock, valued at approximately $613,634.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

23andMe Stock Performance

ME opened at $0.48 on Thursday. The company has a market cap of $233.11 million, a PE ratio of -0.43 and a beta of 1.24. The stock has a 50-day moving average of $0.49 and a 200-day moving average of $0.69. 23andMe Holding Co. has a 52-week low of $0.35 and a 52-week high of $2.21.

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On 23andMe

Several large investors have recently made changes to their positions in the business. Wittenberg Investment Management Inc. lifted its position in shares of 23andMe by 63.9% during the 1st quarter. Wittenberg Investment Management Inc. now owns 2,290,945 shares of the company’s stock worth $1,219,000 after purchasing an additional 893,552 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in 23andMe by 68.3% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 60,653 shares of the company’s stock valued at $32,000 after acquiring an additional 24,604 shares in the last quarter. Mirador Capital Partners LP raised its holdings in 23andMe by 11.2% in the 1st quarter. Mirador Capital Partners LP now owns 340,946 shares of the company’s stock valued at $181,000 after acquiring an additional 34,321 shares in the last quarter. BKA Wealth Consulting Inc. acquired a new position in 23andMe in the 4th quarter valued at approximately $126,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in 23andMe by 58.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,167 shares of the company’s stock valued at $56,000 after acquiring an additional 22,460 shares in the last quarter. Institutional investors and hedge funds own 36.10% of the company’s stock.

About 23andMe

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.