Charles Schwab Investment Management Inc. Cuts Stock Position in 10x Genomics, Inc. (NASDAQ:TXG)

Charles Schwab Investment Management Inc. lessened its stake in 10x Genomics, Inc. (NASDAQ:TXG) by 17.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 539,666 shares of the company’s stock after selling 111,916 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in 10x Genomics were worth $7,750,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FMR LLC increased its holdings in 10x Genomics by 2.7% in the 3rd quarter. FMR LLC now owns 13,367,979 shares of the company’s stock worth $301,849,000 after acquiring an additional 357,470 shares in the last quarter. ARK Investment Management LLC increased its holdings in 10x Genomics by 11.1% in the 4th quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock worth $171,517,000 after acquiring an additional 1,193,712 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in 10x Genomics in the 4th quarter worth $26,308,000. Geode Capital Management LLC increased its holdings in 10x Genomics by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company’s stock worth $41,009,000 after acquiring an additional 42,777 shares in the last quarter. Finally, State Street Corp increased its holdings in 10x Genomics by 7.1% in the 3rd quarter. State Street Corp now owns 1,750,643 shares of the company’s stock worth $39,530,000 after acquiring an additional 116,534 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Activity

In related news, CEO Serge Saxonov sold 5,092 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $56,368.44. Following the sale, the chief executive officer now directly owns 879,482 shares of the company’s stock, valued at $9,735,865.74. This represents a 0.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benjamin J. Hindson sold 4,573 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $11.07, for a total transaction of $50,623.11. Following the sale, the insider now directly owns 335,324 shares in the company, valued at approximately $3,712,036.68. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TXG shares. Morgan Stanley cut their price target on shares of 10x Genomics from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Weiss Ratings restated a “sell (e+)” rating on shares of 10x Genomics in a research report on Saturday. Canaccord Genuity Group cut their price objective on shares of 10x Genomics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Citigroup lowered their target price on 10x Genomics from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Finally, UBS Group dropped their price target on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.21.

10x Genomics Price Performance

NASDAQ:TXG opened at $10.39 on Monday. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -6.84 and a beta of 1.93. The company’s 50-day moving average is $12.68 and its two-hundred day moving average is $15.47. 10x Genomics, Inc. has a 1-year low of $9.27 and a 1-year high of $38.49.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.08). 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. As a group, equities analysts anticipate that 10x Genomics, Inc. will post -1.43 earnings per share for the current fiscal year.

About 10x Genomics

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in the America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium, chromium connect, and chromium controller instruments, microfluidic chips, slides, reagents, and other consumables products.