ARK Investment Management LLC Decreases Stock Holdings in Genius Sports Limited (NYSE:GENI)

ARK Investment Management LLC trimmed its holdings in shares of Genius Sports Limited (NYSE:GENI) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,391,203 shares of the company’s stock after selling 287,452 shares during the quarter. ARK Investment Management LLC owned 2.04% of Genius Sports worth $37,984,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Canton Hathaway LLC increased its position in Genius Sports by 67.3% in the fourth quarter. Canton Hathaway LLC now owns 34,300 shares of the company’s stock worth $297,000 after buying an additional 13,800 shares during the last quarter. D.A. Davidson & CO. increased its position in Genius Sports by 2.7% in the fourth quarter. D.A. Davidson & CO. now owns 53,608 shares of the company’s stock worth $464,000 after buying an additional 1,396 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Genius Sports in the fourth quarter worth $11,292,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Genius Sports by 26.1% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,535 shares of the company’s stock worth $204,000 after buying an additional 4,873 shares during the last quarter. Finally, Robertson Stephens Wealth Management LLC increased its position in Genius Sports by 47.8% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 200,851 shares of the company’s stock worth $1,737,000 after buying an additional 64,955 shares during the last quarter. 81.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on GENI shares. Oppenheimer raised their target price on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Macquarie raised their target price on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Benchmark raised their price target on Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. The Goldman Sachs Group raised their price target on Genius Sports from $8.50 to $11.50 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $12.00 price target on shares of Genius Sports in a report on Friday, January 17th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.28.

Genius Sports Stock Performance

NYSE:GENI opened at $8.38 on Wednesday. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -26.17 and a beta of 2.15. Genius Sports Limited has a 52-week low of $4.91 and a 52-week high of $10.33. The stock has a fifty day moving average of $8.97 and a 200 day moving average of $8.36.

Genius Sports Company Profile

Genius Sports Limited engages in the development and sale of technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.