Insider Selling: Penguin Solutions (NASDAQ:PENG) Director Sells $177,360.00 in Stock

Penguin Solutions, Inc. (NASDAQ:PENG) Director Maximiliane Straub sold 4,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $44.34, for a total value of $177,360.00. Following the completion of the sale, the director owned 54,975 shares of the company’s stock, valued at $2,437,591.50. This trade represents a 6.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Penguin Solutions Stock Down 5.3%

Shares of Penguin Solutions stock opened at $46.82 on Friday. Penguin Solutions, Inc. has a 1 year low of $16.04 and a 1 year high of $53.27. The business has a 50-day moving average of $25.71 and a two-hundred day moving average of $22.04. The company has a market capitalization of $2.38 billion, a P/E ratio of 65.03 and a beta of 2.66. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.10 and a quick ratio of 1.55.

Penguin Solutions (NASDAQ:PENG) last released its earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. The firm had revenue of $343.00 million during the quarter, compared to analysts’ expectations of $339.00 million. Penguin Solutions had a return on equity of 19.94% and a net margin of 4.07%. As a group, equities analysts predict that Penguin Solutions, Inc. will post 1.66 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PENG. Weiss Ratings cut Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday. Wall Street Zen cut Penguin Solutions from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research upgraded Penguin Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. Rosenblatt Securities reiterated a “buy” rating and set a $30.00 target price on shares of Penguin Solutions in a report on Monday, March 30th. Finally, Needham & Company LLC increased their target price on Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $27.25.

Hedge Funds Weigh In On Penguin Solutions

Hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC grew its holdings in shares of Penguin Solutions by 187.0% in 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 bought a new position in shares of Penguin Solutions in the 4th quarter valued at about $29,000. Strs Ohio bought a new position in shares of Penguin Solutions in the 3rd quarter valued at about $42,000. Jones Financial Companies Lllp grew its holdings in shares of Penguin Solutions by 4,131.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,735 shares of the company’s stock valued at $45,000 after acquiring an additional 1,694 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Penguin Solutions by 41.4% in the 3rd quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock valued at $47,000 after acquiring an additional 525 shares in the last quarter.

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.