Victory Capital Management Inc. Cuts Stock Holdings in SI-BONE, Inc. (NASDAQ:SIBN)

Victory Capital Management Inc. lowered its stake in SI-BONE, Inc. (NASDAQ:SIBN) by 19.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 463,248 shares of the company’s stock after selling 113,429 shares during the quarter. Victory Capital Management Inc. owned about 1.12% of SI-BONE worth $5,990,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Amalgamated Bank lifted its position in shares of SI-BONE by 12.9% in the fourth quarter. Amalgamated Bank now owns 5,877 shares of the company’s stock worth $123,000 after buying an additional 673 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of SI-BONE by 1.5% in the second quarter. Rhumbline Advisers now owns 59,419 shares of the company’s stock valued at $768,000 after purchasing an additional 852 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in SI-BONE by 7.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,494 shares of the company’s stock worth $336,000 after purchasing an additional 1,372 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in SI-BONE by 24.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,649 shares of the company’s stock valued at $138,000 after purchasing an additional 2,108 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its position in shares of SI-BONE by 9.6% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 29,530 shares of the company’s stock valued at $620,000 after buying an additional 2,578 shares in the last quarter. Institutional investors own 98.11% of the company’s stock.

Insider Buying and Selling at SI-BONE

In other news, CEO Laura Francis sold 9,967 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $13.84, for a total transaction of $137,943.28. Following the sale, the chief executive officer now owns 492,923 shares in the company, valued at $6,822,054.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Laura Francis sold 9,967 shares of SI-BONE stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.84, for a total transaction of $137,943.28. Following the completion of the sale, the chief executive officer now directly owns 492,923 shares in the company, valued at $6,822,054.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Anthony J. Recupero sold 2,087 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $14.17, for a total transaction of $29,572.79. Following the sale, the insider now directly owns 236,717 shares in the company, valued at $3,354,279.89. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,023 shares of company stock worth $347,749. 5.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SIBN. Morgan Stanley cut their target price on SI-BONE from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Needham & Company LLC cut their price target on shares of SI-BONE from $27.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Truist Financial reduced their price target on shares of SI-BONE from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $23.00.

SI-BONE Stock Performance

SIBN stock opened at $15.73 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 9.17 and a quick ratio of 8.12. SI-BONE, Inc. has a 1-year low of $11.76 and a 1-year high of $23.12. The business has a 50-day moving average price of $15.30 and a 200 day moving average price of $14.93. The company has a market capitalization of $655.78 million, a P/E ratio of -14.43 and a beta of 1.22.

SI-BONE (NASDAQ:SIBN) last posted its earnings results on Monday, August 5th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.04. The company had revenue of $39.97 million during the quarter, compared to analyst estimates of $38.95 million. SI-BONE had a negative return on equity of 24.27% and a negative net margin of 27.10%. During the same quarter in the prior year, the business earned ($0.30) earnings per share. As a group, equities research analysts forecast that SI-BONE, Inc. will post -0.89 EPS for the current fiscal year.

SI-BONE 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.