Anne Kuykendall Sells 4,000 Shares of Penguin Solutions (NASDAQ:PENG) Stock

Penguin Solutions, Inc. (NASDAQ:PENG) SVP Anne Kuykendall sold 4,000 shares of Penguin Solutions stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $54.45, for a total transaction of $217,800.00. Following the sale, the senior vice president owned 124,794 shares of the company’s stock, valued at $6,795,033.30. The trade was a 3.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 shares were 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 shares were sold at an average price of $17.75, for a total transaction of $71,000.00.

Penguin Solutions Trading Up 3.3%

Shares of PENG opened at $55.83 on Friday. Penguin Solutions, Inc. has a 1-year low of $16.04 and a 1-year high of $60.87. The company has a 50-day moving average of $32.37 and a 200 day moving average of $24.08. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 77.54 and a beta of 2.66. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.10 and a quick ratio of 1.55.

Penguin Solutions (NASDAQ:PENG) last announced its quarterly earnings data on Wednesday, April 1st. The company reported $0.52 earnings per share 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 analyst estimates of $339.00 million. On average, research analysts expect that Penguin Solutions, Inc. will post 1.66 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PENG. Farther Finance Advisors LLC grew its position in shares of Penguin Solutions by 187.0% in the 4th quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock worth $28,000 after buying an additional 946 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Penguin Solutions in the 4th quarter worth approximately $29,000. Raymond James Financial Inc. purchased a new position in shares of Penguin Solutions in the 2nd quarter worth approximately $37,000. Strs Ohio purchased a new position in shares of Penguin Solutions in the 3rd quarter worth approximately $42,000. Finally, Jones Financial Companies Lllp grew its position in shares of 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 buying an additional 1,694 shares during the last quarter.

Analyst Ratings Changes

PENG has been the subject of a number of research analyst reports. Stifel Nicolaus decreased their price objective on shares of Penguin Solutions from $27.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Rosenblatt Securities restated a “buy” rating and issued a $30.00 price target on shares of Penguin Solutions in a report on Monday, March 30th. Barclays lowered shares of Penguin Solutions from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $23.00 to $27.00 in a report on Wednesday, April 22nd. Weiss Ratings lowered shares of Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. Finally, Zacks Research upgraded shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.