Penguin Solutions (NASDAQ:PENG) SVP Sells $20,604.96 in Stock

Penguin Solutions, Inc. (NASDAQ:PENG) SVP Anne Kuykendall sold 738 shares of the business’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $27.92, for a total value of $20,604.96. Following the transaction, the senior vice president directly owned 128,794 shares of the company’s stock, valued at $3,595,928.48. This represents a 0.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, March 16th, Anne Kuykendall sold 4,000 shares of Penguin Solutions stock. The shares were sold at an average price of $17.75, for a total value of $71,000.00.

Penguin Solutions Stock Performance

Penguin Solutions stock traded down $0.34 during trading hours on Wednesday, hitting $27.58. The stock had a trading volume of 1,147,615 shares, compared to its average volume of 1,517,621. Penguin Solutions, Inc. has a fifty-two week low of $16.04 and a fifty-two week high of $29.80. The company has a market cap of $1.40 billion, a PE ratio of 20.53 and a beta of 2.23. The company has a 50-day moving average of $20.28 and a two-hundred day moving average of $20.49. The company has a quick ratio of 1.55, a current ratio of 2.10 and a debt-to-equity ratio of 1.09.

Penguin Solutions (NASDAQ:PENG) last released its quarterly earnings data on Wednesday, April 1st. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.09. Penguin Solutions had a return on equity of 19.94% and a net margin of 4.07%.The company had revenue of $343.00 million for the quarter, compared to analyst estimates of $339.00 million. On average, equities research analysts anticipate that Penguin Solutions, Inc. will post 1.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Penguin Solutions

Large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its position in Penguin Solutions by 187.0% during the 4th 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 bought a new stake in Penguin Solutions during the 4th quarter worth approximately $29,000. Strs Ohio acquired a new position in Penguin Solutions during the 3rd quarter worth $42,000. Jones Financial Companies Lllp lifted its holdings in Penguin Solutions by 4,131.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,735 shares of the company’s stock worth $45,000 after buying an additional 1,694 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in Penguin Solutions by 41.4% during the 3rd quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock worth $47,000 after buying an additional 525 shares in the last quarter.

Wall Street Analysts Forecast Growth

PENG has been the topic of several analyst reports. The Goldman Sachs Group initiated coverage on Penguin Solutions in a research note on Tuesday, January 13th. They issued a “buy” rating and a $25.00 price objective on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $30.00 price objective on shares of Penguin Solutions in a research note on Monday, March 30th. Needham & Company LLC upped their price objective on Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Zacks Research upgraded Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. Finally, Barclays lowered Penguin Solutions from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $23.00 to $27.00 in a research note on Wednesday. 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.com, Penguin Solutions currently has a consensus rating of “Moderate Buy” and an average target price of $27.25.

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.