Joseph Gates Clark Sells 12,546 Shares of Penguin Solutions (NASDAQ:PENG) Stock

Key Points

• SVP Joseph Gates Clark sold 12,546 shares of Penguin Solutions on April 9 at an average price of $22.55 for $282,912.30, reducing his stake by 11.17% to 99,726 shares; the transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
• Penguin Solutions beat the quarter: EPS $0.52 vs. $0.43 expected and revenue $343M vs. $339M, and the stock traded at $23.02 (up 0.7%) with a market cap of $1.17B and a P/E of 31.97.
• Analysts and institutions are showing interest — the consensus rating is “Moderate Buy” with a $27.29 target after multiple upgrades, and large institutional buys include Invesco increasing its stake by ~596.8%.

Penguin Solutions, Inc. (NASDAQ:PENG - Get Free Report) SVP Joseph Gates Clark sold 12,546 shares of Penguin Solutions stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $22.55, for a total value of $282,912.30. Following the sale, the senior vice president directly owned 99,726 shares of the company's stock, valued at approximately $2,248,821.30. This trade represents a 11.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 Tuesday, February 10th, Joseph Gates Clark sold 1,346 shares of Penguin Solutions stock. The stock was sold at an average price of $19.03, for a total value of $25,614.38.

Penguin Solutions Stock Up 0.7%

Shares of Penguin Solutions stock traded up $0.17 during trading on Friday, hitting $23.02. 963,496 shares of the stock traded hands, compared to its average volume of 1,298,214. The firm has a market cap of $1.17 billion, a P/E ratio of 31.97 and a beta of 2.23. The company has a current ratio of 2.10, a quick ratio of 1.55 and a debt-to-equity ratio of 1.09. Penguin Solutions, Inc. has a 52-week low of $15.40 and a 52-week high of $29.80. The stock's fifty day simple moving average is $18.92 and its 200 day simple moving average is $20.59.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last released its quarterly earnings data on Wednesday, April 1st. The company reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $339.00 million. On average, equities analysts predict that Penguin Solutions, Inc. will post 1.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PENG has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Penguin Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. Zacks Research upgraded Penguin Solutions from a "hold" rating to a "strong-buy" rating in a report on Tuesday. The Goldman Sachs Group began coverage on Penguin Solutions in a research report on Tuesday, January 13th. They issued a "buy" rating and a $25.00 price target for the company. Weiss Ratings upgraded Penguin Solutions from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday. Finally, Needham & Company LLC raised their price objective on Penguin Solutions from $25.00 to $27.00 and gave the company a "buy" rating in a research report on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $27.29.

Institutional Investors Weigh In On Penguin Solutions

Institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC lifted its holdings in shares of 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 during the last quarter. Invesco Ltd. grew 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 worth $38,972,000 after buying an additional 1,706,482 shares during the last quarter. Twinbeech Capital LP increased its position in Penguin Solutions by 324.5% during the 4th quarter. Twinbeech Capital LP now owns 43,200 shares of the company's stock valued at $845,000 after buying an additional 33,023 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Penguin Solutions in the fourth quarter valued at about $1,017,000. Finally, Ophir Asset Management Pty Ltd raised 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 buying an additional 849,178 shares during the last quarter.

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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