Insider Selling: Penguin Solutions (NASDAQ:PENG) SVP Sells $44,770.88 in Stock

Key Points

• Penguin Solutions SVP Joseph Clark sold 869 shares at an average price of $51.52, totaling $44,770.88. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, leaving him with 85,853 shares.
• PENG shares rose 2.8% to $54.92, while the company’s latest quarterly results exceeded expectations with $1.00 in EPS versus a $0.77 estimate and revenue of $566.68 million versus $520.99 million expected.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus rating and an average price target of $87.50; several firms recently assigned or reiterated buy ratings with targets as high as $100.

Penguin Solutions, Inc. (NASDAQ:PENG - Get Free Report) SVP Joseph Clark sold 869 shares of the company's stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $51.52, for a total transaction of $44,770.88. Following the sale, the senior vice president owned 85,853 shares in the company, valued at $4,423,146.56. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Penguin Solutions Trading Up 2.8%

Shares of NASDAQ:PENG traded up $1.51 during trading on Monday, reaching $54.92. The company's stock had a trading volume of 2,994,443 shares, compared to its average volume of 5,257,808. The company has a current ratio of 1.88, a quick ratio of 1.25 and a debt-to-equity ratio of 1.37. Penguin Solutions, Inc. has a 12 month low of $16.04 and a 12 month high of $89.86. The firm's 50 day simple moving average is $56.10 and its two-hundred day simple moving average is $43.11. The stock has a market capitalization of $3.31 billion, a PE ratio of 22.25, a price-to-earnings-growth ratio of 0.63 and a beta of 2.86.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last released its quarterly earnings results on Tuesday, October 6th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.77 by $0.23. Penguin Solutions had a return on equity of 36.71% and a net margin of 10.43%. The company had revenue of $566.68 million during the quarter, compared to analyst estimates of $520.99 million. During the same quarter last year, the business posted $0.11 earnings per share. Penguin Solutions has set its FY 2027 guidance at 3.750-5.15 EPS. On average, research analysts predict that Penguin Solutions, Inc. will post 4.05 EPS for the current fiscal year.

Analyst Ratings Changes

PENG has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft set a $100.00 price target on Penguin Solutions in a report on Friday, October 9th. Citizens Jmp lifted their price objective on shares of Penguin Solutions from $65.00 to $85.00 and gave the stock a "market outperform" rating in a research note on Wednesday, July 8th. Bank of America began coverage on shares of Penguin Solutions in a research report on Friday, October 9th. They set a "buy" rating and a $100.00 price objective on the stock. Rosenblatt Securities increased their target price on shares of Penguin Solutions from $80.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, October 7th. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $85.00 target price on shares of Penguin Solutions in a report on Wednesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $87.50.

Hedge Funds Weigh In On Penguin Solutions

A number of large investors have recently bought and sold shares of PENG. BlackRock Inc. purchased a new stake in Penguin Solutions in the second quarter worth $581,658,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Penguin Solutions during the second quarter valued at $150,192,000. Paradigm Capital Management Inc. NY bought a new position in shares of Penguin Solutions in the second quarter worth about $52,135,000. William Blair Investment Management LLC bought a new position in shares of Penguin Solutions in the second quarter worth about $34,207,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Penguin Solutions in the second quarter worth about $22,503,000.

About Penguin Solutions

Penguin Solutions, Inc provides technology products and services for data center, cloud, artificial intelligence, high-performance computing, edge computing and embedded applications. The company designs and delivers memory products, computing platforms and integrated infrastructure intended to help organizations manage demanding workloads and deploy specialized technology environments.

Its offerings include memory modules and other memory-related products, high-performance computing systems, servers, storage and networking solutions, and software and services for infrastructure management.

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