Pier Capital LLC Acquires 7,225 Shares of SI-BONE, Inc. (NASDAQ:SIBN)

Pier Capital LLC boosted its holdings in SI-BONE, Inc. (NASDAQ:SIBN) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 473,123 shares of the company’s stock after acquiring an additional 7,225 shares during the period. Pier Capital LLC’s holdings in SI-BONE were worth $6,633,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. American Century Companies Inc. increased its holdings in shares of SI-BONE by 11.0% in the fourth quarter. American Century Companies Inc. now owns 2,378,068 shares of the company’s stock valued at $33,341,000 after purchasing an additional 236,167 shares during the last quarter. Bellevue Group AG boosted its holdings in shares of SI-BONE by 4.1% during the 3rd quarter. Bellevue Group AG now owns 1,444,109 shares of the company’s stock worth $20,189,000 after buying an additional 56,500 shares during the period. State Street Corp raised its holdings in SI-BONE by 5.1% in the 3rd quarter. State Street Corp now owns 1,081,871 shares of the company’s stock valued at $15,125,000 after acquiring an additional 52,972 shares during the period. Wellington Management Group LLP lifted its position in SI-BONE by 3.5% during the third quarter. Wellington Management Group LLP now owns 1,028,238 shares of the company’s stock worth $14,375,000 after acquiring an additional 35,220 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in SI-BONE by 3.4% during the third quarter. Geode Capital Management LLC now owns 924,044 shares of the company’s stock worth $12,921,000 after acquiring an additional 30,005 shares during the last quarter. Institutional investors and hedge funds own 98.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SIBN shares. Needham & Company LLC increased their target price on SI-BONE from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Truist Financial reiterated a “buy” rating and set a $22.00 price objective (up previously from $18.00) on shares of SI-BONE in a research report on Tuesday, February 25th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 target price on shares of SI-BONE in a research report on Tuesday, February 25th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $24.50.

Insider Buying and Selling at SI-BONE

In related news, insider Anthony J. Recupero sold 3,670 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $13.90, for a total value of $51,013.00. Following the sale, the insider now directly owns 222,814 shares of the company’s stock, valued at $3,097,114.60. This trade represents a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Anshul Maheshwari sold 5,304 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $13.91, for a total value of $73,778.64. Following the transaction, the chief financial officer now directly owns 189,319 shares of the company’s stock, valued at approximately $2,633,427.29. The trade was a 2.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,311 shares of company stock worth $130,356 over the last three months. Corporate insiders own 3.90% of the company’s stock.

SI-BONE Stock Performance

SIBN opened at $14.82 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.22 and a current ratio of 8.25. SI-BONE, Inc. has a 52-week low of $11.70 and a 52-week high of $19.16. The firm has a market cap of $629.15 million, a P/E ratio of -16.11 and a beta of 1.17. The business’s fifty day moving average is $16.59 and its 200-day moving average is $14.80.

SI-BONE (NASDAQ:SIBN) last released its earnings results on Monday, February 24th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.05. SI-BONE had a negative net margin of 23.82% and a negative return on equity of 22.51%. The firm had revenue of $49.00 million for the quarter, compared to analyst estimates of $48.87 million. Sell-side analysts expect that SI-BONE, Inc. will post -0.78 EPS for the current fiscal year.

SI-BONE Company Profile

SI-BONE, Inc, a medical device company, that operate to solve musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. It offers proprietary minimally invasive surgical implant system to address sacroiliac joint dysfunction and fusion, adult deformity and degeneration, and pelvic trauma; and implantable bone products.