Penguin Solutions (NASDAQ:PENG) SVP Sells $76,262.69 in Stock

Penguin Solutions, Inc. (NASDAQ:PENG) SVP Joseph Gates Clark sold 1,327 shares of the business’s stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $57.47, for a total value of $76,262.69. Following the transaction, the senior vice president directly owned 63,056 shares in the company, valued at $3,623,828.32. This trade represents a 2.06% decrease in their position. The transaction was disclosed in a legal 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 Monday, June 1st, Joseph Gates Clark sold 10,351 shares of Penguin Solutions stock. The stock was sold at an average price of $58.87, for a total transaction of $609,363.37.
• On Friday, May 8th, Joseph Gates Clark sold 5,000 shares of Penguin Solutions stock. The shares were sold at an average price of $39.99, for a total transaction of $199,950.00.

Penguin Solutions Trading Down 10.2%

Shares of PENG stock traded down $5.33 during trading on Tuesday, hitting $47.16. 1,912,556 shares of the stock traded hands, compared to its average volume of 2,496,511. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.54 and a quick ratio of 1.10. The firm has a market capitalization of $2.42 billion, a P/E ratio of 33.49 and a beta of 2.83. The firm’s fifty day moving average price is $63.11 and its 200-day moving average price is $37.22. Penguin Solutions, Inc. has a 52-week low of $16.04 and a 52-week high of $89.86.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings data on Tuesday, July 7th. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.21. Penguin Solutions had a net margin of 6.44% and a return on equity of 28.23%. The firm had revenue of $478.71 million during the quarter, compared to analysts’ expectations of $407.47 million. During the same quarter last year, the company posted $0.52 EPS. As a group, research analysts forecast that Penguin Solutions, Inc. will post 2.08 earnings per share for the current fiscal year.

Institutional Trading of Penguin Solutions

Hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its stake 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 purchasing an additional 946 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in Penguin Solutions during the fourth quarter worth about $29,000. Raymond James Financial Inc. purchased a new position in shares of Penguin Solutions during the 2nd quarter worth approximately $37,000. Allworth Financial LP grew its stake in shares of Penguin Solutions by 41.4% during the 3rd quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock worth $47,000 after purchasing an additional 525 shares during the period. Finally, Torren Management LLC purchased a new stake in shares of Penguin Solutions during the 4th quarter worth approximately $48,000.

Analysts Set New Price Targets

PENG has been the subject of several recent research reports. Needham & Company LLC lifted their price objective on Penguin Solutions from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Barclays cut shares of 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. Weiss Ratings raised Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 8th. Wall Street Zen lowered Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Finally, Zacks Research upgraded shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.