Northern Trust Corp Increases Holdings in SI-BONE, Inc. (NASDAQ:SIBN)

Northern Trust Corp lifted its position in SI-BONE, Inc. (NASDAQ:SIBN - Free Report) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 409,122 shares of the company's stock after purchasing an additional 24,214 shares during the period. Northern Trust Corp owned 0.98% of SI-BONE worth $5,736,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of SIBN. JPMorgan Chase & Co. lifted its holdings in SI-BONE by 14.7% during the third quarter. JPMorgan Chase & Co. now owns 177,793 shares of the company's stock worth $2,486,000 after buying an additional 22,732 shares during the period. Rhumbline Advisers increased its position in shares of SI-BONE by 3.0% during the fourth quarter. Rhumbline Advisers now owns 57,621 shares of the company's stock worth $808,000 after purchasing an additional 1,683 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of SI-BONE by 17.6% during the fourth quarter. MetLife Investment Management LLC now owns 27,421 shares of the company's stock worth $384,000 after purchasing an additional 4,104 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of SI-BONE during the fourth quarter worth $155,000. Finally, VELA Investment Management LLC increased its position in shares of SI-BONE by 23.8% during the fourth quarter. VELA Investment Management LLC now owns 122,671 shares of the company's stock worth $1,720,000 after purchasing an additional 23,592 shares in the last quarter. Hedge funds and other institutional investors own 98.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SIBN. Truist Financial upped their price target on SI-BONE from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Needham & Company LLC reaffirmed a "buy" rating and set a $24.00 price target on shares of SI-BONE in a research report on Tuesday, May 6th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $25.00 target price on shares of SI-BONE in a research report on Tuesday, May 6th.

Insiders Place Their Bets

In other news, CFO Anshul Maheshwari sold 4,937 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $17.00, for a total transaction of $83,929.00. Following the sale, the chief financial officer now directly owns 265,356 shares of the company's stock, valued at $4,511,052. This represents a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Laura Francis sold 38,504 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $17.18, for a total transaction of $661,498.72. Following the sale, the chief executive officer now directly owns 302,958 shares in the company, valued at approximately $5,204,818.44. The trade was a 11.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,565 shares of company stock valued at $1,669,871. Company insiders own 4.00% of the company's stock.

SI-BONE Price Performance

Shares of SIBN opened at $19.71 on Wednesday. The business's 50-day moving average is $15.02 and its two-hundred day moving average is $15.11. The company has a market capitalization of $839.94 million, a P/E ratio of -21.42 and a beta of 0.82. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.22 and a current ratio of 8.25. SI-BONE, Inc. has a fifty-two week low of $11.70 and a fifty-two week high of $20.05.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.