Insider Selling: Penguin Solutions (NASDAQ:PENG) SVP Sells $202,320.00 in Stock

Penguin Solutions, Inc. (NASDAQ:PENG) SVP Anne Kuykendall sold 4,000 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $50.58, for a total value of $202,320.00. Following the transaction, the senior vice president directly owned 112,994 shares in the company, valued at $5,715,236.52. This represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Anne Kuykendall also recently made the following trade(s):

• On Monday, June 15th, Anne Kuykendall sold 4,000 shares of Penguin Solutions stock. The stock was sold at an average price of $64.38, for a total value of $257,520.00.

Penguin Solutions Price Performance

Shares of PENG stock opened at $49.51 on Friday. Penguin Solutions, Inc. has a fifty-two week low of $16.04 and a fifty-two week high of $89.86. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 35.11 and a beta of 2.87. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.10 and a current ratio of 1.54. The stock’s 50-day simple moving average is $60.56 and its 200-day simple moving average is $42.95.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PENG. Needham & Company LLC boosted their price objective on shares of Penguin Solutions from $60.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Wall Street Zen lowered Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Citizens Jmp lifted their price target on Penguin Solutions from $65.00 to $85.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 8th. Zacks Research upgraded Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. Finally, Stifel Nicolaus increased their price objective on Penguin Solutions from $66.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.33.

Institutional Trading of Penguin Solutions

Large investors have recently made changes to their positions in the business. Corient Private Wealth LP purchased a new position in shares of Penguin Solutions during the second quarter worth $341,000. HighTower Advisors LLC purchased a new stake in Penguin Solutions in the second quarter valued at $304,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Penguin Solutions in the second quarter valued at $707,000. California State Teachers Retirement System grew its position in Penguin Solutions by 5,256.9% during the 2nd quarter. California State Teachers Retirement System now owns 3,995,162 shares of the company’s stock worth $303,672,000 after purchasing an additional 3,920,582 shares during the period. Finally, Plan A Wealth LLC acquired a new stake in Penguin Solutions during the 2nd quarter worth about $335,000.

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.