Penguin Solutions (NASDAQ:PENG) SVP Sells $257,520.00 in Stock

Penguin Solutions, Inc. (NASDAQ:PENG) SVP Anne Kuykendall sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $64.38, for a total value of $257,520.00. Following the sale, the senior vice president owned 120,794 shares in the company, valued at $7,776,717.72. The trade was a 3.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 Tuesday, May 26th, Anne Kuykendall sold 4,000 shares of Penguin Solutions stock. The stock was sold at an average price of $54.45, for a total value of $217,800.00.
• 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 value of $20,604.96.

Penguin Solutions Price Performance

Shares of PENG opened at $67.15 on Friday. Penguin Solutions, Inc. has a 52 week low of $16.04 and a 52 week high of $73.24. 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 firm has a market cap of $3.41 billion, a price-to-earnings ratio of 93.26 and a beta of 2.89. The stock has a 50 day moving average of $45.15 and a 200-day moving average of $28.53.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.09. The business had revenue of $343.00 million for the quarter, compared to analyst estimates of $339.00 million. Penguin Solutions had a return on equity of 19.94% and a net margin of 4.07%. As a group, analysts forecast that Penguin Solutions, Inc. will post 1.79 EPS for the current year.

Analyst Ratings Changes

PENG has been the subject of several research reports. Zacks Research lowered shares of Penguin Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Barclays lowered shares of Penguin Solutions from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $23.00 to $27.00 in a research note on Wednesday, April 22nd. Stifel Nicolaus raised their target price on shares of Penguin Solutions from $24.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Wall Street Zen upgraded Penguin Solutions from a “hold” rating to a “buy” rating in a research note on Sunday, May 17th. Finally, Needham & Company LLC lifted their target price on Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.88.

Institutional Investors Weigh In On Penguin Solutions

A number of hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its position in shares of Penguin Solutions by 187.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock worth $28,000 after acquiring an additional 946 shares during the last quarter. Kestra Advisory Services LLC bought a new position in Penguin Solutions in the 4th quarter worth about $29,000. Jones Financial Companies Lllp grew its position in Penguin Solutions by 4,131.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,735 shares of the company’s stock worth $45,000 after purchasing an additional 1,694 shares during the last quarter. Allworth Financial LP increased its stake in shares of Penguin Solutions by 41.4% in the third quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock valued at $47,000 after purchasing an additional 525 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Penguin Solutions in the second quarter valued at approximately $37,000.

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.