Victory Capital Management Inc. Decreases Position in SI-BONE, Inc. (NASDAQ:SIBN)

Victory Capital Management Inc. lessened its stake in SI-BONE, Inc. (NASDAQ:SIBN - Free Report) by 11.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 407,378 shares of the company's stock after selling 52,960 shares during the quarter. Victory Capital Management Inc. owned 0.97% of SI-BONE worth $5,711,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Champlain Investment Partners LLC boosted its stake in shares of SI-BONE by 14.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company's stock valued at $39,145,000 after buying an additional 358,821 shares during the period. Bellevue Group AG boosted its stake in shares of SI-BONE by 4.1% in the 3rd quarter. Bellevue Group AG now owns 1,444,109 shares of the company's stock valued at $20,189,000 after buying an additional 56,500 shares during the period. State Street Corp boosted its stake in shares of 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 buying an additional 52,972 shares during the period. Wellington Management Group LLP boosted its stake in shares of SI-BONE by 3.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,028,238 shares of the company's stock valued at $14,375,000 after buying an additional 35,220 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of SI-BONE by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 924,044 shares of the company's stock valued at $12,921,000 after buying an additional 30,005 shares during the period. Hedge funds and other institutional investors own 98.11% of the company's stock.

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Insider Activity

In related news, insider Anthony J. Recupero sold 3,670 shares of the company's stock in a transaction on 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 $3,097,114.60. This represents a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Anshul Maheshwari sold 5,304 shares of the company's stock in a transaction on 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 in the company, valued at $2,633,427.29. This represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,311 shares of company stock valued at $130,356. Company insiders own 3.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Truist Financial reiterated a "buy" rating and issued a $22.00 price objective (up previously from $18.00) on shares of SI-BONE in a research note on Tuesday, February 25th. Needham & Company LLC boosted 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. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $25.00 target price on shares of SI-BONE in a research note on Tuesday, February 25th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, SI-BONE currently has a consensus rating of "Buy" and an average target price of $24.50.

SI-BONE Stock Performance

SIBN traded up $0.04 during trading on Friday, hitting $14.75. 183,199 shares of the stock were exchanged, compared to its average volume of 356,069. The firm has a market capitalization of $626.18 million, a P/E ratio of -16.03 and a beta of 1.17. SI-BONE, Inc. has a 1-year low of $11.70 and a 1-year high of $19.16. The stock has a fifty day moving average price of $16.54 and a two-hundred day moving average price of $14.87. 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 - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.05. The company had revenue of $49.00 million for the quarter, compared to analyst estimates 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, sell-side analysts predict that SI-BONE, Inc. will post -0.78 earnings per share for the current 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.