Penguin Solutions (NASDAQ:PENG) SVP Sells $199,950.00 in Stock

Penguin Solutions, Inc. (NASDAQ:PENG) SVP Joseph Gates Clark sold 5,000 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $39.99, for a total value of $199,950.00. Following the completion of the sale, the senior vice president owned 76,776 shares of the company’s stock, valued at approximately $3,070,272.24. This trade represents a 6.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Joseph Gates Clark also recently made the following trade(s):

• On Friday, April 24th, Joseph Gates Clark sold 5,000 shares of Penguin Solutions stock. The shares were sold at an average price of $29.75, for a total value of $148,750.00.
• On Thursday, April 23rd, Joseph Gates Clark sold 1,485 shares of Penguin Solutions stock. The shares were sold at an average price of $27.62, for a total value of $41,015.70.
• On Thursday, April 16th, Joseph Gates Clark sold 5,000 shares of Penguin Solutions stock. The shares were sold at an average price of $26.82, for a total value of $134,100.00.
• On Thursday, April 9th, Joseph Gates Clark sold 12,546 shares of Penguin Solutions stock. The shares were sold at an average price of $22.55, for a total value of $282,912.30.

Penguin Solutions Stock Performance

Shares of NASDAQ:PENG opened at $49.44 on Friday. Penguin Solutions, Inc. has a twelve month low of $16.04 and a twelve month high of $53.27. The firm has a market cap of $2.51 billion, a PE ratio of 68.67 and a beta of 2.66. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.55 and a current ratio of 2.10. The business has a fifty day moving average of $25.16 and a 200-day moving average of $21.87.

Penguin Solutions (NASDAQ:PENG) last announced its earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. Penguin Solutions had a return on equity of 19.94% and a net margin of 4.07%.The company had revenue of $343.00 million during the quarter, compared to analyst estimates of $339.00 million. On average, equities research analysts predict that Penguin Solutions, Inc. will post 1.66 EPS for the current fiscal year.

Institutional Trading of Penguin Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP increased its position in Penguin Solutions by 41.4% in the third quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock worth $47,000 after purchasing an additional 525 shares during the period. Osaic Holdings Inc. increased its position in Penguin Solutions by 20.8% in the second quarter. Osaic Holdings Inc. now owns 3,583 shares of the company’s stock worth $71,000 after purchasing an additional 617 shares during the period. Covestor Ltd boosted its holdings in Penguin Solutions by 4.7% during the fourth quarter. Covestor Ltd now owns 15,535 shares of the company’s stock worth $304,000 after buying an additional 695 shares during the last quarter. M&T Bank Corp boosted its holdings in Penguin Solutions by 7.0% during the fourth quarter. M&T Bank Corp now owns 10,851 shares of the company’s stock worth $212,000 after buying an additional 706 shares during the last quarter. Finally, Optimize Financial Inc boosted its holdings in Penguin Solutions by 1.5% during the fourth quarter. Optimize Financial Inc now owns 56,354 shares of the company’s stock worth $1,102,000 after buying an additional 808 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PENG shares. Wall Street Zen lowered Penguin Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings lowered Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday. Rosenblatt Securities reiterated a “buy” rating and issued a $30.00 price objective on shares of Penguin Solutions in a research report on Monday, March 30th. Barclays lowered Penguin Solutions from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $23.00 to $27.00 in a research report on Wednesday, April 22nd. Finally, Stifel Nicolaus lowered their price objective on Penguin Solutions from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $27.25.

Penguin Solutions Company Profile

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.