Penguin Solutions (NASDAQ:PENG) SVP Anne Kuykendall Sells 4,000 Shares

Penguin Solutions, Inc. (NASDAQ:PENG) SVP Anne Kuykendall sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $50.58, for a total value of $202,320.00. Following the transaction, the senior vice president owned 112,994 shares in the company, valued at $5,715,236.52. The trade was a 3.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Anne Kuykendall also recently made the following trade(s):

• On Monday, June 15th, Anne Kuykendall sold 4,000 shares of Penguin Solutions stock. The stock was sold at an average price of $64.38, for a total transaction of $257,520.00.

Penguin Solutions Stock Performance

Shares of PENG opened at $51.86 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.54 and a debt-to-equity ratio of 0.65. Penguin Solutions, Inc. has a 52-week low of $16.04 and a 52-week high of $89.86. The company has a 50-day simple moving average of $61.21 and a 200-day simple moving average of $42.67. The company has a market capitalization of $2.66 billion, a PE ratio of 36.78 and a beta of 2.87.

Penguin Solutions (NASDAQ:PENG) last posted its earnings results on Tuesday, July 7th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.21. Penguin Solutions had a return on equity of 28.23% and a net margin of 6.44%.The company had revenue of $478.71 million for the quarter, compared to the consensus estimate of $407.47 million. During the same period in the previous year, the business earned $0.52 earnings per share. Equities research analysts predict that Penguin Solutions, Inc. will post 2.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Penguin Solutions

Institutional investors and hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC purchased a new stake in shares of Penguin Solutions during the second quarter valued at approximately $26,000. Allworth Financial LP purchased a new position in shares of Penguin Solutions during the 2nd quarter valued at approximately $37,000. Nykredit A S acquired a new position in Penguin Solutions during the 2nd quarter worth $42,000. Public Employees Retirement System of Ohio bought a new stake in Penguin Solutions in the second quarter valued at about $74,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Penguin Solutions in the 2nd quarter worth approximately $92,000.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Zacks Research upgraded Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Barclays cut Penguin Solutions from an “equal weight” rating to an “underweight” rating and set a $40.00 price target for the company. in a report on Monday, July 20th. Needham & Company LLC upped their price objective on shares of Penguin Solutions from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Citigroup reiterated an “outperform” rating on shares of Penguin Solutions in a report on Wednesday, July 8th. Finally, Wall Street Zen cut shares of Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Penguin Solutions currently has a consensus rating of “Moderate Buy” and an average target price of $63.33.

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.