Penguin Solutions (NASDAQ:PENG) SVP Joseph Gates Clark Sells 12,546 Shares

Penguin Solutions, Inc. (NASDAQ:PENG) SVP Joseph Gates Clark sold 12,546 shares of the company’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $22.55, for a total transaction of $282,912.30. Following the completion of the transaction, the senior vice president owned 99,726 shares of the company’s stock, valued at approximately $2,248,821.30. The trade was a 11.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 Tuesday, February 10th, Joseph Gates Clark sold 1,346 shares of Penguin Solutions stock. The shares were sold at an average price of $19.03, for a total transaction of $25,614.38.

Penguin Solutions Trading Up 0.7%

Shares of Penguin Solutions stock opened at $23.02 on Friday. The company has a fifty day simple moving average of $18.99 and a 200-day simple moving average of $20.55. Penguin Solutions, Inc. has a 12-month low of $15.40 and a 12-month high of $29.80. 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 cap of $1.17 billion, a price-to-earnings ratio of 31.97 and a beta of 2.23.

Penguin Solutions (NASDAQ:PENG) last issued its earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.09. Penguin Solutions had a net margin of 4.07% and a return on equity of 19.94%. The business had revenue of $343.00 million during the quarter, compared to analysts’ expectations of $339.00 million. On average, equities analysts forecast that Penguin Solutions, Inc. will post 1.05 EPS for the current fiscal year.

Institutional Trading of Penguin Solutions

Hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake 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 acquired a new stake in shares of Penguin Solutions in the 4th quarter worth $29,000. Raymond James Financial Inc. acquired a new stake in shares of Penguin Solutions in the 2nd quarter worth $37,000. Strs Ohio acquired a new stake in shares of Penguin Solutions in the 3rd quarter worth $42,000. Finally, Jones Financial Companies Lllp lifted its stake 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 worth $45,000 after acquiring an additional 1,694 shares during the period.

Analysts Set New Price Targets

PENG has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Penguin Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Zacks Research upgraded shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. The Goldman Sachs Group initiated coverage on shares of Penguin Solutions in a research note on Tuesday, January 13th. They set a “buy” rating and a $25.00 price target for the company. Rosenblatt Securities reiterated a “buy” rating and set a $30.00 price target on shares of Penguin Solutions in a research note on Monday, March 30th. Finally, Stifel Nicolaus decreased their price target on shares of Penguin Solutions from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $27.29.

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.