Penguin Solutions (NASDAQ:PENG) SVP Sells 4,000 Shares of Stock

Key Points

• Penguin Solutions SVP Anne Kuykendall sold 4,000 shares at an average price of $50.58, generating $202,320. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving her with 112,994 shares.
• Penguin Solutions recently reported quarterly EPS of $0.84, beating estimates of $0.63, while revenue of $478.71 million exceeded expectations of $407.47 million.
• Analysts maintain a generally positive view, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $63.33.

Penguin Solutions, Inc. (NASDAQ:PENG - Get Free Report) SVP Anne Kuykendall sold 4,000 shares of the company's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $50.58, for a total value of $202,320.00. Following the sale, the senior vice president directly owned 112,994 shares of the company's stock, valued at $5,715,236.52. The trade was a 3.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 traded up $1.48 during trading hours on Wednesday, reaching $51.86. 1,340,448 shares of the company were exchanged, compared to its average volume of 1,817,675. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.54 and a quick ratio of 1.10. Penguin Solutions, Inc. has a fifty-two week low of $16.04 and a fifty-two week high of $89.86. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 28.15 and a beta of 2.87. The stock's fifty day moving average is $61.21 and its two-hundred day moving average is $42.67.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 7th. The company reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.21. Penguin Solutions had a return on equity of 28.23% and a net margin of 6.44%.The company had revenue of $478.71 million during the quarter, compared to analysts' expectations of $407.47 million. During the same period in the prior year, the business posted $0.52 EPS. Sell-side analysts forecast that Penguin Solutions, Inc. will post 2.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on PENG. Needham & Company LLC increased their target price on Penguin Solutions from $60.00 to $80.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. Citizens Jmp boosted their price objective on shares of Penguin Solutions from $65.00 to $85.00 and gave the company 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. Citigroup reissued an "outperform" rating on shares of Penguin Solutions in a research report on Wednesday, July 8th. Finally, Stifel Nicolaus raised their target price on shares of Penguin Solutions from $66.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Penguin Solutions has a consensus rating of "Moderate Buy" and a consensus target price of $63.33.

Institutional Trading of Penguin Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC purchased a new stake in Penguin Solutions during the 2nd quarter worth approximately $26,000. Farther Finance Advisors LLC grew its holdings in shares of Penguin Solutions by 187.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company's stock valued at $28,000 after buying an additional 946 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Penguin Solutions in the 4th quarter valued at $29,000. Allworth Financial LP acquired a new stake in Penguin Solutions during the 2nd quarter worth about $37,000. Finally, Raymond James Financial Inc. acquired a new stake in Penguin Solutions during the 2nd quarter worth about $37,000.

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.

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