Joseph Gates Clark Sells 1,327 Shares of Penguin Solutions (NASDAQ:PENG) Stock

Penguin Solutions, Inc. (NASDAQ:PENG) SVP Joseph Gates Clark sold 1,327 shares of Penguin Solutions stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $57.47, for a total transaction of $76,262.69. Following the transaction, the senior vice president owned 63,056 shares of the company’s stock, valued at approximately $3,623,828.32. The trade was a 2.06% decrease in their position. The sale was disclosed in a legal 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 Monday, June 1st, Joseph Gates Clark sold 10,351 shares of Penguin Solutions stock. The shares were 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 stock was sold at an average price of $39.99, for a total transaction of $199,950.00.

Penguin Solutions Trading Down 9.2%

Shares of Penguin Solutions stock opened at $43.70 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.54 and a quick ratio of 1.10. Penguin Solutions, Inc. has a 1 year low of $16.04 and a 1 year high of $89.86. The company has a market capitalization of $2.24 billion, a P/E ratio of 30.99 and a beta of 2.83. The business has a 50 day moving average price of $63.06 and a 200 day moving average price of $37.60.

Penguin Solutions (NASDAQ:PENG) last announced its earnings results on Tuesday, July 7th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.21. The firm had revenue of $478.71 million for the quarter, compared to analysts’ expectations of $407.47 million. Penguin Solutions had a return on equity of 28.23% and a net margin of 6.44%.During the same quarter in the prior year, the firm earned $0.52 EPS. Sell-side analysts anticipate that Penguin Solutions, Inc. will post 2.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PENG shares. Citigroup reiterated an “outperform” rating on shares of Penguin Solutions in a research report on Wednesday, July 8th. Needham & Company LLC upped their target price on shares of Penguin Solutions from $60.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Citizens Jmp raised their price target on shares of Penguin Solutions from $65.00 to $85.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 8th. Stifel Nicolaus lifted their price target on shares of Penguin Solutions from $66.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Finally, Wall Street Zen lowered shares of Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research report on Sunday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its position in shares of Penguin Solutions by 187.0% in 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 acquired a new position in Penguin Solutions during the fourth quarter worth approximately $29,000. Allworth Financial LP increased its position in Penguin Solutions by 41.4% during the third 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 last quarter. Raymond James Financial Inc. purchased a new position in Penguin Solutions during the second quarter worth approximately $37,000. Finally, Advisory Services Network LLC purchased a new position in Penguin Solutions during the third quarter worth approximately $50,000.

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.