Penguin Solutions (NASDAQ:PENG) SVP Sells $199,950.00 in Stock

Penguin Solutions, Inc. (NASDAQ:PENG) SVP Joseph Gates Clark sold 5,000 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $39.99, for a total value of $199,950.00. Following the completion of the sale, the senior vice president owned 76,776 shares of the company’s stock, valued at approximately $3,070,272.24. This trade represents a 6.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 stock was 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 stock was sold at an average price of $22.55, for a total value of $282,912.30.

Penguin Solutions Trading Up 1.4%

Shares of PENG traded up $0.59 during trading hours on Tuesday, hitting $44.13. 4,868,933 shares of the stock traded hands, compared to its average volume of 1,602,229. The company has a current ratio of 2.10, a quick ratio of 1.55 and a debt-to-equity ratio of 1.09. Penguin Solutions, Inc. has a 1-year low of $16.04 and a 1-year high of $46.75. The firm has a market capitalization of $2.24 billion, a PE ratio of 61.29 and a beta of 2.66. The business has a fifty day moving average of $23.52 and a 200-day moving average of $21.33.

Penguin Solutions (NASDAQ:PENG) last announced its quarterly earnings data on Wednesday, April 1st. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. Penguin Solutions had a return on equity of 19.94% and a net margin of 4.07%.The firm had revenue of $343.00 million during the quarter, compared to analyst estimates of $339.00 million. Analysts expect that Penguin Solutions, Inc. will post 1.66 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada acquired a new stake in Penguin Solutions in the first quarter valued at $7,250,000. Amundi acquired a new stake in Penguin Solutions in the 1st quarter valued at about $373,000. AQR Capital Management LLC bought a new stake in Penguin Solutions in the first quarter valued at approximately $1,076,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Penguin Solutions in the first quarter valued at approximately $538,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Penguin Solutions during the 1st quarter worth approximately $3,259,000.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Penguin Solutions from a “buy” rating to a “hold” rating in a research report on Saturday. Rosenblatt Securities reiterated a “buy” rating and issued a $30.00 price objective on shares of Penguin Solutions in a research report on Monday, March 30th. Zacks Research upgraded shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. Needham & Company LLC raised their price objective on shares of Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Finally, The Goldman Sachs Group started coverage on shares of Penguin Solutions in a research note on Tuesday, January 13th. They issued a “buy” rating and a $25.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.