Penguin Solutions (NASDAQ:PENG) SVP Joseph Gates Clark Sells 5,000 Shares

Penguin Solutions, Inc. (NASDAQ:PENG) SVP Joseph Gates Clark sold 5,000 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $39.99, for a total transaction of $199,950.00. Following the completion of the sale, the senior vice president directly owned 76,776 shares of the company’s stock, valued at $3,070,272.24. This trade represents a 6.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 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 transaction 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 transaction 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 transaction of $282,912.30.

Penguin Solutions Price Performance

Shares of Penguin Solutions stock opened at $44.13 on Wednesday. Penguin Solutions, Inc. has a 52-week low of $16.04 and a 52-week high of $46.75. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 61.29 and a beta of 2.66. The company has a fifty day moving average of $23.98 and a 200-day moving average of $21.49. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.55 and a current ratio of 2.10.

Penguin Solutions (NASDAQ:PENG) last announced its quarterly earnings data on Wednesday, April 1st. The company reported $0.52 earnings per share (EPS) for the quarter, beating 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 company had revenue of $343.00 million during the quarter, compared to analysts’ expectations of $339.00 million. Equities research analysts expect that Penguin Solutions, Inc. will post 1.66 EPS for the current year.

Institutional Investors Weigh In On Penguin Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Penguin Solutions by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 6,592,564 shares of the company’s stock valued at $173,253,000 after buying an additional 25,804 shares during the last quarter. State Street Corp raised its holdings in Penguin Solutions by 3.2% during the 4th quarter. State Street Corp now owns 2,957,938 shares of the company’s stock valued at $57,857,000 after buying an additional 91,805 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Penguin Solutions by 4.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,388,748 shares of the company’s stock valued at $46,726,000 after buying an additional 95,585 shares during the last quarter. Invesco Ltd. raised its holdings in Penguin Solutions by 596.8% in the 4th quarter. Invesco Ltd. now owns 1,992,415 shares of the company’s stock worth $38,972,000 after purchasing an additional 1,706,482 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Penguin Solutions by 35.3% in the 3rd quarter. American Century Companies Inc. now owns 1,294,279 shares of the company’s stock worth $34,014,000 after purchasing an additional 337,564 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PENG shares. Wall Street Zen cut shares of Penguin Solutions from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Research upgraded shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. Barclays lowered shares of Penguin Solutions from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $23.00 to $27.00 in a report on Wednesday, April 22nd. Weiss Ratings upgraded shares of Penguin Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a 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 report on Monday, March 30th. One 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 stock. According to MarketBeat.com, the stock 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.