Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Penumbra Inc shares valued at $3,068,367 were sold by Elsesser Adam on Oct 21 ’24. At $204.56 per share, Elsesser Adam sold 15,000 shares. The insider’s holdings dropped to 867,582 shares worth approximately $198.56 million following the completion of this transaction.
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Also, Grewal Harpreet sold 166 shares, netting a total of over 31,678 in proceeds. Following the sale of shares at $190.83 each, the insider now holds 8,697 shares.
Before that, Roberts Johanna had sold 600 shares from its account. In a trade valued at $114,456, the EVP, Gen. Counsel & Secretary traded Penumbra Inc shares for $190.76 each. Upon closing the transaction, the insider’s holdings decreased to 600 shares, worth approximately $13.84 million.
As published in their initiating research note from Stifel on September 18, 2024, Penumbra Inc [PEN] has been a Buy and the price target has been revised to $238. Analysts at Leerink Partners started covering the stock with ‘”an Outperform”‘ outlook in a report released in early September. As of July 31, 2024, Wells Fargo has decreased its “an Overweight” rating to a “an Equal weight” for PEN. Earlier on July 31, 2024, Citigroup downgraded its rating. Their new recommendation was “a Neutral” for PEN stock which previously was a “a Buy”.
Analyzing PEN Stock Performance
During the last five days, there has been a surge of approximately 10.81%. Over the course of the year, Penumbra Inc shares have dropped approximately -9.01%. Shares of the company reached a 52-week high of $277.34 on 02/16/24 and a 52-week low of $148.00 on 07/31/24. A 50-day SMA is recorded $200.24, while a 200-day SMA reached $208.53. Nevertheless, trading volume fell to 0.92 million shares from 0.73 million shares the previous day.
Support And Resistance Levels for Penumbra Inc (PEN)
According to the 24-hour chart, there is a support level at 214.05, which, if violated, would cause prices to drop to 199.23. In the upper region, resistance lies at 237.22. The next price resistance is at 245.57. RSI (Relative Strength Index) is 72.38 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 8.02, which suggests the price will increase in the coming days. Percent R is at 5.86%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
