Pier Capital LLC Sells 6,123 Shares of Inari Medical, Inc. (NASDAQ:NARI)

Pier Capital LLC lowered its position in Inari Medical, Inc. (NASDAQ:NARI) by 5.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 104,537 shares of the company’s stock after selling 6,123 shares during the period. Pier Capital LLC owned approximately 0.18% of Inari Medical worth $5,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its stake in Inari Medical by 1.8% in the fourth quarter. D.A. Davidson & CO. now owns 10,570 shares of the company’s stock worth $686,000 after purchasing an additional 188 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Inari Medical by 16.4% during the first quarter. Bessemer Group Inc. now owns 2,439 shares of the company’s stock valued at $117,000 after acquiring an additional 344 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Inari Medical by 7.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,852 shares of the company’s stock valued at $234,000 after acquiring an additional 348 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Inari Medical by 2.5% during the second quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock valued at $703,000 after acquiring an additional 358 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of Inari Medical by 30.2% during the first quarter. Covestor Ltd now owns 1,619 shares of the company’s stock valued at $78,000 after acquiring an additional 376 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Mitch C. Hill sold 5,000 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $47.99, for a total transaction of $239,950.00. Following the completion of the sale, the chief financial officer now owns 179,600 shares in the company, valued at approximately $8,619,004. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Andrew Hykes sold 3,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $50.08, for a total transaction of $150,240.00. Following the sale, the chief executive officer now owns 462,474 shares in the company, valued at $23,160,697.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mitch C. Hill sold 5,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $47.99, for a total value of $239,950.00. Following the sale, the chief financial officer now owns 179,600 shares in the company, valued at approximately $8,619,004. The disclosure for this sale can be found here. Over the last three months, insiders have sold 112,780 shares of company stock valued at $6,155,074. 10.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NARI has been the subject of several research analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $50.00 price target on shares of Inari Medical in a research note on Monday, August 26th. William Blair initiated coverage on shares of Inari Medical in a research note on Thursday, July 25th. They set an “outperform” rating for the company. Leerink Partners initiated coverage on shares of Inari Medical in a research note on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 price target for the company. Truist Financial reaffirmed a “hold” rating and set a $55.00 price target (down previously from $60.00) on shares of Inari Medical in a research note on Wednesday, July 31st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.50.

Inari Medical Stock Up 0.4 %

NASDAQ NARI opened at $44.80 on Wednesday. Inari Medical, Inc. has a 52 week low of $36.73 and a 52 week high of $69.40. The company has a 50 day moving average price of $49.12 and a 200 day moving average price of $46.35. The firm has a market cap of $2.60 billion, a PE ratio of -109.27 and a beta of 1.00.

About Inari Medical

Inari Medical, Inc builds minimally invasive, novel, and catheter-based mechanical thrombectomy devices and accessories for the specific disease states in the United States. The company provides ClotTriever system, which is designed to core, capture, and remove large clots from large vessels for treatment of deep vein thrombosis and peripheral thrombus; FlowTriever system, a large bore catheter-based aspiration and mechanical thrombectomy system to remove large clots from large vessels in the peripheral vasculature for treating pulmonary embolism and other complex venous thromboembolism cases; InThrill system to treat small vessel thrombosis; and LimFlow system for patients who have chronic limb-threatening ischemia with no suitable endovascular or surgical revascularization options and risk of major amputation.