Joseph Gates Clark Sells 1,485 Shares of Penguin Solutions (NASDAQ:PENG) Stock

Key Points

• SVP Joseph Gates Clark sold multiple tranches of Penguin Solutions stock (most recently 1,485 shares on April 23 at $27.62) under a pre-arranged Rule 10b5-1 trading plan, leaving him with 91,776 shares (≈$2.53M), a 1.59% reduction in his position.
• Penguin Solutions shares trade around $29.05, well above the 50- and 200-day SMAs near $20.5, with a market cap of $1.47B, a P/E of 40.35, and a 1-year range of $16.04–$31.30.
• The company reported a quarterly EPS beat ($0.52 vs. $0.43) on $343M revenue, and analysts hold a consensus rating of "Moderate Buy" with a $27.25 price target while several institutions (including RBC and Goldman) recently initiated stakes.

Penguin Solutions, Inc. (NASDAQ:PENG - Get Free Report) SVP Joseph Gates Clark sold 1,485 shares of the firm's stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $27.62, for a total transaction of $41,015.70. Following the completion of the sale, the senior vice president owned 91,776 shares in the company, valued at approximately $2,534,853.12. The trade was a 1.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Joseph Gates Clark also recently made the following trade(s):

• On Friday, April 24th, Joseph Gates Clark sold 5,000 shares of Penguin Solutions stock. The stock was sold at an average price of $29.75, for a total transaction of $148,750.00.
• On Thursday, April 16th, Joseph Gates Clark sold 5,000 shares of Penguin Solutions stock. The stock was sold at an average price of $26.82, for a total transaction of $134,100.00.
• On Thursday, April 9th, Joseph Gates Clark sold 12,546 shares of Penguin Solutions stock. The stock was sold at an average price of $22.55, for a total transaction of $282,912.30.
• 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 transaction of $25,614.38.

Penguin Solutions Stock Performance

Shares of Penguin Solutions stock traded down $1.64 during midday trading on Monday, hitting $29.05. The company had a trading volume of 1,963,443 shares, compared to its average volume of 1,360,530. The business's 50 day simple moving average is $20.68 and its two-hundred day simple moving average is $20.49. The stock has a market cap of $1.47 billion, a PE ratio of 40.35 and a beta of 2.23. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.10 and a quick ratio of 1.55. Penguin Solutions, Inc. has a 1-year low of $16.04 and a 1-year high of $31.30.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $343.00 million for the quarter, compared to the consensus estimate of $339.00 million. As a group, equities analysts predict that Penguin Solutions, Inc. will post 1.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Penguin Solutions

Several institutional investors and hedge funds have recently made changes to their positions in PENG. Royal Bank of Canada acquired a new stake in shares of Penguin Solutions in the 1st quarter valued at $7,250,000. Amundi acquired a new stake in shares of Penguin Solutions in the 1st quarter valued at $373,000. AQR Capital Management LLC acquired a new stake in shares of Penguin Solutions in the 1st quarter valued at $1,076,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Penguin Solutions in the 1st quarter valued at $538,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Penguin Solutions in the 1st quarter valued at $3,259,000.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PENG shares. Needham & Company LLC lifted their price target on shares of Penguin Solutions from $25.00 to $27.00 and gave the stock a "buy" rating in a research note on Thursday, April 2nd. Barclays downgraded shares of Penguin Solutions from an "overweight" rating to an "equal weight" rating and lifted their price target for the stock from $23.00 to $27.00 in a research note on Wednesday, April 22nd. The Goldman Sachs Group started coverage on shares of Penguin Solutions in a research note on Tuesday, January 13th. They set a "buy" rating and a $25.00 price target on the stock. Weiss Ratings upgraded shares of Penguin Solutions from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, April 6th. Finally, Zacks Research upgraded shares of Penguin Solutions from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.25.

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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