Penguin Solutions (NASDAQ:PENG) SVP Joseph Gates Clark Sells 5,000 Shares of Stock

Penguin Solutions, Inc. (NASDAQ:PENG) SVP Joseph Gates Clark sold 5,000 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $29.75, for a total value of $148,750.00. Following the sale, the senior vice president owned 86,776 shares in the company, valued at $2,581,586. The trade was a 5.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 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 value of $41,015.70.
• On Thursday, April 16th, Joseph Gates Clark sold 5,000 shares of Penguin Solutions stock. The shares were sold at an average price of $26.82, for a total value of $134,100.00.
• On Thursday, April 9th, Joseph Gates Clark sold 12,546 shares of Penguin Solutions stock. The shares were 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 shares were sold at an average price of $19.03, for a total value of $25,614.38.

Penguin Solutions Stock Down 5.3%

PENG opened at $29.05 on Tuesday. Penguin Solutions, Inc. has a 12 month low of $16.04 and a 12 month high of $31.30. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.10 and a quick ratio of 1.55. The stock has a market cap of $1.47 billion, a P/E ratio of 40.35 and a beta of 2.23. The stock’s 50 day moving average price is $20.87 and its 200 day moving average price is $20.54.

Penguin Solutions (NASDAQ:PENG) last posted its earnings results on Wednesday, April 1st. The company reported $0.52 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $339.00 million. As a group, research analysts predict that Penguin Solutions, Inc. will post 1.66 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wall Street Zen upgraded Penguin Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Barclays cut Penguin Solutions from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $23.00 to $27.00 in a research report on Wednesday, April 22nd. Needham & Company LLC raised their target price on Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. The Goldman Sachs Group initiated coverage on Penguin Solutions in a research note on Tuesday, January 13th. They set a “buy” rating and a $25.00 price target for the company. Finally, Zacks Research raised Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.25.

Hedge Funds Weigh In On Penguin Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Inspire Investing LLC boosted its stake in Penguin Solutions by 26.3% during the 1st quarter. Inspire Investing LLC now owns 34,997 shares of the company’s stock valued at $616,000 after purchasing an additional 7,297 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Penguin Solutions during the 1st quarter valued at $373,000. Evolve Private Wealth LLC boosted its stake in Penguin Solutions by 10.0% during the 1st quarter. Evolve Private Wealth LLC now owns 15,637 shares of the company’s stock valued at $275,000 after purchasing an additional 1,425 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Penguin Solutions by 8.0% during the 4th quarter. Hsbc Holdings PLC now owns 211,373 shares of the company’s stock valued at $4,170,000 after purchasing an additional 15,567 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Penguin Solutions by 596.8% during the 4th 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 in the last quarter.

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.