Penguin Solutions (NASDAQ:PENG) SVP Joseph Gates Clark Sells 1,327 Shares

Penguin Solutions, Inc. (NASDAQ:PENG) SVP Joseph Gates Clark sold 1,327 shares of Penguin Solutions stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $57.47, for a total transaction of $76,262.69. Following the completion of the sale, the senior vice president directly owned 63,056 shares of the company’s stock, valued at approximately $3,623,828.32. The trade was a 2.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Joseph Gates Clark also recently made the following trade(s):

• On Monday, June 1st, Joseph Gates Clark sold 10,351 shares of Penguin Solutions stock. The stock was sold at an average price of $58.87, for a total transaction of $609,363.37.
• On Friday, May 8th, Joseph Gates Clark sold 5,000 shares of Penguin Solutions stock. The stock was sold at an average price of $39.99, for a total transaction of $199,950.00.

Penguin Solutions Price Performance

NASDAQ PENG opened at $48.13 on Wednesday. Penguin Solutions, Inc. has a fifty-two week low of $16.04 and a fifty-two week high of $89.86. The stock’s 50-day moving average is $63.14 and its two-hundred day moving average is $37.43. The firm has a market cap of $2.47 billion, a P/E ratio of 34.13 and a beta of 2.83. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.54 and a quick ratio of 1.10.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PENG shares. Wall Street Zen lowered shares of Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Barclays lowered shares of 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. Zacks Research raised shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Citigroup restated an “outperform” rating on shares of Penguin Solutions in a report on Wednesday, July 8th. Finally, Stifel Nicolaus raised their price target on Penguin Solutions from $66.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. One investment 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.33.

Hedge Funds Weigh In On Penguin Solutions

Several large investors have recently added to or reduced their stakes in PENG. Farther Finance Advisors LLC lifted its position 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 worth $28,000 after acquiring an additional 946 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of Penguin Solutions during the fourth quarter valued at approximately $29,000. Allworth Financial LP raised its stake in shares of Penguin Solutions by 41.4% in the third quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock valued at $47,000 after purchasing an additional 525 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Penguin Solutions in the second quarter valued at $37,000. Finally, Advisory Services Network LLC bought a new position in Penguin Solutions in the third quarter worth $50,000.

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.