Harbor Capital Advisors Inc. Sells 308,333 Shares of SI-BONE, Inc. (NASDAQ:SIBN)

Harbor Capital Advisors Inc. lessened its position in shares of SI-BONE, Inc. (NASDAQ:SIBN - Free Report) by 36.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 532,712 shares of the company's stock after selling 308,333 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 1.25% of SI-BONE worth $7,474,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Silvercrest Asset Management Group LLC grew its stake in SI-BONE by 21.9% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,953,806 shares of the company's stock worth $27,392,000 after purchasing an additional 350,970 shares during the period. American Century Companies Inc. grew its position in shares of SI-BONE by 11.0% during the 4th quarter. American Century Companies Inc. now owns 2,378,068 shares of the company's stock worth $33,341,000 after buying an additional 236,167 shares during the period. Marshall Wace LLP increased its stake in shares of SI-BONE by 332.5% in the 4th quarter. Marshall Wace LLP now owns 264,523 shares of the company's stock valued at $3,709,000 after acquiring an additional 203,361 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of SI-BONE by 17.8% in the 4th quarter. Nuveen Asset Management LLC now owns 1,263,988 shares of the company's stock valued at $17,721,000 after acquiring an additional 190,830 shares in the last quarter. Finally, First Eagle Investment Management LLC acquired a new position in shares of SI-BONE during the 4th quarter valued at $2,600,000. Institutional investors and hedge funds own 98.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $25.00 target price on shares of SI-BONE in a research report on Tuesday, May 6th. Needham & Company LLC reiterated a "buy" rating and set a $24.00 price target on shares of SI-BONE in a report on Tuesday, May 6th. Finally, Truist Financial increased their price target on SI-BONE from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th.

Insider Activity

In other news, CEO Laura Francis sold 38,504 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $17.18, for a total value of $661,498.72. Following the sale, the chief executive officer now owns 302,958 shares of the company's stock, valued at $5,204,818.44. The trade was a 11.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Anshul Maheshwari sold 9,585 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $19.76, for a total value of $189,399.60. Following the sale, the chief financial officer now owns 224,507 shares in the company, valued at approximately $4,436,258.32. This represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,942 shares of company stock valued at $1,734,203 in the last three months. Company insiders own 4.00% of the company's stock.

SI-BONE Stock Performance

Shares of SIBN traded down $0.54 on Thursday, reaching $18.27. 127,941 shares of the company's stock traded hands, compared to its average volume of 382,657. The stock's 50 day simple moving average is $16.41 and its two-hundred day simple moving average is $15.65. The stock has a market cap of $778.58 million, a PE ratio of -19.86 and a beta of 0.94. SI-BONE, Inc. has a 52-week low of $11.70 and a 52-week high of $20.05. The company has a current ratio of 8.25, a quick ratio of 7.22 and a debt-to-equity ratio of 0.22.

SI-BONE (NASDAQ:SIBN - Get Free Report) last released its earnings results on Monday, May 5th. The company reported ($0.15) EPS for the quarter, topping analysts' consensus estimates of ($0.24) by $0.09. The company had revenue of $47.29 million for the quarter, compared to analysts' expectations of $45.13 million. SI-BONE had a negative return on equity of 22.51% and a negative net margin of 23.82%. On average, analysts forecast that SI-BONE, Inc. will post -0.78 earnings per share for the current fiscal year.

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.