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 the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $54.45, for a total transaction of $217,800.00. Following the completion of the sale, the senior vice president directly owned 124,794 shares of the company’s stock, valued at approximately $6,795,033.30. This trade represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 stock was 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 stock was sold at an average price of $17.75, for a total transaction of $71,000.00.

Penguin Solutions Stock Down 0.7%

Penguin Solutions stock traded down $0.37 during midday trading on Thursday, hitting $54.07. 1,699,785 shares of the company’s stock were exchanged, compared to its average volume of 1,832,123. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.55 and a current ratio of 2.10. Penguin Solutions, Inc. has a 12 month low of $16.04 and a 12 month high of $55.65. The firm has a 50-day moving average of $30.87 and a two-hundred day moving average of $23.63. The company has a market cap of $2.74 billion, a PE ratio of 75.10 and a beta of 2.66.

Penguin Solutions (NASDAQ:PENG) last issued its earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $339.00 million. As a group, analysts expect that Penguin Solutions, Inc. will post 1.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PENG has been the topic of several recent research reports. Zacks Research upgraded shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. Rosenblatt Securities reissued a “buy” rating and set a $30.00 price target on shares of Penguin Solutions in a research report on Monday, March 30th. Weiss Ratings lowered shares of Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Barclays lowered shares of Penguin Solutions from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $23.00 to $27.00 in a research report on Wednesday, April 22nd. Finally, Needham & Company LLC increased their price target on shares of Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.25.

Hedge Funds Weigh In On Penguin Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System raised its position in shares of Penguin Solutions by 52.8% in the 1st quarter. California State Teachers Retirement System now owns 74,580 shares of the company’s stock valued at $1,313,000 after purchasing an additional 25,763 shares during the last quarter. Maverick Capital Ltd. purchased a new position in shares of Penguin Solutions in the 1st quarter valued at approximately $771,000. Quantinno Capital Management LP raised its position in shares of Penguin Solutions by 16.6% in the 1st quarter. Quantinno Capital Management LP now owns 28,318 shares of the company’s stock valued at $498,000 after purchasing an additional 4,036 shares during the last quarter. Paradigm Capital Management Inc. NY raised its position in shares of Penguin Solutions by 73.8% in the 1st quarter. Paradigm Capital Management Inc. NY now owns 1,605,100 shares of the company’s stock valued at $28,250,000 after purchasing an additional 681,700 shares during the last quarter. Finally, Inceptionr LLC purchased a new position in shares of Penguin Solutions in the 1st quarter valued at approximately $339,000.

Penguin Solutions Company Profile

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.