Insider Selling: Paragon 28, Inc. (NYSE:FNA) Major Shareholder Sells $109,325.15 in Stock

Paragon 28, Inc. (NYSE:FNA) major shareholder Mvm Partners, Llc sold 10,835 shares of Paragon 28 stock in a transaction on Monday, November 25th. The stock was sold at an average price of $10.09, for a total transaction of $109,325.15. Following the sale, the insider now directly owns 10,548,230 shares of the company’s stock, valued at approximately $106,431,640.70. This trade represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Mvm Partners, Llc also recently made the following trade(s):

• On Friday, November 22nd, Mvm Partners, Llc sold 72,133 shares of Paragon 28 stock. The shares were sold at an average price of $10.16, for a total value of $732,871.28.
• On Wednesday, November 20th, Mvm Partners, Llc sold 147,581 shares of Paragon 28 stock. The stock was sold at an average price of $10.28, for a total value of $1,517,132.68.

Paragon 28 Price Performance

Shares of NYSE FNA opened at $9.99 on Friday. The business has a 50-day moving average price of $6.95 and a 200 day moving average price of $7.28. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.60. Paragon 28, Inc. has a 52-week low of $4.65 and a 52-week high of $14.79.

Paragon 28 (NYSE:FNA) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.01. The business had revenue of $62.30 million during the quarter, compared to the consensus estimate of $60.58 million. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. The company’s revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.10) earnings per share. Equities analysts predict that Paragon 28, Inc. will post -0.66 EPS for the current year.

Analyst Ratings Changes

FNA has been the subject of several recent analyst reports. Canaccord Genuity Group decreased their target price on Paragon 28 from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Piper Sandler reissued an “overweight” rating and set a $12.00 price objective (down previously from $15.00) on shares of Paragon 28 in a report on Friday, August 9th. Finally, Needham & Company LLC upped their target price on shares of Paragon 28 from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Paragon 28 presently has a consensus rating of “Buy” and an average price target of $15.60.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. First Light Asset Management LLC raised its holdings in shares of Paragon 28 by 115.0% in the second quarter. First Light Asset Management LLC now owns 8,174,832 shares of the company’s stock valued at $55,916,000 after buying an additional 4,371,864 shares during the last quarter. Millennium Management LLC raised its stake in Paragon 28 by 5,834.0% during the 2nd quarter. Millennium Management LLC now owns 725,489 shares of the company’s stock valued at $4,962,000 after acquiring an additional 713,263 shares during the last quarter. Peregrine Capital Management LLC purchased a new stake in Paragon 28 during the 2nd quarter valued at approximately $3,351,000. Janus Henderson Group PLC lifted its position in Paragon 28 by 29.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,199,819 shares of the company’s stock worth $14,818,000 after acquiring an additional 273,077 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in shares of Paragon 28 by 15.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,021,188 shares of the company’s stock valued at $6,986,000 after purchasing an additional 135,911 shares during the last quarter. 63.57% of the stock is owned by hedge funds and other institutional investors.

Paragon 28 Company Profile

Paragon 28, Inc develops, distributes, and sells foot and ankle surgical systems in the United States and internationally. It offers plating systems, including gorilla plating systems, such as lisfranc, lapidus, lateral column, calcaneus slide, and naviculocuneiform (NC) fusion plating systems; baby gorilla plate-specific screws, navicular fracture plates, and 5th metatarsal hook plates; and silverback plating systems.