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

Pier Capital LLC lifted its stake in SI-BONE, Inc. (NASDAQ:SIBN) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 473,123 shares of the company’s stock after purchasing an additional 7,225 shares during the period. Pier Capital LLC owned 1.13% of SI-BONE worth $6,633,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. FMR LLC lifted its stake in SI-BONE by 103.6% in the third quarter. FMR LLC now owns 2,354 shares of the company’s stock valued at $33,000 after buying an additional 1,198 shares during the period. Rhumbline Advisers raised its position in shares of SI-BONE by 3.0% in the 4th quarter. Rhumbline Advisers now owns 57,621 shares of the company’s stock valued at $808,000 after acquiring an additional 1,683 shares during the period. Franklin Resources Inc. raised its position in shares of SI-BONE by 9.4% in the 3rd quarter. Franklin Resources Inc. now owns 20,220 shares of the company’s stock valued at $265,000 after acquiring an additional 1,745 shares during the period. Mainstream Capital Management LLC bought a new position in SI-BONE during the 4th quarter worth approximately $53,000. Finally, R Squared Ltd acquired a new position in SI-BONE during the fourth quarter valued at approximately $73,000. 98.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at SI-BONE

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

Analysts Set New Price Targets

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

SI-BONE Trading Up 1.1 %

Shares of NASDAQ:SIBN opened at $14.82 on Tuesday. The firm has a market cap of $629.15 million, a price-to-earnings ratio of -16.11 and a beta of 1.17. SI-BONE, Inc. has a 12 month low of $11.70 and a 12 month high of $19.16. The company’s fifty day simple moving average is $16.59 and its 200 day simple moving average is $14.80. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22.

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

About SI-BONE

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.