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PEN (Penumbra Inc) may reap gains as insiders became active recently

In a filing, Penumbra Inc revealed its EVP, Gen. Counsel & Secretary Roberts Johanna unloaded Company’s shares for reported $0.11 million on Jun 03 ’24. In the deal valued at $188.90 per share,600 shares were sold. As a result of this transaction, Roberts Johanna now holds 62,888 shares worth roughly $11.88 million.

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Then, Elsesser Adam sold 15,000 shares, generating $3,014,734 in total proceeds. Upon selling the shares at $200.98, the CEO and President now owns 942,582 shares.

Before that, Roberts Johanna sold 600 shares. Penumbra Inc shares valued at $124,447 were divested by the EVP, Gen. Counsel & Secretary at a price of $207.41 per share. As a result of the transaction, Roberts Johanna now holds 63,488 shares, worth roughly $12.0 million.

JP Morgan downgraded its Penumbra Inc [PEN] rating to a Neutral from a an Overweight in a research note published on February 23, 2024; the price target was decreased to $250 from $284. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who began to cover the stock in early September with a ‘”an Equal-weight”‘ rating. Robert W. Baird began covering PEN with “an Outperform” recommendation on July 19, 2023. Needham revised its rating on March 29, 2023. It rated PEN as “a Hold” which previously was an “a Buy”.

Price Performance Review of PEN

On Friday, Penumbra Inc [NYSE:PEN] saw its stock fall -3.80% to $188.95. Over the last five days, the stock has lost -0.27%. Penumbra Inc shares have fallen nearly -24.88% since the year began. Nevertheless, the stocks have fallen -39.58% over the past one year. While a 52-week high of $348.67 was reached on 02/16/24, a 52-week low of $180.93 was recorded on 05/30/24. SMA at 50 days reached $205.22, while 200 days put it at $230.70. A total of 0.58 million shares were traded, compared to the trading of 0.55 million shares in the previous session.

Levels Of Support And Resistance For PEN Stock

The 24-hour chart illustrates a support level at 185.68, which if violated will result in even more drops to 182.42. On the upside, there is a resistance level at 193.59. A further resistance level may holdings at 198.24. The Relative Strength Index (RSI) on the 14-day chart is 38.94, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.27, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 79.84%. Stochastics %K at 40.36% indicates the stock is a holding.

The most recent change occurred on January 30, 2023 when Piper Sandler began covering the stock and recommended ‘”an Overweight”‘ rating along with a $275 price target.

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