Anne Kuykendall Sells 738 Shares of Penguin Solutions (NASDAQ:PENG) Stock

Key Points

• Anne Kuykendall, SVP at Penguin Solutions, sold 738 shares on April 22 at an average price of $27.92 under a Rule 10b5-1 plan to cover tax withholding, trimming her stake by 0.57% to 128,794 shares (≈$3.6M).
• Penguin Solutions beat quarterly expectations with EPS of $0.52 vs. $0.43 and revenue of $343M vs. $339M; the company has a market cap of about $1.4B and a P/E of ~20.5.
• The stock was down 1.2% mid-day at $27.58, while analysts maintain a consensus rating of Moderate Buy with a $27.25 target and institutions like Invesco have recently increased holdings.

Penguin Solutions, Inc. (NASDAQ:PENG - Get Free Report) SVP Anne Kuykendall sold 738 shares of the firm's stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $27.92, for a total value of $20,604.96. Following the sale, the senior vice president owned 128,794 shares of the company's stock, valued at approximately $3,595,928.48. This trade represents a 0.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.

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

• On Monday, March 16th, Anne Kuykendall sold 4,000 shares of Penguin Solutions stock. The shares were sold at an average price of $17.75, for a total value of $71,000.00.

Penguin Solutions Stock Down 1.2%

NASDAQ PENG traded down $0.34 during mid-day trading on Wednesday, reaching $27.58. 1,147,615 shares of the company's stock traded hands, compared to its average volume of 1,517,621. Penguin Solutions, Inc. has a 1-year low of $16.04 and a 1-year high of $29.80. The company has a fifty day simple moving average of $20.28 and a 200-day simple moving average of $20.49. 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 company has a market cap of $1.40 billion, a price-to-earnings ratio of 20.53 and a beta of 2.23.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 1st. The company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.09. The firm had revenue of $343.00 million during the quarter, compared to analyst estimates of $339.00 million. Penguin Solutions had a return on equity of 19.94% and a net margin of 4.07%. As a group, equities research analysts expect that Penguin Solutions, Inc. will post 1.66 EPS for the current year.

Institutional Trading of Penguin Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP acquired a new stake in shares of Penguin Solutions during the third quarter worth $60,264,000. Invesco Ltd. grew its stake 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 in the last quarter. William Blair Investment Management LLC purchased a new position in Penguin Solutions in the fourth quarter valued at about $18,290,000. Ophir Asset Management Pty Ltd grew its stake in Penguin Solutions by 234.3% in the fourth quarter. Ophir Asset Management Pty Ltd now owns 1,211,612 shares of the company's stock valued at $23,699,000 after purchasing an additional 849,178 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC acquired a new stake in shares of Penguin Solutions in the third quarter worth about $15,789,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PENG shares. Stifel Nicolaus decreased their target price on Penguin Solutions from $27.00 to $24.00 and set a "buy" rating for the company in a research report on Thursday, April 2nd. Wall Street Zen raised Penguin Solutions from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. Barclays downgraded Penguin Solutions from an "overweight" rating to an "equal weight" rating and raised their price target for the stock from $23.00 to $27.00 in a report on Wednesday. Zacks Research raised Penguin Solutions from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 7th. Finally, The Goldman Sachs Group began coverage on Penguin Solutions in a report on Tuesday, January 13th. They issued a "buy" rating and a $25.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.25.

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.

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