JPMorgan Chase & Co. Increases Holdings in SI-BONE, Inc. (NASDAQ:SIBN)

JPMorgan Chase & Co. grew its holdings in SI-BONE, Inc. (NASDAQ:SIBN) by 14.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 177,793 shares of the company’s stock after buying an additional 22,732 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.42% of SI-BONE worth $2,486,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Franklin Resources Inc. lifted its stake in SI-BONE by 9.4% in the third quarter. Franklin Resources Inc. now owns 20,220 shares of the company’s stock worth $265,000 after acquiring an additional 1,745 shares during the period. Barclays PLC lifted its position in shares of SI-BONE by 190.8% in the 3rd quarter. Barclays PLC now owns 96,623 shares of the company’s stock worth $1,350,000 after purchasing an additional 63,402 shares during the period. Geode Capital Management LLC lifted its position in shares of SI-BONE by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 924,044 shares of the company’s stock worth $12,921,000 after purchasing an additional 30,005 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of SI-BONE during the 3rd quarter valued at about $448,000. Finally, Pier Capital LLC increased its position in shares of SI-BONE by 23.6% during the third quarter. Pier Capital LLC now owns 465,898 shares of the company’s stock valued at $6,513,000 after buying an additional 88,897 shares during the period. 98.11% of the stock is currently owned by institutional investors.

SI-BONE Price Performance

Shares of SI-BONE stock opened at $16.69 on Tuesday. SI-BONE, Inc. has a one year low of $11.70 and a one year high of $21.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.22 and a current ratio of 8.25. The stock has a market cap of $699.98 million, a P/E ratio of -18.14 and a beta of 1.16. The stock’s fifty day moving average is $13.83 and its 200 day moving average is $14.36.

Insider Buying and Selling

In related news, CFO Anshul Maheshwari sold 5,304 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $13.91, for a total transaction of $73,778.64. Following the completion of the transaction, the chief financial officer now owns 189,319 shares in the company, valued at approximately $2,633,427.29. This represents a 2.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Laura Francis sold 10,048 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $12.58, for a total value of $126,403.84. Following the transaction, the chief executive officer now owns 482,875 shares of the company’s stock, valued at approximately $6,074,567.50. The trade was a 2.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,348 shares of company stock valued at $356,349. 3.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Truist Financial raised their price objective on shares of SI-BONE from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Needham & Company LLC restated a “buy” rating and issued a $19.00 price objective on shares of SI-BONE in a report on Monday, January 13th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $23.00.

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.