Jack A. Pacheco Sells 63,447 Shares of Penguin Solutions, Inc. (NASDAQ:PENG) Stock

Penguin Solutions, Inc. (NASDAQ:PENG - Get Free Report) EVP Jack A. Pacheco sold 63,447 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $24.83, for a total transaction of $1,575,389.01. Following the transaction, the executive vice president directly owned 227,231 shares of the company's stock, valued at $5,642,145.73. This represents a 21.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Penguin Solutions Trading Up 0.7%

PENG stock traded up $0.18 during midday trading on Friday, reaching $25.08. The company's stock had a trading volume of 389,577 shares, compared to its average volume of 872,895. The business's 50-day simple moving average is $20.65 and its 200-day simple moving average is $19.36. The company has a quick ratio of 2.24, a current ratio of 2.62 and a debt-to-equity ratio of 1.08. Penguin Solutions, Inc. has a 52 week low of $14.20 and a 52 week high of $25.94. The stock has a market cap of $1.31 billion, a PE ratio of -89.57 and a beta of 1.98.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 8th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.17. The company had revenue of $324,251 billion for the quarter, compared to the consensus estimate of $330.82 million. Penguin Solutions had a positive return on equity of 13.27% and a negative net margin of 0.68%. As a group, sell-side analysts expect that Penguin Solutions, Inc. will post 1.05 EPS for the current year.

Hedge Funds Weigh In On Penguin Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the company. Crews Bank & Trust acquired a new stake in shares of Penguin Solutions during the first quarter worth $28,000. IFP Advisors Inc acquired a new stake in shares of Penguin Solutions during the first quarter worth $39,000. UMB Bank n.a. acquired a new stake in shares of Penguin Solutions during the second quarter worth $44,000. CWM LLC acquired a new stake in Penguin Solutions in the 1st quarter valued at $39,000. Finally, Virtus Advisers LLC acquired a new stake in Penguin Solutions in the 1st quarter valued at $43,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PENG. Loop Capital set a $35.00 price objective on shares of Penguin Solutions and gave the company a "buy" rating in a research report on Monday, July 14th. JMP Securities reissued a "market outperform" rating and issued a $26.00 price target on shares of Penguin Solutions in a research report on Wednesday, July 9th. JPMorgan Chase & Co. increased their price target on shares of Penguin Solutions from $21.00 to $24.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. The Goldman Sachs Group increased their price target on shares of Penguin Solutions from $22.50 to $25.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Wall Street Zen lowered shares of Penguin Solutions from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $27.13.

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.