Russell Investments Group Ltd. Boosts Position in SI-BONE, Inc. (NASDAQ:SIBN)

Russell Investments Group Ltd. raised its position in shares of SI-BONE, Inc. (NASDAQ:SIBN) by 421.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 112,441 shares of the company’s stock after purchasing an additional 90,892 shares during the period. Russell Investments Group Ltd. owned about 0.28% of SI-BONE worth $2,360,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. RiverPark Advisors LLC bought a new position in SI-BONE during the 3rd quarter worth about $55,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of SI-BONE by 48.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,435 shares of the company’s stock valued at $158,000 after acquiring an additional 2,437 shares during the period. Arizona State Retirement System raised its position in shares of SI-BONE by 7.7% in the 4th quarter. Arizona State Retirement System now owns 10,675 shares of the company’s stock worth $224,000 after acquiring an additional 762 shares in the last quarter. Semanteon Capital Management LP purchased a new stake in shares of SI-BONE during the 4th quarter worth $251,000. Finally, Bailard Inc. bought a new stake in SI-BONE during the fourth quarter valued at about $269,000. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other SI-BONE news, CFO Anshul Maheshwari sold 2,425 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $15.45, for a total value of $37,466.25. Following the transaction, the chief financial officer now owns 205,516 shares of the company’s stock, valued at $3,175,222.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Mika Nishimura sold 2,500 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $16.22, for a total transaction of $40,550.00. Following the completion of the transaction, the director now owns 19,350 shares of the company’s stock, valued at approximately $313,857. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Anshul Maheshwari sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $15.45, for a total value of $37,466.25. Following the completion of the sale, the chief financial officer now directly owns 205,516 shares in the company, valued at approximately $3,175,222.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,905 shares of company stock valued at $190,273. 5.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on SIBN shares. Morgan Stanley decreased their price target on shares of SI-BONE from $26.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, May 7th. Piper Sandler assumed coverage on shares of SI-BONE in a report on Thursday, March 28th. They issued an “overweight” rating and a $25.00 price target on the stock. JMP Securities reissued a “market outperform” rating and issued a $32.00 price objective on shares of SI-BONE in a report on Tuesday, May 7th. Needham & Company LLC restated a “buy” rating and set a $27.00 price target on shares of SI-BONE in a research report on Tuesday, May 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $25.00 price objective on shares of SI-BONE in a research report on Tuesday, February 27th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $27.29.

SI-BONE Trading Down 2.2 %

Shares of SI-BONE stock opened at $14.67 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 9.76 and a quick ratio of 8.75. The stock’s 50 day simple moving average is $15.60 and its 200-day simple moving average is $17.94. The stock has a market cap of $604.48 million, a P/E ratio of -13.46 and a beta of 1.24. SI-BONE, Inc. has a 1-year low of $13.96 and a 1-year high of $29.51.

SI-BONE (NASDAQ:SIBN) last released its quarterly earnings data on Monday, February 26th. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.02. SI-BONE had a negative return on equity of 25.14% and a negative net margin of 29.93%. The firm had revenue of $38.86 million for the quarter, compared to analysts’ expectations of $38.60 million. Analysts predict that SI-BONE, Inc. will post -0.95 EPS for the current fiscal year.

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.