Maximiliane Straub Sells 8,000 Shares of Penguin Solutions (NASDAQ:PENG) Stock

Penguin Solutions, Inc. (NASDAQ:PENG) Director Maximiliane Straub sold 8,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the sale, the director directly owned 58,975 shares of the company’s stock, valued at $2,653,875. This represents a 11.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Penguin Solutions Stock Up 2.4%

PENG opened at $49.44 on Friday. Penguin Solutions, Inc. has a 1-year low of $16.04 and a 1-year high of $53.27. The company has a current ratio of 2.10, a quick ratio of 1.55 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 68.67 and a beta of 2.66. The business has a 50 day moving average of $25.16 and a 200-day moving average of $21.87.

Penguin Solutions (NASDAQ:PENG) last issued its earnings results on Wednesday, April 1st. The company reported $0.52 EPS for the quarter, topping the consensus estimate 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, sell-side analysts anticipate that Penguin Solutions, Inc. will post 1.66 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently commented on PENG shares. Needham & Company LLC raised their target price on Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Wall Street Zen cut Penguin Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $30.00 target price on shares of Penguin Solutions in a research report on Monday, March 30th. Weiss Ratings cut Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday. Finally, Zacks Research raised Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 7th. One research 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PENG. Royal Bank of Canada bought a new position in shares of Penguin Solutions during the first quarter valued at $7,250,000. Amundi bought a new position in shares of Penguin Solutions during the first quarter valued at $373,000. AQR Capital Management LLC bought a new position in shares of Penguin Solutions during the first quarter valued at $1,076,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Penguin Solutions during the first quarter valued at $538,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Penguin Solutions during the first quarter valued at $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.