Pier Capital LLC Raises Stock Holdings in SI-BONE, Inc. (NASDAQ:SIBN)

Pier Capital LLC lifted its position in shares of SI-BONE, Inc. (NASDAQ:SIBN - Free Report) by 23.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 465,898 shares of the company's stock after acquiring an additional 88,897 shares during the period. Pier Capital LLC owned approximately 1.11% of SI-BONE worth $6,513,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in SIBN. Millrace Asset Group Inc. acquired a new position in SI-BONE during the 3rd quarter worth approximately $1,056,000. Champlain Investment Partners LLC increased its position in SI-BONE by 14.7% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company's stock worth $39,145,000 after purchasing an additional 358,821 shares in the last quarter. Impax Asset Management Group plc increased its position in SI-BONE by 41.3% during the 3rd quarter. Impax Asset Management Group plc now owns 758,521 shares of the company's stock worth $10,604,000 after purchasing an additional 221,604 shares in the last quarter. American Century Companies Inc. increased its position in SI-BONE by 22.8% during the 2nd quarter. American Century Companies Inc. now owns 1,986,476 shares of the company's stock worth $25,685,000 after purchasing an additional 368,637 shares in the last quarter. Finally, Divisadero Street Capital Management LP acquired a new position in SI-BONE in the 2nd quarter valued at approximately $1,552,000. Institutional investors own 98.11% of the company's stock.

Insider Activity

In other news, insider Anthony J. Recupero sold 3,937 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $12.60, for a total value of $49,606.20. Following the completion of the transaction, the insider now directly owns 228,554 shares in the company, valued at approximately $2,879,780.40. This trade represents a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laura Francis sold 10,048 shares of SI-BONE stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $12.58, for a total transaction of $126,403.84. Following the sale, the chief executive officer now owns 482,875 shares of the company's stock, valued at approximately $6,074,567.50. The trade was a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,679 shares of company stock worth $276,439. 3.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Truist Financial upped their price target on shares of SI-BONE from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Needham & Company LLC restated a "buy" rating and issued a $19.00 price target on shares of SI-BONE in a research report on Wednesday, November 20th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SI-BONE currently has an average rating of "Buy" and an average price target of $23.00.

SI-BONE Stock Performance

NASDAQ SIBN traded up $0.12 during trading hours on Friday, reaching $13.52. 227,339 shares of the company were exchanged, compared to its average volume of 362,524. The stock has a market capitalization of $567.03 million, a P/E ratio of -14.70 and a beta of 1.20. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22. The business's 50 day simple moving average is $13.41 and its 200-day simple moving average is $14.09. SI-BONE, Inc. has a 1 year low of $11.70 and a 1 year high of $21.70.

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.