Joseph Gates Clark Sells 1,327 Shares of Penguin Solutions (NASDAQ:PENG) Stock

Key Points

• Penguin Solutions SVP Joseph Gates Clark sold 1,327 shares at an average price of $57.47, worth approximately $76,263. The transaction was made under a pre-arranged Rule 10b5-1 plan, leaving him with 63,056 shares.
• Penguin Solutions reported quarterly EPS of $0.84, surpassing the $0.63 consensus estimate, while revenue of $478.71 million also exceeded expectations. Shares recently traded at $47.16, well below the $63.33 analyst consensus price target.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and several upgrades, though Barclays downgraded the stock to “underweight” with a $40 price target.

Penguin Solutions, Inc. (NASDAQ:PENG - Get Free Report) SVP Joseph Gates Clark sold 1,327 shares of the firm's stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $57.47, for a total transaction of $76,262.69. Following the completion of the sale, the senior vice president owned 63,056 shares of the company's stock, valued at $3,623,828.32. This trade represents a 2.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 Monday, June 1st, Joseph Gates Clark sold 10,351 shares of Penguin Solutions stock. The stock was sold at an average price of $58.87, for a total value of $609,363.37.
• On Friday, May 8th, Joseph Gates Clark sold 5,000 shares of Penguin Solutions stock. The stock was sold at an average price of $39.99, for a total value of $199,950.00.

Penguin Solutions Price Performance

Shares of PENG stock traded down $5.33 during trading hours on Tuesday, reaching $47.16. The company's stock had a trading volume of 1,912,556 shares, compared to its average volume of 2,496,511. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 33.49 and a beta of 2.83. The company has a quick ratio of 1.10, a current ratio of 1.54 and a debt-to-equity ratio of 0.65. The firm's 50 day simple moving average is $63.11 and its 200-day simple moving average is $37.22. Penguin Solutions, Inc. has a fifty-two week low of $16.04 and a fifty-two week high of $89.86.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PENG shares. Zacks Research raised shares of Penguin Solutions from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 30th. Weiss Ratings upgraded Penguin Solutions from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, July 8th. Citigroup reissued an "outperform" rating on shares of Penguin Solutions in a research note on Wednesday, July 8th. Rosenblatt Securities lifted their price target on Penguin Solutions from $65.00 to $75.00 and gave the company a "buy" rating in a research report on Monday, July 6th. Finally, Barclays lowered shares of Penguin Solutions from an "equal weight" rating to an "underweight" rating and set a $40.00 price target for the company. in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Penguin Solutions presently has an average rating of "Moderate Buy" and a consensus price target of $63.33.

Hedge Funds Weigh In On Penguin Solutions

Large investors have recently made changes to their positions in the business. State Street Corp grew its holdings in shares of Penguin Solutions by 3.2% in the fourth quarter. State Street Corp now owns 2,957,938 shares of the company's stock valued at $57,857,000 after purchasing an additional 91,805 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Penguin Solutions by 4.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,388,748 shares of the company's stock worth $46,726,000 after buying an additional 95,585 shares during the last quarter. Invesco Ltd. increased its position in shares of Penguin Solutions by 596.8% in the 4th quarter. Invesco Ltd. now owns 1,992,415 shares of the company's stock valued at $38,972,000 after acquiring an additional 1,706,482 shares during the period. Paradigm Capital Management Inc. NY boosted its position in Penguin Solutions by 73.8% in the first quarter. Paradigm Capital Management Inc. NY now owns 1,605,100 shares of the company's stock valued at $28,250,000 after buying an additional 681,700 shares during the last quarter. Finally, Ophir Asset Management Pty Ltd grew its holdings in Penguin Solutions by 234.3% during the fourth quarter. Ophir Asset Management Pty Ltd now owns 1,211,612 shares of the company's stock worth $23,699,000 after acquiring an additional 849,178 shares during the period.

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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