Allspring Global Investments Holdings LLC Sells 302,766 Shares of SI-BONE, Inc. (NASDAQ:SIBN)

Allspring Global Investments Holdings LLC cut its holdings in SI-BONE, Inc. (NASDAQ:SIBN) by 64.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 166,720 shares of the company’s stock after selling 302,766 shares during the period. Allspring Global Investments Holdings LLC’s holdings in SI-BONE were worth $2,729,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SIBN. Diversified Trust Co purchased a new position in shares of SI-BONE in the first quarter worth $339,000. Wellington Management Group LLP lifted its stake in SI-BONE by 34.9% during the 4th quarter. Wellington Management Group LLP now owns 817,048 shares of the company’s stock valued at $17,150,000 after acquiring an additional 211,209 shares during the period. Bullseye Asset Management LLC boosted its holdings in shares of SI-BONE by 218.6% during the 4th quarter. Bullseye Asset Management LLC now owns 102,024 shares of the company’s stock valued at $2,141,000 after acquiring an additional 70,000 shares during the last quarter. Granahan Investment Management LLC grew its stake in shares of SI-BONE by 13.2% in the fourth quarter. Granahan Investment Management LLC now owns 1,286,450 shares of the company’s stock worth $27,003,000 after acquiring an additional 150,217 shares during the period. Finally, First Light Asset Management LLC raised its holdings in shares of SI-BONE by 0.9% during the fourth quarter. First Light Asset Management LLC now owns 2,547,392 shares of the company’s stock valued at $53,470,000 after purchasing an additional 23,299 shares during the last quarter. 98.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on SIBN. JMP Securities reaffirmed a “market outperform” rating and issued a $32.00 target price on shares of SI-BONE in a research report on Tuesday, May 7th. Piper Sandler assumed coverage on SI-BONE in a report on Thursday, March 28th. They issued an “overweight” rating and a $25.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $27.00 target price on shares of SI-BONE in a report on Tuesday, May 7th. Finally, Morgan Stanley cut their price target on SI-BONE from $26.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, May 7th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $26.33.

SI-BONE Price Performance

Shares of NASDAQ SIBN opened at $13.00 on Wednesday. SI-BONE, Inc. has a 1 year low of $11.76 and a 1 year high of $27.86. The firm has a fifty day moving average price of $13.76 and a 200-day moving average price of $16.80. The company has a debt-to-equity ratio of 0.22, a current ratio of 9.76 and a quick ratio of 8.75.

SI-BONE (NASDAQ:SIBN) last issued its quarterly earnings results on Monday, May 6th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.02. SI-BONE had a negative return on equity of 25.14% and a negative net margin of 29.93%. The business had revenue of $37.87 million during the quarter, compared to analyst estimates of $36.45 million. Analysts anticipate that SI-BONE, Inc. will post -0.95 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Anshul Maheshwari sold 2,441 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $15.14, for a total value of $36,956.74. Following the transaction, the chief financial officer now directly owns 204,241 shares of the company’s stock, valued at approximately $3,092,208.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other SI-BONE news, CFO Anshul Maheshwari sold 2,441 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $15.14, for a total transaction of $36,956.74. Following the completion of the sale, the chief financial officer now directly owns 204,241 shares of the company’s stock, valued at approximately $3,092,208.74. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Anthony J. Recupero sold 3,941 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $15.10, for a total transaction of $59,509.10. Following the completion of the transaction, the insider now directly owns 247,592 shares in the company, valued at approximately $3,738,639.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,647 shares of company stock worth $129,803. 5.40% of the stock is owned by corporate insiders.

SI-BONE Company 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.