Paragon 28, Inc. (NYSE:FNA) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. cut its holdings in Paragon 28, Inc. (NYSE:FNA - Free Report) by 36.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 258,214 shares of the company's stock after selling 145,497 shares during the period. Point72 Asset Management L.P. owned about 0.31% of Paragon 28 worth $1,725,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. First Light Asset Management LLC raised its holdings in shares of Paragon 28 by 115.0% in the second quarter. First Light Asset Management LLC now owns 8,174,832 shares of the company's stock worth $55,916,000 after acquiring an additional 4,371,864 shares during the last quarter. Millennium Management LLC increased its position in Paragon 28 by 5,834.0% during the 2nd quarter. Millennium Management LLC now owns 725,489 shares of the company's stock worth $4,962,000 after purchasing an additional 713,263 shares in the last quarter. Peregrine Capital Management LLC acquired a new position in Paragon 28 in the 2nd quarter valued at about $3,351,000. Thrivent Financial for Lutherans lifted its holdings in Paragon 28 by 15.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,021,188 shares of the company's stock valued at $6,986,000 after purchasing an additional 135,911 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Paragon 28 during the 2nd quarter worth about $869,000. 63.57% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Paragon 28

In related news, major shareholder Mvm Partners, Llc sold 4,256 shares of the firm's stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $10.00, for a total value of $42,560.00. Following the transaction, the insider now owns 10,499,960 shares in the company, valued at approximately $104,999,600. This trade represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 252,914 shares of company stock worth $2,585,514. 15.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FNA shares. Canaccord Genuity Group cut their price objective on shares of Paragon 28 from $17.00 to $15.00 and set a "buy" rating for the company in a research report on Wednesday, November 13th. Needham & Company LLC boosted their price target on Paragon 28 from $11.00 to $13.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Finally, Stephens raised Paragon 28 to a "strong-buy" rating in a research note on Monday, December 2nd. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Paragon 28 has a consensus rating of "Buy" and an average target price of $15.60.

Paragon 28 Trading Down 0.6 %

Shares of FNA traded down $0.06 during mid-day trading on Wednesday, hitting $10.44. The company had a trading volume of 581,301 shares, compared to its average volume of 608,905. Paragon 28, Inc. has a 1-year low of $4.65 and a 1-year high of $14.79. The business's 50-day simple moving average is $7.62 and its 200-day simple moving average is $7.42. The stock has a market cap of $874.04 million, a PE ratio of -14.11 and a beta of 1.50. The company has a quick ratio of 1.60, a current ratio of 3.50 and a debt-to-equity ratio of 0.79.

Paragon 28 (NYSE:FNA - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, beating analysts' consensus estimates of ($0.16) by $0.01. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. The company had revenue of $62.30 million for the quarter, compared to analyst estimates of $60.58 million. During the same quarter last year, the business earned ($0.10) EPS. Paragon 28's revenue for the quarter was up 18.0% on a year-over-year basis. Sell-side analysts forecast that Paragon 28, Inc. will post -0.66 earnings per share for the current year.

Paragon 28 Company Profile

Paragon 28, Inc develops, distributes, and sells foot and ankle surgical systems in the United States and internationally. It offers plating systems, including gorilla plating systems, such as lisfranc, lapidus, lateral column, calcaneus slide, and naviculocuneiform (NC) fusion plating systems; baby gorilla plate-specific screws, navicular fracture plates, and 5th metatarsal hook plates; and silverback plating systems.