Allspring Global Investments Holdings LLC Trims Stake in SI-BONE, Inc. (NASDAQ:SIBN)

Allspring Global Investments Holdings LLC lowered its position in SI-BONE, Inc. (NASDAQ:SIBN - Free Report) by 30.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 469,486 shares of the company's stock after selling 208,874 shares during the period. Allspring Global Investments Holdings LLC owned 1.16% of SI-BONE worth $9,855,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in SI-BONE by 2.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,973 shares of the company's stock worth $354,000 after acquiring an additional 457 shares in the last quarter. FMR LLC boosted its holdings in SI-BONE by 28.7% in the first quarter. FMR LLC now owns 2,160 shares of the company's stock worth $42,000 after acquiring an additional 482 shares in the last quarter. Voya Investment Management LLC raised its stake in shares of SI-BONE by 2.3% in the fourth quarter. Voya Investment Management LLC now owns 23,851 shares of the company's stock worth $324,000 after purchasing an additional 528 shares during the last quarter. RiverPark Advisors LLC raised its stake in shares of SI-BONE by 22.6% in the fourth quarter. RiverPark Advisors LLC now owns 3,151 shares of the company's stock worth $66,000 after purchasing an additional 580 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of SI-BONE by 7.7% in the fourth quarter. Arizona State Retirement System now owns 10,675 shares of the company's stock worth $224,000 after purchasing an additional 762 shares during the last quarter. Institutional investors own 98.11% of the company's stock.

Insider Buying and Selling at SI-BONE

In other SI-BONE news, Director Mika Nishimura sold 2,500 shares of the firm's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $16.22, for a total transaction of $40,550.00. Following the sale, the director now owns 19,350 shares in the company, valued at $313,857. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Mika Nishimura sold 2,500 shares of SI-BONE stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $16.22, for a total value of $40,550.00. Following the transaction, the director now owns 19,350 shares in the company, valued at $313,857. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Anthony J. Recupero sold 3,307 shares of SI-BONE stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $15.50, for a total value of $51,258.50. Following the completion of the transaction, the insider now owns 252,453 shares in the company, valued at approximately $3,913,021.50. The disclosure for this sale can be found here. Insiders have sold 11,562 shares of company stock worth $185,285 over the last 90 days. Corporate insiders own 5.40% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Morgan Stanley increased their price objective on SI-BONE from $25.00 to $26.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 27th. Truist Financial reissued a "buy" rating and issued a $24.00 price objective (down from $26.00) on shares of SI-BONE in a research note on Tuesday, February 27th. Piper Sandler assumed coverage on SI-BONE in a research note on Thursday, March 28th. They issued an "overweight" rating and a $25.00 price objective for the company. Cantor Fitzgerald reissued an "overweight" rating and issued a $25.00 price objective on shares of SI-BONE in a research note on Tuesday, February 27th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $27.00 price target on shares of SI-BONE in a research report on Wednesday, April 3rd. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $26.67.

SI-BONE Stock Performance

Shares of SIBN traded down $0.11 on Wednesday, reaching $15.23. 276,788 shares of the company's stock traded hands, compared to its average volume of 438,651. The company has a current ratio of 9.01, a quick ratio of 8.15 and a debt-to-equity ratio of 0.21. The stock has a market cap of $625.34 million, a PE ratio of -13.36 and a beta of 1.20. The stock's 50 day simple moving average is $17.43 and its two-hundred day simple moving average is $18.41. SI-BONE, Inc. has a 52-week low of $14.84 and a 52-week high of $29.51.

SI-BONE (NASDAQ:SIBN - Get Free Report) last posted its quarterly earnings data on Monday, February 26th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.02. SI-BONE had a negative return on equity of 28.22% and a negative net margin of 31.20%. The company had revenue of $38.86 million during the quarter, compared to analyst estimates of $38.60 million. On average, analysts forecast that SI-BONE, Inc. will post -0.98 earnings per share for the current fiscal year.

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.