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 firm’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $26.82, for a total value of $134,100.00. Following the completion of the transaction, the senior vice president owned 95,549 shares of the company’s stock, valued at approximately $2,562,624.18. The trade was a 4.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• 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.
• On Tuesday, February 10th, Joseph Gates Clark sold 1,346 shares of Penguin Solutions stock. The stock was sold at an average price of $19.03, for a total value of $25,614.38.

Penguin Solutions Trading Down 0.6%

Shares of NASDAQ:PENG opened at $27.92 on Wednesday. Penguin Solutions, Inc. has a 52-week low of $15.66 and a 52-week high of $29.80. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 38.78 and a beta of 2.23. The company has a quick ratio of 1.55, a current ratio of 2.10 and a debt-to-equity ratio of 1.09. The business has a 50-day moving average price of $20.10 and a 200-day moving average price of $20.44.

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

Institutional Trading of Penguin Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Penguin Solutions by 0.4% during the third quarter. Vanguard Group Inc. now owns 6,592,564 shares of the company’s stock worth $173,253,000 after acquiring an additional 25,804 shares during the period. State Street Corp grew its holdings in Penguin Solutions by 3.2% in the fourth quarter. State Street Corp now owns 2,957,938 shares of the company’s stock valued at $57,857,000 after purchasing an additional 91,805 shares during the period. Dimensional Fund Advisors LP grew its holdings in Penguin Solutions by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,388,748 shares of the company’s stock valued at $46,726,000 after purchasing an additional 95,585 shares during the period. Invesco Ltd. grew its holdings in Penguin Solutions by 596.8% in the fourth quarter. Invesco Ltd. now owns 1,992,415 shares of the company’s stock valued at $38,972,000 after purchasing an additional 1,706,482 shares during the period. Finally, American Century Companies Inc. grew its holdings in Penguin Solutions by 35.3% in the third quarter. American Century Companies Inc. now owns 1,294,279 shares of the company’s stock valued at $34,014,000 after purchasing an additional 337,564 shares during the period.

Analyst Ratings Changes

Several research firms recently commented on PENG. The Goldman Sachs Group began coverage on Penguin Solutions in a report on Tuesday, January 13th. They set a “buy” rating and a $25.00 target price on the stock. Wall Street Zen raised Penguin Solutions from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Stifel Nicolaus dropped their target price on Penguin Solutions from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Weiss Ratings raised Penguin Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, April 6th. Finally, 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 report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Penguin Solutions presently has a consensus rating of “Moderate Buy” and a consensus 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.