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 on Monday, August 24th. The stock was sold at an average price of $50.58, for a total transaction of $202,320.00. Following the completion of the transaction, the senior vice president directly owned 112,994 shares of the company’s stock, valued at approximately $5,715,236.52. This represents a 3.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Anne Kuykendall also recently made the following trade(s):

• On Monday, June 15th, Anne Kuykendall sold 4,000 shares of Penguin Solutions stock. The stock was sold at an average price of $64.38, for a total transaction of $257,520.00.

Penguin Solutions Trading Up 1.1%

Penguin Solutions stock opened at $52.45 on Friday. The firm’s 50-day moving average is $60.92 and its 200-day moving average is $42.91. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.10 and a current ratio of 1.54. Penguin Solutions, Inc. has a 1 year low of $16.04 and a 1 year high of $89.86. The company has a market cap of $2.69 billion, a P/E ratio of 37.20 and a beta of 2.87.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings results on Tuesday, July 7th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.63 by $0.21. Penguin Solutions had a net margin of 6.44% and a return on equity of 28.23%. The business had revenue of $478.71 million during the quarter, compared to analyst estimates of $407.47 million. During the same period in the previous year, the business posted $0.52 EPS. On average, equities analysts expect that Penguin Solutions, Inc. will post 2.08 earnings per share for the current year.

Institutional Investors Weigh In On Penguin Solutions

Hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC bought a new position in Penguin Solutions in the 2nd quarter worth approximately $26,000. Farther Finance Advisors LLC raised its stake in Penguin Solutions by 187.0% during the 4th quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock valued at $28,000 after acquiring an additional 946 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in Penguin Solutions during the 4th quarter worth $29,000. Allworth Financial LP acquired a new position in Penguin Solutions during the 2nd quarter worth $37,000. Finally, Raymond James Financial Inc. bought a new position in shares of Penguin Solutions in the second quarter worth $37,000.

Analyst Ratings Changes

PENG has been the subject of several recent research reports. Needham & Company LLC upped their target price on Penguin Solutions from $60.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Wall Street Zen lowered Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 26th. Citizens Jmp upped their price objective on Penguin Solutions from $65.00 to $85.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 8th. Zacks Research raised Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Finally, Barclays cut Penguin Solutions from an “equal weight” rating to an “underweight” rating and set a $40.00 target price on the stock. in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $63.33.

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.