RiverPark Advisors LLC Has $113,000 Stock Holdings in Penumbra, Inc. (NYSE:PEN)

RiverPark Advisors LLC lifted its stake in shares of Penumbra, Inc. (NYSE:PEN) by 360.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 507 shares of the company’s stock after buying an additional 397 shares during the quarter. RiverPark Advisors LLC’s holdings in Penumbra were worth $113,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PEN. Envestnet Asset Management Inc. raised its stake in Penumbra by 35.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 14,221 shares of the company’s stock worth $3,440,000 after purchasing an additional 3,717 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in Penumbra in the 3rd quarter worth about $270,000. The Manufacturers Life Insurance Company raised its stake in Penumbra by 6.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 91,852 shares of the company’s stock worth $22,220,000 after purchasing an additional 5,593 shares in the last quarter. Braun Stacey Associates Inc. raised its stake in Penumbra by 6.6% in the 3rd quarter. Braun Stacey Associates Inc. now owns 58,840 shares of the company’s stock worth $14,234,000 after purchasing an additional 3,632 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its position in shares of Penumbra by 24.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 31,414 shares of the company’s stock valued at $7,598,000 after buying an additional 6,192 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Trading Down 0.7 %

PEN traded down $1.28 during trading on Tuesday, reaching $177.99. 276,994 shares of the company’s stock were exchanged, compared to its average volume of 342,670. Penumbra, Inc. has a one year low of $170.59 and a one year high of $332.52. The company has a current ratio of 6.12, a quick ratio of 3.51 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $6.90 billion, a PE ratio of 75.10, a price-to-earnings-growth ratio of 1.83 and a beta of 0.55. The firm has a fifty day moving average price of $190.97 and a two-hundred day moving average price of $222.27.

Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, May 7th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Penumbra had a return on equity of 7.83% and a net margin of 8.52%. The business had revenue of $278.70 million for the quarter, compared to the consensus estimate of $274.94 million. During the same period in the previous year, the firm earned $0.23 earnings per share. The company’s revenue was up 15.5% compared to the same quarter last year. As a group, equities research analysts forecast that Penumbra, Inc. will post 2.87 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.98, for a total value of $3,014,700.00. Following the sale, the chief executive officer now directly owns 942,582 shares of the company’s stock, valued at approximately $189,440,130.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.98, for a total transaction of $3,014,700.00. Following the transaction, the chief executive officer now owns 942,582 shares in the company, valued at approximately $189,440,130.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $179.20, for a total transaction of $107,520.00. Following the transaction, the executive vice president now owns 62,288 shares in the company, valued at approximately $11,162,009.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,970 shares of company stock valued at $3,390,604. 5.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PEN shares. Truist Financial dropped their target price on shares of Penumbra from $290.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Piper Sandler dropped their target price on shares of Penumbra from $290.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research report on Wednesday, May 8th. Finally, Canaccord Genuity Group dropped their target price on shares of Penumbra from $284.00 to $272.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $293.10.

Penumbra Profile

Penumbra, Inc, together with its subsidiaries, designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers peripheral products, including the Indigo System for power aspiration of thrombus in the body; Lightning Flash, a mechanical thrombectomy system; Lightning Bolt 7, an arterial thrombectomy system; and CAT RX.