ARK Investment Management LLC Sells 287,452 Shares of Genius Sports Limited (NYSE:GENI)

ARK Investment Management LLC lowered its position in shares of Genius Sports Limited (NYSE:GENI) by 6.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,391,203 shares of the company’s stock after selling 287,452 shares during the period. ARK Investment Management LLC’s holdings in Genius Sports were worth $37,984,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new stake in Genius Sports during the third quarter worth about $532,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Genius Sports in the fourth quarter worth about $11,292,000. Senvest Management LLC increased its holdings in shares of Genius Sports by 12.2% in the third quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock worth $59,167,000 after buying an additional 819,385 shares during the period. Millrace Asset Group Inc. purchased a new position in shares of Genius Sports in the third quarter worth about $1,897,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Genius Sports by 2,765,692.0% in the third quarter. JPMorgan Chase & Co. now owns 691,448 shares of the company’s stock worth $5,421,000 after buying an additional 691,423 shares during the period. Institutional investors own 81.91% of the company’s stock.

Genius Sports Price Performance

Shares of NYSE:GENI opened at $8.38 on Wednesday. Genius Sports Limited has a 1 year low of $4.91 and a 1 year high of $10.33. The company has a market cap of $1.80 billion, a PE ratio of -26.17 and a beta of 2.15. The stock’s 50-day moving average is $8.97 and its 200 day moving average is $8.36.

Analyst Ratings Changes

GENI has been the topic of several analyst reports. Benchmark lifted their price objective on Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Citigroup lifted their price objective on Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Macquarie lifted their price objective on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price objective on shares of Genius Sports in a report on Friday, January 17th. Finally, The Goldman Sachs Group boosted their price target on Genius Sports from $8.50 to $11.50 and gave the company a “buy” rating in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.28.

Genius Sports 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.