Arizona State Retirement System Grows Stake in SI-BONE, Inc. (NASDAQ:SIBN)

Arizona State Retirement System raised its holdings in SI-BONE, Inc. (NASDAQ:SIBN) by 9.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,921 shares of the company’s stock after buying an additional 903 shares during the quarter. Arizona State Retirement System’s holdings in SI-BONE were worth $141,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in SIBN. Amalgamated Bank boosted its holdings in SI-BONE by 12.9% in the fourth quarter. Amalgamated Bank now owns 5,877 shares of the company’s stock valued at $123,000 after acquiring an additional 673 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of SI-BONE by 24.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,649 shares of the company’s stock valued at $138,000 after purchasing an additional 2,108 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of SI-BONE during the 2nd quarter valued at about $152,000. RiverPark Advisors LLC increased its position in shares of SI-BONE by 260.4% during the first quarter. RiverPark Advisors LLC now owns 11,357 shares of the company’s stock valued at $186,000 after buying an additional 8,206 shares during the period. Finally, EntryPoint Capital LLC raised its stake in SI-BONE by 78.4% in the first quarter. EntryPoint Capital LLC now owns 13,906 shares of the company’s stock worth $228,000 after buying an additional 6,113 shares in the last quarter. 98.11% of the stock is owned by hedge funds and other institutional investors.

SI-BONE Stock Performance

Shares of SIBN opened at $15.68 on Thursday. The company has a quick ratio of 8.12, a current ratio of 9.17 and a debt-to-equity ratio of 0.22. The stock has a market cap of $646.09 million, a P/E ratio of -14.68 and a beta of 1.22. The business’s 50 day moving average price is $15.38 and its 200-day moving average price is $14.90. SI-BONE, Inc. has a 52 week low of $11.76 and a 52 week high of $23.12.

SI-BONE (NASDAQ:SIBN) last released its earnings results on Monday, August 5th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.04. SI-BONE had a negative return on equity of 24.27% and a negative net margin of 27.10%. The business had revenue of $39.97 million for the quarter, compared to the consensus estimate of $38.95 million. During the same period in the previous year, the company posted ($0.30) earnings per share. Equities research analysts anticipate that SI-BONE, Inc. will post -0.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SIBN. Needham & Company LLC reduced their target price on SI-BONE from $27.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Morgan Stanley reduced their price target on SI-BONE from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Finally, Truist Financial decreased their price objective on SI-BONE from $20.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $23.00.

Insider Buying and Selling

In other SI-BONE news, insider Anthony J. Recupero sold 3,309 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $12.92, for a total transaction of $42,752.28. Following the completion of the sale, the insider now directly owns 243,629 shares in the company, valued at approximately $3,147,686.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Anthony J. Recupero sold 3,309 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $12.92, for a total value of $42,752.28. Following the transaction, the insider now directly owns 243,629 shares of the company’s stock, valued at approximately $3,147,686.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anthony J. Recupero sold 2,087 shares of SI-BONE stock in a transaction on Monday, August 19th. The stock was sold at an average price of $14.17, for a total value of $29,572.79. Following the completion of the sale, the insider now directly owns 236,717 shares of the company’s stock, valued at approximately $3,354,279.89. The disclosure for this sale can be found here. Insiders have sold a total of 25,023 shares of company stock worth $347,749 in the last quarter. Corporate insiders own 5.40% of the company’s stock.

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.