Penguin Solutions (NASDAQ:PENG) SVP Joseph Gates Clark Sells 5,000 Shares

Key Points

• SVP Joseph Gates Clark sold 5,000 shares on April 16 at an average price of $26.82 (totaling $134,100) under a pre-arranged Rule 10b5-1 plan to cover tax withholding, leaving him with 95,549 shares (a 4.97% ownership decrease).
• Penguin's stock jumped **5.1%** to $28.10 on heavy volume after reporting Q1 EPS of $0.52 (vs. $0.43 consensus); analysts have a MarketBeat consensus of Moderate Buy with a $27.29 target and the company has a market cap of about $1.43 billion.

Penguin Solutions, Inc. (NASDAQ:PENG - Get Free Report) SVP Joseph Gates Clark sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $26.82, for a total transaction of $134,100.00. Following the sale, the senior vice president directly owned 95,549 shares in the company, valued at approximately $2,562,624.18. The trade was a 4.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• 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 Up 5.1%

PENG traded up $1.36 during trading hours on Monday, hitting $28.10. 2,090,545 shares of the company's stock were exchanged, compared to its average volume of 1,368,584. Penguin Solutions, Inc. has a 12-month low of $15.40 and a 12-month high of $29.80. The firm has a 50 day moving average of $19.92 and a 200 day moving average of $20.44. The firm has a market cap of $1.43 billion, a P/E ratio of 19.66 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 (NASDAQ:PENG - Get Free Report) last announced its earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate 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. Analysts predict that Penguin Solutions, Inc. will post 1.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its holdings in shares of Penguin Solutions by 187.0% in the 4th 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 in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Penguin Solutions in the 4th quarter valued at $29,000. Raymond James Financial Inc. acquired a new position in shares of Penguin Solutions in the 2nd quarter valued at $37,000. Strs Ohio acquired a new position in shares of Penguin Solutions in the 3rd quarter valued at $42,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Penguin Solutions by 4,131.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,735 shares of the company's stock valued at $45,000 after buying an additional 1,694 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Zacks Research raised shares of Penguin Solutions from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 7th. Weiss Ratings upgraded shares of Penguin Solutions from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, April 6th. The Goldman Sachs Group assumed coverage on shares of Penguin Solutions in a report on Tuesday, January 13th. They set a "buy" rating and a $25.00 price target for the company. Wall Street Zen upgraded shares of Penguin Solutions from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. Finally, Stifel Nicolaus lowered their price target on shares of Penguin Solutions from $27.00 to $24.00 and set a "buy" rating for the company in a report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Penguin Solutions presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.29.

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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