Penguin Solutions (NASDAQ:PENG) Director Sells $309,012.36 in Stock

Penguin Solutions, Inc. (NASDAQ:PENG) Director Sandeep Nayyar sold 7,107 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $43.48, for a total transaction of $309,012.36. Following the sale, the director owned 25,417 shares in the company, valued at $1,105,131.16. This trade represents a 21.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Sandeep Nayyar also recently made the following trade(s):

• On Monday, May 11th, Sandeep Nayyar sold 12,893 shares of Penguin Solutions stock. The stock was sold at an average price of $45.09, for a total transaction of $581,345.37.

Penguin Solutions Price Performance

Shares of PENG stock traded up $4.14 during midday trading on Wednesday, reaching $48.27. 9,070,584 shares of the company were exchanged, compared to its average volume of 1,687,478. Penguin Solutions, Inc. has a 12 month low of $16.04 and a 12 month high of $53.27. The company has a market cap of $2.45 billion, a P/E ratio of 67.04 and a beta of 2.66. The company’s 50 day moving average price is $23.98 and its two-hundred day moving average price is $21.49. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.55 and a current ratio of 2.10.

Penguin Solutions (NASDAQ:PENG) last released its quarterly earnings results on Wednesday, April 1st. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. Penguin Solutions had a net margin of 4.07% and a return on equity of 19.94%. The company had revenue of $343.00 million for the quarter, compared to the consensus estimate of $339.00 million. On average, sell-side analysts expect that Penguin Solutions, Inc. will post 1.66 earnings per share for the current year.

Institutional Investors Weigh In On Penguin Solutions

Large investors have recently made changes to their positions in the company. Kennedy Capital Management LLC raised its holdings in shares of Penguin Solutions by 31.9% during the third quarter. Kennedy Capital Management LLC now owns 992,168 shares of the company’s stock valued at $26,074,000 after acquiring an additional 240,159 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of Penguin Solutions by 98.3% during the fourth quarter. State of Alaska Department of Revenue now owns 47,576 shares of the company’s stock valued at $930,000 after acquiring an additional 23,582 shares during the period. Barclays PLC raised its holdings in shares of Penguin Solutions by 46.9% during the third quarter. Barclays PLC now owns 1,055,189 shares of the company’s stock valued at $27,730,000 after acquiring an additional 336,644 shares during the period. American Century Companies Inc. raised its holdings in shares of Penguin Solutions by 35.3% during the third quarter. American Century Companies Inc. now owns 1,294,279 shares of the company’s stock valued at $34,014,000 after acquiring an additional 337,564 shares during the period. Finally, LSV Asset Management raised its holdings in shares of Penguin Solutions by 337.6% during the third quarter. LSV Asset Management now owns 569,368 shares of the company’s stock valued at $14,963,000 after acquiring an additional 439,268 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have commented on PENG. Rosenblatt Securities restated a “buy” rating and set a $30.00 price target on shares of Penguin Solutions in a research report on Monday, March 30th. Zacks Research upgraded shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 7th. Stifel Nicolaus dropped their price target on shares of Penguin Solutions from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Weiss Ratings upgraded shares of Penguin Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, April 6th. Finally, Needham & Company LLC boosted their price target on shares of Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.25.

About Penguin Solutions

Penguin Solutions, Inc engages in the designing and development of enterprise solutions worldwide. It operates through three segments: Advanced Computing, Integrated Memory, and Optimized LED. It offers dynamic random access memory modules, solid-state and flash storage, and other advanced integrated memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services, including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services.