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

Wednesday, November 22, 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 revealed in form 4 documents filed with the SEC today. Four insiders — Dr Bose, Elsesser, Kosaraju, and Pray — sold 50,608 shares in the company having a market value of approximately $5,412,577. There have been 7 insiders with buy/sell transactions in the past 90 days prior to these filings. All of these trades have been sales resulting in the sale of 210,024 company shares. Adding the most recent activity to this 90-day history indicates insider trades have seen net sales of 260,632 shares and have averaged 23,694 shares per transaction over this time period.

The number of insider buy/sell trades at Penumbra is greater than that of the 8 peer company average over the last 90-day period. The Medical Equipment peer group saw 33 buy/sell trades during this period for an average of 4.1 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 5,109,311 shares sold with company insiders disposing of 138,540 shares on average over this time period.

The data obtained in composing and writing in this story eliminates 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.

Today’s Insider Activity
* Dr Arani Bose, Director and Officer, sold 13,865 shares
* Adam Elsesser, Director and Officer, sold 12,559 shares
* Sridhar Kosaraju, Officer, sold 6,300 shares
* James Robert Pray, Officer, sold 17,884 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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