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

Victory Capital Management Inc. decreased its position in SI-BONE, Inc. (NASDAQ:SIBN) by 0.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 460,338 shares of the company’s stock after selling 2,910 shares during the period. Victory Capital Management Inc. owned approximately 1.10% of SI-BONE worth $6,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board purchased a new position in SI-BONE in the 2nd quarter worth $61,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in SI-BONE by 24.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,649 shares of the company’s stock worth $138,000 after acquiring an additional 2,108 shares during the last quarter. Arizona State Retirement System raised its stake in SI-BONE by 9.0% in the 2nd quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock worth $141,000 after acquiring an additional 903 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in SI-BONE during the 2nd quarter worth about $151,000. Finally, Assenagon Asset Management S.A. acquired a new stake in SI-BONE during the 2nd quarter worth about $152,000. Hedge funds and other institutional investors own 98.11% of the company’s stock.

SI-BONE Price Performance

NASDAQ:SIBN opened at $12.56 on Friday. SI-BONE, Inc. has a 52 week low of $11.70 and a 52 week high of $21.70. 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 stock has a market capitalization of $526.74 million, a PE ratio of -13.65 and a beta of 1.22. The stock’s 50-day moving average price is $13.72 and its 200-day moving average price is $14.22.

Insider Activity

In related news, CFO Anshul Maheshwari sold 2,439 shares of SI-BONE stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $12.68, for a total value of $30,926.52. Following the sale, the chief financial officer now directly owns 194,623 shares in the company, valued at approximately $2,467,819.64. The trade was a 1.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Laura Francis sold 10,048 shares of SI-BONE stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $12.58, for a total value of $126,403.84. Following the completion of the sale, the chief executive officer now owns 482,875 shares in the company, 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. Insiders have sold 23,093 shares of company stock worth $299,558 in the last ninety days. Company insiders own 3.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SIBN shares. Truist Financial increased their price target on SI-BONE from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Morgan Stanley cut their price target on SI-BONE from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price target on shares of SI-BONE in a research report on Wednesday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, SI-BONE has a consensus rating of “Buy” and a consensus target price of $23.00.

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.