Significant Insider Sales in Shares of Penumbra (PEN) Extends the Selling Trend of Last Quarter

Monday, November 20, 2017 10:15 PM ET

Significant Insider Sales in Shares of Penumbra (PEN) Extends the Selling Trend of Last Quarter

A substantial level of insider sales in Penumbra was disclosed in form 4 documents filed with the SEC today. Three insiders — Dr Arani Bose, Director and Officer, Adam Elsesser, Director and Officer, and Sridhar Kosaraju, Officer — disposed of 131,954 shares in the company having a market value of approximately $13,877,809. There have been 6 insiders with buy/sell transactions in the past 90 days prior to these filings. All of these trades have been sales resulting in the disposition of 82,141 company shares. Adding the most recent activity to this 90-day history indicates insider trades have seen net sales of 214,095 shares and have averaged 23,788 shares per transaction over this time period.

The number of insider buy/sell trades at Penumbra is higher than that of the 8 peer company average over the last 90-day period. The Medical Equipment peer group saw 31 buy/sell trades during this period for an average of 3.9 transactions per company. However, the number of shares traded per transaction by Penumbra insiders is lower than its peers. Within the peer group there were 537,500 shares purchased and 4,982,928 shares sold with company insiders selling 143,401 shares on average over this time period.

Significant insider buying and selling activity has been determined by eliminating all trading activity reported to the SEC that involves awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers in data sourced in composing and writing this story.

Today’s Insider Activity
* Dr Arani Bose, Director and Officer, sold 47,136 shares
* Adam Elsesser, Director and Officer, sold 62,862 shares
* Sridhar Kosaraju, Officer, sold 21,956 shares

Using proprietary Natural Language Generation (NLG) technology, UpTick evaluates corporate insider filings reported to the SEC and creates real-time news and analysis to report the most significant insider transactions based on transaction type, size and historical trends.

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