Insider Selling: Penguin Solutions (NASDAQ:PENG) SVP Sells $217,800.00 in Stock

Penguin Solutions, Inc. (NASDAQ:PENG) SVP Anne Kuykendall sold 4,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $54.45, for a total transaction of $217,800.00. Following the completion of the sale, the senior vice president owned 124,794 shares in the company, valued at approximately $6,795,033.30. This trade represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, April 22nd, Anne Kuykendall sold 738 shares of Penguin Solutions stock. The stock was sold at an average price of $27.92, for a total transaction of $20,604.96.
• On Monday, March 16th, Anne Kuykendall sold 4,000 shares of Penguin Solutions stock. The stock was sold at an average price of $17.75, for a total transaction of $71,000.00.

Penguin Solutions Price Performance

Shares of Penguin Solutions stock opened at $55.83 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.55 and a debt-to-equity ratio of 1.09. The company’s 50-day moving average price is $32.37 and its two-hundred day moving average price is $24.08. Penguin Solutions, Inc. has a 52 week low of $16.04 and a 52 week high of $60.87. The stock has a market cap of $2.83 billion, a PE ratio of 77.54 and a beta of 2.66.

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

Hedge Funds Weigh In On Penguin Solutions

Several institutional investors and hedge funds have recently bought and sold shares of PENG. Dimensional Fund Advisors LP purchased a new position in Penguin Solutions during the 3rd quarter valued at about $60,264,000. Invesco Ltd. grew its stake in Penguin Solutions by 596.8% during the 4th quarter. Invesco Ltd. now owns 1,992,415 shares of the company’s stock valued at $38,972,000 after acquiring an additional 1,706,482 shares in the last quarter. William Blair Investment Management LLC purchased a new position in Penguin Solutions during the 4th quarter valued at about $18,290,000. Ophir Asset Management Pty Ltd grew its stake in 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 valued at $23,699,000 after acquiring an additional 849,178 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY grew its stake in Penguin Solutions by 73.8% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 1,605,100 shares of the company’s stock valued at $28,250,000 after acquiring an additional 681,700 shares in the last quarter.

Analyst Upgrades and Downgrades

PENG has been the topic of a number of analyst reports. Weiss Ratings cut Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. Wall Street Zen raised Penguin Solutions from a “hold” rating to a “buy” rating in a research note on Sunday, May 17th. Zacks Research raised Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. Stifel Nicolaus dropped their price target on Penguin Solutions from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Finally, Needham & Company LLC lifted their price target on Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Penguin Solutions has an average rating of “Moderate Buy” and a consensus price target 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.