Joseph Gates Clark Sells 1,485 Shares of Penguin Solutions (NASDAQ:PENG) Stock

Penguin Solutions, Inc. (NASDAQ:PENG) SVP Joseph Gates Clark sold 1,485 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $27.62, for a total transaction of $41,015.70. Following the completion of the sale, the senior vice president owned 91,776 shares in the company, valued at $2,534,853.12. This represents a 1.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 transaction of $148,750.00.
• 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 stock was sold at an average price of $22.55, for a total transaction of $282,912.30.
• On Tuesday, February 10th, Joseph Gates Clark sold 1,346 shares of Penguin Solutions stock. The stock was sold at an average price of $19.03, for a total transaction of $25,614.38.

Penguin Solutions Price Performance

NASDAQ:PENG traded down $1.64 during mid-day trading on Monday, reaching $29.05. 1,963,443 shares of the company were exchanged, compared to its average volume of 1,360,530. Penguin Solutions, Inc. has a 12 month low of $16.04 and a 12 month high of $31.30. The company has a fifty day moving average of $20.68 and a 200 day moving average of $20.49. 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 cap of $1.47 billion, a PE ratio of 40.35 and a beta of 2.23.

Penguin Solutions (NASDAQ:PENG) last issued its quarterly earnings data 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 firm had revenue of $343.00 million for the quarter, compared to analyst estimates of $339.00 million. On average, research analysts anticipate that Penguin Solutions, Inc. will post 1.66 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Penguin Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. The Goldman Sachs Group initiated coverage on Penguin Solutions in a research report on Tuesday, January 13th. They issued a “buy” rating and a $25.00 price objective for the company. Zacks Research raised Penguin Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. 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, Rosenblatt Securities reiterated a “buy” rating and set a $30.00 price target on shares of Penguin Solutions in a research report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Penguin Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $27.25.

Institutional Investors Weigh In On Penguin Solutions

Several institutional investors have recently modified their holdings of PENG. Dimensional Fund Advisors LP acquired a new stake in shares of Penguin Solutions during the 3rd quarter worth approximately $60,264,000. Invesco Ltd. grew its position in shares of Penguin Solutions by 596.8% during the 4th quarter. Invesco Ltd. now owns 1,992,415 shares of the company’s stock worth $38,972,000 after buying an additional 1,706,482 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of Penguin Solutions during the 4th quarter worth approximately $18,290,000. Ophir Asset Management Pty Ltd grew its position in shares of Penguin Solutions by 234.3% during the 4th quarter. Ophir Asset Management Pty Ltd now owns 1,211,612 shares of the company’s stock worth $23,699,000 after buying an additional 849,178 shares during the period. Finally, ArrowMark Colorado Holdings LLC acquired a new position in shares of Penguin Solutions during the 3rd quarter worth about $15,789,000.

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.