Penguin Solutions (NASDAQ:PENG) SVP Joseph Gates Clark Sells 10,351 Shares of Stock

Penguin Solutions, Inc. (NASDAQ:PENG) SVP Joseph Gates Clark sold 10,351 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $58.87, for a total transaction of $609,363.37. Following the sale, the senior vice president directly owned 66,425 shares of the company’s stock, valued at approximately $3,910,439.75. This trade represents a 13.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, May 8th, Joseph Gates Clark sold 5,000 shares of Penguin Solutions stock. The shares were sold at an average price of $39.99, for a total transaction of $199,950.00.
• On Friday, April 24th, Joseph Gates Clark sold 5,000 shares of Penguin Solutions stock. The shares were sold at an average price of $29.75, for a total transaction of $148,750.00.
• On Thursday, April 23rd, Joseph Gates Clark sold 1,485 shares of Penguin Solutions stock. The shares were sold at an average price of $27.62, for a total transaction of $41,015.70.
• On Thursday, April 16th, Joseph Gates Clark sold 5,000 shares of Penguin Solutions stock. The stock was sold at an average price of $26.82, for a total transaction of $134,100.00.
• 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 transaction of $282,912.30.

Penguin Solutions Trading Up 18.3%

Shares of PENG opened at $70.65 on Wednesday. The company’s fifty day moving average is $33.21 and its 200 day moving average is $24.37. Penguin Solutions, Inc. has a fifty-two week low of $16.04 and a fifty-two week high of $73.24. The stock has a market capitalization of $3.59 billion, a PE ratio of 98.13 and a beta of 2.89. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.55 and a current ratio of 2.10.

Penguin Solutions (NASDAQ:PENG) last announced its quarterly earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share for the quarter, topping 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 company had revenue of $343.00 million for the quarter, compared to analysts’ expectations of $339.00 million. Sell-side analysts expect that Penguin Solutions, Inc. will post 1.66 earnings per share for the current fiscal year.

Trending Headlines about Penguin Solutions

Here are the key news stories impacting Penguin Solutions this week:

• Positive Sentiment: Penguin Solutions lifted FY2026 guidance, now expecting EPS of $2.30 and revenue of about $1.6 billion, both above consensus estimates. MarketWatch: Penguin Solutions Names Johnson Interim CFO; Boosts FY Outlook
• Positive Sentiment: The company said business trends remain strong enough that it expects to land at the high end of its prior outlook, which fueled fresh buying and helped push the stock to new highs. Seeking Alpha: Penguin soars as company expects to hit high end of guidance; announces CFO transition
• Positive Sentiment: Rosenblatt raised its price target on PENG from $54 to $65 and reiterated a Buy rating, adding to the bullish tone around the stock. Benzinga report on Rosenblatt price target raise
• Neutral Sentiment: The company named Aaron Johnson interim CFO after Nate Olmstead said he will step down in July; management said the move was not due to disagreements, which helped limit concerns about the transition. Business Wire: Penguin Solutions Announces CFO Transition
• Neutral Sentiment: One insider sale was disclosed by SVP Joseph Gates Clark, who sold shares under a pre-arranged 10b5-1 plan; while not necessarily a negative signal, insider selling can still get investor attention. SEC Form 4 filing
• Negative Sentiment: Some commentary suggests the stock has already had a very strong run, with valuation and recent gains making further upside less certain for some investors. Zacks: PENG Soars 215% in 3 Months

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PENG. Needham & Company LLC boosted their price target on shares of 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 upgraded shares of Penguin Solutions from a “hold” rating to a “buy” rating in a research report on Sunday, May 17th. Stifel Nicolaus boosted their price target on shares of Penguin Solutions from $24.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday. Rosenblatt Securities boosted their price target on shares of Penguin Solutions from $54.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Zacks Research raised shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $36.88.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PENG. Royal Bank of Canada purchased a new position in Penguin Solutions during the first quarter worth $7,250,000. Amundi purchased a new position in Penguin Solutions during the first quarter worth $373,000. AQR Capital Management LLC purchased a new position in Penguin Solutions during the first quarter worth $1,076,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Penguin Solutions during the first quarter worth $538,000. Finally, Goldman Sachs Group Inc. purchased a new position in Penguin Solutions during the first quarter worth $3,259,000.

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.