Penumbra, Inc. (PEN) Shares Sold by Nicholas Investment Partners LP
Nicholas Investment Partners LP cut its position in Penumbra, Inc. (NYSE:PEN) by 11.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,191 shares of the company’s stock after selling 5,243 shares during the period. Nicholas Investment Partners LP owned about 0.13% of Penumbra worth $2,690,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of PEN. First Mercantile Trust Co. acquired a new stake in Penumbra during the third quarter valued at approximately $327,000. Schwab Charles Investment Management Inc. increased its stake in Penumbra by 236.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 44,758 shares of the company’s stock valued at $2,664,000 after buying an additional 31,468 shares during the period. Legal & General Group Plc acquired a new stake in Penumbra during the second quarter valued at approximately $164,000. Metropolitan Life Insurance Co. NY increased its stake in Penumbra by 221.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 18,592 shares of the company’s stock valued at $1,106,000 after buying an additional 12,810 shares during the period. Finally, Wetherby Asset Management Inc. acquired a new stake in Penumbra during the second quarter valued at approximately $1,313,000. 57.64% of the stock is currently owned by institutional investors.
Penumbra, Inc. (NYSE:PEN) traded up 0.13% during midday trading on Friday, reaching $78.00. 31,728 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $71.46 and its 200-day moving average price is $69.81. Penumbra, Inc. has a one year low of $41.35 and a one year high of $79.49. The stock has a market cap of $2.47 billion, a PE ratio of 3120.00 and a beta of 0.15.
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Separately, Zacks Investment Research downgraded shares of Penumbra from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 24th.
In other news, CEO Adam Elsesser sold 21,400 shares of the firm’s stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $70.98, for a total transaction of $1,518,972.00. Following the completion of the transaction, the chief executive officer now directly owns 1,244,038 shares in the company, valued at $88,301,817.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James Robert Pray sold 4,099 shares of the firm’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $69.09, for a total value of $283,199.91. Following the transaction, the insider now owns 575,178 shares of the company’s stock, valued at $39,739,048.02. The disclosure for this sale can be found here. Insiders have sold 233,996 shares of company stock valued at $16,732,953 in the last three months. Insiders own 22.00% of the company’s stock.
Penumbra, Inc (Penumbra) is an interventional therapies company. The Company designs, develops, manufactures and markets medical devices. The Company has a portfolio of products that addresses medical conditions and significant clinical needs across two markets, neuro and peripheral vascular. The conditions that its products address include ischemic stroke, hemorrhagic stroke and various peripheral vascular conditions that can be treated through thrombectomy and embolization procedures.
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