Penguin Solutions (NASDAQ:PENG) Director Sells $581,345.37 in Stock

Penguin Solutions, Inc. (NASDAQ:PENG) Director Sandeep Nayyar sold 12,893 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $45.09, for a total transaction of $581,345.37. Following the completion of the sale, the director directly owned 32,524 shares of the company’s stock, valued at approximately $1,466,507.16. The trade was a 28.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Tuesday, May 12th, Sandeep Nayyar sold 7,107 shares of Penguin Solutions stock. The stock was sold at an average price of $43.48, for a total transaction of $309,012.36.

Penguin Solutions Trading Down 5.3%

PENG opened at $46.82 on Friday. Penguin Solutions, Inc. has a twelve month low of $16.04 and a twelve month high of $53.27. The company has a 50-day simple moving average of $25.71 and a 200 day simple moving average of $22.04. The company has a quick ratio of 1.55, a current ratio of 2.10 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 65.03 and a beta of 2.66.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings data on Wednesday, April 1st. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.09. Penguin Solutions had a net margin of 4.07% and a return on equity of 19.94%. The business had revenue of $343.00 million during the quarter, compared to analysts’ expectations of $339.00 million. Analysts predict that Penguin Solutions, Inc. will post 1.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PENG shares. Wall Street Zen cut shares of Penguin Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Needham & Company LLC upped their price objective 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. Zacks Research raised shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 7th. Rosenblatt Securities reissued a “buy” rating and set a $30.00 target price on shares of Penguin Solutions in a research note on Monday, March 30th. Finally, Stifel Nicolaus lowered their target price on Penguin Solutions from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. One investment 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $27.25.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Kennedy Capital Management LLC raised its stake in Penguin Solutions by 31.9% during the third quarter. Kennedy Capital Management LLC now owns 992,168 shares of the company’s stock worth $26,074,000 after acquiring an additional 240,159 shares in the last quarter. State of Alaska Department of Revenue raised its stake in 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 worth $930,000 after acquiring an additional 23,582 shares in the last quarter. Barclays PLC raised its stake in Penguin Solutions by 46.9% during the third quarter. Barclays PLC now owns 1,055,189 shares of the company’s stock worth $27,730,000 after acquiring an additional 336,644 shares in the last quarter. American Century Companies Inc. raised its stake in Penguin Solutions by 35.3% during the third quarter. American Century Companies Inc. now owns 1,294,279 shares of the company’s stock worth $34,014,000 after acquiring an additional 337,564 shares in the last quarter. Finally, LSV Asset Management raised its stake in Penguin Solutions by 337.6% during the third quarter. LSV Asset Management now owns 569,368 shares of the company’s stock worth $14,963,000 after acquiring an additional 439,268 shares in the last quarter.

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.