Silk Road Medical, Inc (NASDAQ:SILK) Holdings Lowered by CNA Financial Corp

CNA Financial Corp lowered its stake in Silk Road Medical, Inc (NASDAQ:SILKGet Rating) by 14.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,438 shares of the company’s stock after selling 3,095 shares during the quarter. CNA Financial Corp owned approximately 0.05% of Silk Road Medical worth $761,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. ProShare Advisors LLC increased its position in shares of Silk Road Medical by 72.6% in the fourth quarter. ProShare Advisors LLC now owns 7,501 shares of the company’s stock worth $320,000 after acquiring an additional 3,155 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Silk Road Medical by 19.4% in the fourth quarter. SG Americas Securities LLC now owns 24,757 shares of the company’s stock valued at $1,055,000 after purchasing an additional 4,023 shares in the last quarter. First Trust Advisors LP acquired a new stake in shares of Silk Road Medical in the fourth quarter worth $1,698,000. Deerfield Management Company L.P. Series C grew its holdings in shares of Silk Road Medical by 53.2% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 1,517,181 shares of the company’s stock valued at $64,647,000 after buying an additional 526,930 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in Silk Road Medical by 2.2% during the fourth quarter. Alliancebernstein L.P. now owns 2,988,334 shares of the company’s stock valued at $127,333,000 after buying an additional 63,415 shares during the period.

Insider Activity at Silk Road Medical

In other Silk Road Medical news, CEO Erica J. Rogers sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $48.60, for a total transaction of $486,000.00. Following the completion of the sale, the chief executive officer now directly owns 246,199 shares in the company, valued at $11,965,271.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Erica J. Rogers sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $48.60, for a total value of $486,000.00. Following the completion of the sale, the chief executive officer now directly owns 246,199 shares of the company’s stock, valued at $11,965,271.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Lucas W. Buchanan sold 25,000 shares of the business’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $47.79, for a total transaction of $1,194,750.00. Following the transaction, the chief financial officer now directly owns 191,764 shares in the company, valued at approximately $9,164,401.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 105,000 shares of company stock worth $4,698,350. 7.66% of the stock is owned by insiders.

Silk Road Medical Stock Performance

SILK stock traded down $3.12 during midday trading on Wednesday, hitting $44.65. 9,407 shares of the company traded hands, compared to its average volume of 341,875. Silk Road Medical, Inc has a twelve month low of $27.21 and a twelve month high of $67.49. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of -25.62 and a beta of 1.48. The company has a quick ratio of 6.09, a current ratio of 6.92 and a debt-to-equity ratio of 1.23. The business has a 50 day simple moving average of $40.84 and a 200-day simple moving average of $37.47.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SILK shares. Stifel Nicolaus lowered their price objective on shares of Silk Road Medical from $55.00 to $46.00 in a research report on Monday, July 18th. Citigroup cut shares of Silk Road Medical from a “neutral” rating to a “sell” rating and set a $33.00 price target on the stock. in a report on Monday, July 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Silk Road Medical currently has an average rating of “Hold” and a consensus price target of $49.33.

Silk Road Medical Company Profile

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Silk Road Medical, Inc operates as a medical device company in the United States. The company offers various products for the treatment of carotid artery disease called transcarotid artery revascularization. Its products include ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and initiate temporary blood flow reversal; ENROUTE Transcarotid Stent System, a self-expanding, self-tapering stent; ENHANCE Transcarotid Peripheral Access Kit for use in gaining initial access to the common carotid artery; and ENROUTE 0.014 Guidewire for navigating and crossing the target lesion for delivery of interventional devices.

Further Reading

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Institutional Ownership by Quarter for Silk Road Medical (NASDAQ:SILK)

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