Allspring Global Investments Holdings LLC Purchases 85,284 Shares of Penumbra, Inc. (NYSE:PEN)

Allspring Global Investments Holdings LLC boosted its holdings in Penumbra, Inc. (NYSE:PEN) by 39.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 299,397 shares of the company’s stock after purchasing an additional 85,284 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.78% of Penumbra worth $71,831,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Janus Henderson Group PLC lifted its position in Penumbra by 128.1% during the third quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock worth $129,967,000 after purchasing an additional 375,684 shares during the period. Thrivent Financial for Lutherans raised its holdings in Penumbra by 3,832.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock valued at $71,564,000 after buying an additional 358,932 shares during the last quarter. Champlain Investment Partners LLC raised its stake in shares of Penumbra by 20.6% during the third quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock valued at $300,786,000 after acquiring an additional 264,122 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Penumbra during the 3rd quarter worth about $31,965,000. Finally, Braidwell LP lifted its stake in shares of Penumbra by 70.0% in the third quarter. Braidwell LP now owns 361,428 shares of the company’s stock worth $70,229,000 after acquiring an additional 148,834 shares during the period. 88.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Harpreet Grewal sold 167 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total value of $40,293.76. Following the transaction, the director now owns 8,530 shares of the company’s stock, valued at approximately $2,058,118.40. This represents a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $242.96, for a total value of $3,644,400.00. Following the completion of the sale, the chief executive officer now directly owns 837,582 shares in the company, valued at approximately $203,498,922.72. The trade was a 1.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,819 shares of company stock valued at $8,129,483. Corporate insiders own 5.00% of the company’s stock.

Penumbra Trading Down 0.3 %

NYSE:PEN opened at $267.42 on Thursday. The company has a market cap of $10.26 billion, a P/E ratio of 310.95, a P/E/G ratio of 1.92 and a beta of 0.53. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $277.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. The stock’s fifty day moving average price is $253.46 and its two-hundred day moving average price is $222.57.

Wall Street Analysts Forecast Growth

PEN has been the topic of a number of research analyst reports. Wells Fargo & Company raised shares of Penumbra from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $190.00 to $275.00 in a research report on Wednesday, December 11th. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research note on Thursday, October 31st. Citigroup increased their price objective on Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Robert W. Baird raised their price target on shares of Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Piper Sandler boosted their price objective on Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $261.36.

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.