Joseph Gates Clark Sells 5,000 Shares of Penguin Solutions (NASDAQ:PENG) Stock

Penguin Solutions, Inc. (NASDAQ:PENG) SVP Joseph Gates Clark sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $39.99, for a total value of $199,950.00. Following the transaction, the senior vice president directly owned 76,776 shares in the company, valued at approximately $3,070,272.24. This trade represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 value of $148,750.00.
• On Thursday, April 23rd, Joseph Gates Clark sold 1,485 shares of Penguin Solutions stock. The stock was sold at an average price of $27.62, for a total value of $41,015.70.
• On Thursday, April 16th, Joseph Gates Clark sold 5,000 shares of Penguin Solutions stock. The stock was sold at an average price of $26.82, for a total value 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 Stock Up 9.4%

PENG stock opened at $48.27 on Thursday. The stock’s 50 day simple moving average is $24.55 and its 200 day simple moving average is $21.68. Penguin Solutions, Inc. has a fifty-two week low of $16.04 and a fifty-two week high of $53.27. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.55 and a current ratio of 2.10. The company has a market cap of $2.45 billion, a P/E ratio of 67.04 and a beta of 2.66.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share 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 business had revenue of $343.00 million for the quarter, compared to the consensus estimate of $339.00 million. On average, research analysts expect that Penguin Solutions, Inc. will post 1.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Zacks Research raised Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. Needham & Company LLC upped their price target on Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Stifel Nicolaus decreased their price objective on Penguin Solutions from $27.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Rosenblatt Securities reissued a “buy” rating and set a $30.00 price objective on shares of Penguin Solutions in a report on Monday, March 30th. Finally, Weiss Ratings raised Penguin Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.25.

Hedge Funds Weigh In On Penguin Solutions

Several institutional investors have recently modified their holdings of PENG. Royal Bank of Canada bought a new position in shares of Penguin Solutions in the first quarter valued at approximately $7,250,000. Amundi bought a new position in shares of Penguin Solutions in the first quarter valued at approximately $373,000. AQR Capital Management LLC bought a new position in shares of Penguin Solutions in the first quarter valued at approximately $1,076,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Penguin Solutions in the first quarter valued at approximately $538,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Penguin Solutions in the first quarter valued at approximately $3,259,000.

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.