Bank of New York Mellon Corp Sells 904 Shares of SI-BONE, Inc. (NASDAQ:SIBN)

Bank of New York Mellon Corp decreased its position in SI-BONE, Inc. (NASDAQ:SIBN) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,206 shares of the company’s stock after selling 904 shares during the period. Bank of New York Mellon Corp owned approximately 0.27% of SI-BONE worth $1,559,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. FMR LLC lifted its stake in SI-BONE by 103.6% during the 3rd quarter. FMR LLC now owns 2,354 shares of the company’s stock valued at $33,000 after acquiring an additional 1,198 shares during the period. Rhumbline Advisers lifted its stake in SI-BONE by 3.0% during the 4th quarter. Rhumbline Advisers now owns 57,621 shares of the company’s stock valued at $808,000 after acquiring an additional 1,683 shares during the period. Franklin Resources Inc. lifted its stake in SI-BONE by 9.4% during the 3rd quarter. Franklin Resources Inc. now owns 20,220 shares of the company’s stock valued at $265,000 after acquiring an additional 1,745 shares during the period. R Squared Ltd bought a new position in SI-BONE during the 4th quarter valued at about $73,000. Finally, Legato Capital Management LLC lifted its stake in SI-BONE by 9.1% during the 4th quarter. Legato Capital Management LLC now owns 62,707 shares of the company’s stock valued at $879,000 after acquiring an additional 5,209 shares during the period. Institutional investors own 98.11% of the company’s stock.

SI-BONE Price Performance

Shares of NASDAQ:SIBN opened at $14.66 on Friday. The firm’s 50 day moving average price is $16.62 and its 200-day moving average price is $14.81. SI-BONE, Inc. has a twelve month low of $11.70 and a twelve month high of $19.16. 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 $622.36 million, a PE ratio of -15.93 and a beta of 1.17.

SI-BONE (NASDAQ:SIBN) last released its earnings results on Monday, February 24th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.05. The company had revenue of $49.00 million during the quarter, compared to analyst estimates of $48.87 million. SI-BONE had a negative net margin of 23.82% and a negative return on equity of 22.51%. Equities research analysts expect that SI-BONE, Inc. will post -0.78 EPS for the current year.

Insider Buying and Selling

In related news, CFO Anshul Maheshwari sold 5,304 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $13.91, for a total value of $73,778.64. Following the completion of the sale, the chief financial officer now directly owns 189,319 shares of the company’s stock, valued at approximately $2,633,427.29. This represents a 2.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anthony J. Recupero sold 3,670 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 9,311 shares of company stock valued at $130,356. 3.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SIBN has been the topic of several research analyst reports. 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. Needham & Company LLC increased their price objective on shares of SI-BONE from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Finally, 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. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, SI-BONE currently has a consensus rating of “Buy” and a consensus target price of $24.50.

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.