Jump Financial LLC Invests $294,000 in Penumbra, Inc. $PEN

Key Points

• Jump Financial LLC has acquired 1,098 shares of Penumbra, Inc., valued at approximately $294,000, representing a new stake in the company during the 1st quarter.
• Insider activity included notable sales, with EVP Johanna Roberts selling 600 shares for $143,364 and Director Thomas Wilder selling 372 shares for $89,339.52.
• Equities analysts have varied outlooks on Penumbra, with Citigroup lowering its price target to $285, while Canaccord Genuity Group set a target of $350, maintaining a "buy" rating.

Jump Financial LLC bought a new stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,098 shares of the company's stock, valued at approximately $294,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Mercer Global Advisors Inc. ADV raised its stake in shares of Penumbra by 41.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,760 shares of the company's stock valued at $418,000 after purchasing an additional 519 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Penumbra by 59.3% during the fourth quarter. BNP Paribas Financial Markets now owns 6,523 shares of the company's stock valued at $1,549,000 after purchasing an additional 2,429 shares during the period. Bank of America Corp DE increased its holdings in Penumbra by 19.9% during the fourth quarter. Bank of America Corp DE now owns 346,528 shares of the company's stock worth $82,293,000 after buying an additional 57,421 shares during the last quarter. Captrust Financial Advisors bought a new stake in shares of Penumbra in the 4th quarter worth approximately $343,000. Finally, Brevan Howard Capital Management LP bought a new position in shares of Penumbra during the fourth quarter valued at $253,000. Institutional investors and hedge funds own 88.88% of the company's stock.

Insider Buying and Selling at Penumbra

In related news, CEO Adam Elsesser sold 16,150 shares of Penumbra stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $233.16, for a total transaction of $3,765,534.00. Following the transaction, the chief executive officer owned 146,258 shares in the company, valued at approximately $34,101,515.28. The trade was a 9.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Maggie Yuen sold 2,000 shares of Penumbra stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $250.00, for a total transaction of $500,000.00. Following the completion of the transaction, the chief financial officer directly owned 12,943 shares in the company, valued at $3,235,750. This represents a 13.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 128,073 shares of company stock worth $31,968,224 over the last three months. Company insiders own 5.00% of the company's stock.

Penumbra Price Performance

Shares of NYSE PEN traded up $3.19 during mid-day trading on Monday, reaching $284.65. 313,079 shares of the company traded hands, compared to its average volume of 494,114. The stock has a fifty day simple moving average of $249.33 and a 200-day simple moving average of $265.10. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04. The firm has a market cap of $11.10 billion, a PE ratio of 75.55, a price-to-earnings-growth ratio of 2.53 and a beta of 0.45. Penumbra, Inc. has a fifty-two week low of $184.80 and a fifty-two week high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. The company had revenue of $339.46 million during the quarter, compared to analyst estimates of $327.37 million. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The company's revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the business posted $0.64 earnings per share. Penumbra has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PEN shares. Robert W. Baird raised their price target on shares of Penumbra from $283.00 to $285.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. William Blair raised Penumbra to a "strong-buy" rating in a report on Friday, July 18th. Wall Street Zen upgraded Penumbra from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Wells Fargo & Company lowered their target price on Penumbra from $315.00 to $290.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Finally, Evercore ISI assumed coverage on Penumbra in a research report on Tuesday, September 2nd. They issued an "outperform" rating and a $300.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $302.93.

Penumbra Company 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.