Wellington Management Group LLP Lowers Position in SI-BONE, Inc. (NASDAQ:SIBN)

Wellington Management Group LLP cut its stake in shares of SI-BONE, Inc. (NASDAQ:SIBN) by 50.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 504,687 shares of the company’s stock after selling 523,551 shares during the quarter. Wellington Management Group LLP owned 1.20% of SI-BONE worth $7,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in shares of SI-BONE by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 315,092 shares of the company’s stock valued at $4,405,000 after buying an additional 5,966 shares during the last quarter. FMR LLC raised its position in SI-BONE by 103.6% during the 3rd quarter. FMR LLC now owns 2,354 shares of the company’s stock valued at $33,000 after purchasing an additional 1,198 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of SI-BONE in the 3rd quarter valued at about $144,000. Janus Henderson Group PLC raised its stake in SI-BONE by 90.4% in the 3rd quarter. Janus Henderson Group PLC now owns 22,582 shares of the company’s stock worth $316,000 after acquiring an additional 10,721 shares during the last quarter. Finally, State Street Corp boosted its position in SI-BONE by 5.1% in the 3rd quarter. State Street Corp now owns 1,081,871 shares of the company’s stock worth $15,125,000 after purchasing an additional 52,972 shares in the last quarter. 98.11% of the stock is owned by institutional investors.

Insider Buying and Selling at SI-BONE

In other news, insider Anthony J. Recupero sold 3,311 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $14.15, for a total value of $46,850.65. Following the transaction, the insider now directly owns 284,555 shares of the company’s stock, valued at $4,026,453.25. The trade was a 1.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael A. Pisetsky sold 3,128 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $14.14, for a total transaction of $44,229.92. Following the transaction, the senior vice president now owns 244,878 shares in the company, valued at approximately $3,462,574.92. This trade represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,776 shares of company stock valued at $96,644 in the last ninety days. Company insiders own 3.90% of the company’s stock.

SI-BONE Trading Down 4.8 %

SI-BONE stock opened at $13.25 on Friday. The firm has a 50 day simple moving average of $15.74 and a 200-day simple moving average of $14.64. The stock has a market capitalization of $562.50 million, a PE ratio of -14.40 and a beta of 1.02. SI-BONE, Inc. has a 12-month low of $11.70 and a 12-month high of $19.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.25 and a quick ratio of 7.22.

SI-BONE (NASDAQ:SIBN) last released its earnings results on Monday, February 24th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. The company had revenue of $49.00 million during the quarter, compared to the consensus estimate of $48.87 million. SI-BONE had a negative net margin of 23.82% and a negative return on equity of 22.51%. As a group, equities research analysts expect that SI-BONE, Inc. will post -0.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SIBN. Truist Financial reissued a “buy” rating and issued a $22.00 price objective (up previously from $18.00) on shares of SI-BONE in a report on Tuesday, February 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price objective on shares of SI-BONE in a research report on Tuesday, February 25th. Finally, Needham & Company LLC lifted their price target on shares of SI-BONE from $20.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, SI-BONE presently has a consensus rating of “Buy” and an average target price of $24.40.

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.