Franklin Resources Inc. Grows Position in SI-BONE, Inc. (NASDAQ:SIBN)

Franklin Resources Inc. raised its position in SI-BONE, Inc. (NASDAQ:SIBN) by 9.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,220 shares of the company’s stock after acquiring an additional 1,745 shares during the quarter. Franklin Resources Inc.’s holdings in SI-BONE were worth $265,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. lifted its position in shares of SI-BONE by 222.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 620,490 shares of the company’s stock worth $8,674,000 after buying an additional 428,110 shares during the last quarter. American Century Companies Inc. lifted its position in SI-BONE by 22.8% in the second quarter. American Century Companies Inc. now owns 1,986,476 shares of the company’s stock valued at $25,685,000 after acquiring an additional 368,637 shares during the last quarter. Champlain Investment Partners LLC lifted its position in SI-BONE by 14.7% in the third quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company’s stock valued at $39,145,000 after acquiring an additional 358,821 shares during the last quarter. Paradigm Capital Management Inc. NY boosted its stake in SI-BONE by 24.7% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,349,400 shares of the company’s stock valued at $17,448,000 after acquiring an additional 267,100 shares in the last quarter. Finally, Impax Asset Management Group plc grew its holdings in shares of SI-BONE by 41.3% during the third 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 during the last quarter. Institutional investors and hedge funds own 98.11% of the company’s stock.

Insider Buying and Selling at SI-BONE

In related news, CEO Laura Francis sold 10,048 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $12.58, for a total transaction of $126,403.84. Following the completion of the transaction, the chief executive officer now directly owns 482,875 shares of the company’s stock, valued at $6,074,567.50. This represents a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Anshul Maheshwari sold 2,439 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $12.68, for a total value of $30,926.52. Following the transaction, the chief financial officer now owns 194,623 shares in the company, valued at $2,467,819.64. The trade was a 1.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,374 shares of company stock worth $231,557. 3.90% of the stock is currently owned by insiders.

SI-BONE Stock Performance

Shares of SIBN stock opened at $14.02 on Thursday. The stock’s 50-day moving average price is $13.52 and its 200 day moving average price is $14.11. 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 $587.97 million, a PE ratio of -15.24 and a beta of 1.20. SI-BONE, Inc. has a 52-week low of $11.70 and a 52-week high of $21.64.

Analysts Set New Price Targets

SIBN has been the subject of a number of research analyst reports. Truist Financial upped their target price on 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 reissued a “buy” rating and issued a $19.00 price objective on shares of SI-BONE in a report on Wednesday, November 20th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target 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.