Geode Capital Management LLC Grows Stock Position in SI-BONE, Inc. (NASDAQ:SIBN)

Geode Capital Management LLC lifted its stake in SI-BONE, Inc. (NASDAQ:SIBN) by 3.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 924,044 shares of the company’s stock after purchasing an additional 30,005 shares during the period. Geode Capital Management LLC’s holdings in SI-BONE were worth $12,921,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SIBN. FMR LLC raised its stake in SI-BONE by 103.6% in the third quarter. FMR LLC now owns 2,354 shares of the company’s stock valued at $33,000 after buying an additional 1,198 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in SI-BONE in the second quarter valued at $61,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in SI-BONE by 24.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,649 shares of the company’s stock valued at $138,000 after buying an additional 2,108 shares in the last quarter. Arizona State Retirement System raised its stake in SI-BONE by 9.0% in the second quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock valued at $141,000 after buying an additional 903 shares in the last quarter. Finally, Walleye Capital LLC acquired a new stake in SI-BONE in the third quarter valued at $144,000. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

SI-BONE Stock Down 0.1 %

SIBN opened at $13.71 on Tuesday. The business’s 50-day simple moving average is $13.46 and its 200-day simple moving average is $14.09. 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 one year low of $11.70 and a one year high of $21.64. The stock has a market capitalization of $574.97 million, a P/E ratio of -14.90 and a beta of 1.20.

Insider Transactions at SI-BONE

In related news, CFO Anshul Maheshwari sold 2,439 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $12.68, for a total transaction of $30,926.52. Following the transaction, the chief financial officer now owns 194,623 shares of the company’s stock, valued at $2,467,819.64. This trade represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Laura Francis sold 10,048 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $12.58, for a total value of $126,403.84. Following the transaction, the chief executive officer now directly owns 482,875 shares in the company, valued at approximately $6,074,567.50. This represents a 2.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,679 shares of company stock worth $276,439. Corporate insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SIBN. Truist Financial raised their price target on SI-BONE from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Needham & Company LLC restated a “buy” rating and issued a $19.00 price target on shares of SI-BONE in a research note on Wednesday, November 20th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, SI-BONE presently has an average rating of “Buy” and a consensus target price of $23.00.

SI-BONE 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.