Insider Selling: Penguin Solutions (NASDAQ:PENG) SVP Sells $44,770.88 in Stock

Penguin Solutions, Inc. (NASDAQ:PENG) SVP Joseph Clark sold 869 shares of the company’s stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $51.52, for a total transaction of $44,770.88. Following the completion of the transaction, the senior vice president owned 85,853 shares in the company, valued at $4,423,146.56. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Penguin Solutions Trading Up 2.8%

Shares of NASDAQ:PENG traded up $1.51 during trading on Monday, reaching $54.92. 2,994,443 shares of the company were exchanged, compared to its average volume of 5,257,808. The business’s fifty day simple moving average is $56.10 and its 200-day simple moving average is $43.11. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.88 and a quick ratio of 1.25. Penguin Solutions, Inc. has a 12-month low of $16.04 and a 12-month high of $89.86. The firm has a market capitalization of $3.31 billion, a PE ratio of 22.25, a P/E/G ratio of 0.63 and a beta of 2.86.

Penguin Solutions (NASDAQ:PENG) last announced its quarterly earnings data on Tuesday, October 6th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.23. The company had revenue of $566.68 million for the quarter, compared to analysts’ expectations of $520.99 million. Penguin Solutions had a return on equity of 36.71% and a net margin of 10.43%. During the same quarter in the prior year, the firm earned $0.11 earnings per share. Penguin Solutions has set its FY 2027 guidance at 3.750-5.15 EPS. On average, research analysts anticipate that Penguin Solutions, Inc. will post 4.05 EPS for the current year.

Analyst Ratings Changes

PENG has been the topic of several research reports. Rosenblatt Securities raised their price target on Penguin Solutions from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 7th. Citigroup reiterated an “outperform” rating on shares of Penguin Solutions in a report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft set a $100.00 target price on shares of Penguin Solutions in a research report on Friday, October 9th. Bank of America initiated coverage on shares of Penguin Solutions in a research report on Friday, October 9th. They issued a “buy” rating and a $100.00 price target for the company. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $85.00 price target on shares of Penguin Solutions in a research report on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.50.

Institutional Investors Weigh In On Penguin Solutions

A number of hedge funds have recently made changes to their positions in PENG. BlackRock Inc. bought a new stake in Penguin Solutions during the second quarter valued at about $581,658,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Penguin Solutions in the second quarter valued at about $150,192,000. Paradigm Capital Management Inc. NY purchased a new position in Penguin Solutions in the second quarter valued at about $52,135,000. William Blair Investment Management LLC bought a new position in Penguin Solutions in the second quarter worth about $34,207,000. Finally, Bank of New York Mellon Corp bought a new position in Penguin Solutions in the second quarter worth about $22,503,000.

Penguin Solutions Company Profile

Penguin Solutions, Inc provides technology products and services for data center, cloud, artificial intelligence, high-performance computing, edge computing and embedded applications. The company designs and delivers memory products, computing platforms and integrated infrastructure intended to help organizations manage demanding workloads and deploy specialized technology environments.

Its offerings include memory modules and other memory-related products, high-performance computing systems, servers, storage and networking solutions, and software and services for infrastructure management.