Penguin Solutions (NASDAQ:PENG) SVP Sells $148,750.00 in Stock

Key Points

• SVP Joseph Gates Clark sold 5,000 shares on April 24 at an average price of $29.75 for $148,750 under a pre-arranged Rule 10b5-1 plan, trimming his stake by 5.45% to 86,776 shares (about $2.58M).
• PENG stock traded down ~5.3% to $29.05 on heavy volume; the company beat Q1 estimates with $0.52 EPS versus $0.43 expected and $343M revenue, and carries a market cap of $1.47B with a consensus analyst rating of "Moderate Buy" (target $27.25).

Penguin Solutions, Inc. (NASDAQ:PENG - Get Free Report) SVP Joseph Gates Clark sold 5,000 shares of the company's stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $29.75, for a total transaction of $148,750.00. Following the completion of the sale, the senior vice president directly owned 86,776 shares of the company's stock, valued at $2,581,586. This represents a 5.45% decrease in their position. The sale was disclosed in a document filed 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 Thursday, April 23rd, Joseph Gates Clark sold 1,485 shares of Penguin Solutions stock. The shares were sold at an average price of $27.62, for a total transaction of $41,015.70.
• On Thursday, April 16th, Joseph Gates Clark sold 5,000 shares of Penguin Solutions stock. The shares were 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 Trading Down 5.3%

PENG stock traded down $1.64 during mid-day trading on Monday, hitting $29.05. 1,963,443 shares of the company were exchanged, compared to its average volume of 1,360,530. The company has a quick ratio of 1.55, a current ratio of 2.10 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $1.47 billion, a P/E ratio of 40.35 and a beta of 2.23. The business has a fifty day simple moving average of $20.68 and a 200-day simple moving average of $20.49. Penguin Solutions, Inc. has a 12-month low of $16.04 and a 12-month high of $31.30.

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. The company had revenue of $343.00 million during the quarter, compared to analyst estimates of $339.00 million. Penguin Solutions had a net margin of 4.07% and a return on equity of 19.94%. On average, equities research analysts predict that Penguin Solutions, Inc. will post 1.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Inspire Investing LLC boosted its stake in shares of Penguin Solutions by 26.3% in the first quarter. Inspire Investing LLC now owns 34,997 shares of the company's stock valued at $616,000 after purchasing an additional 7,297 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of Penguin Solutions in the first quarter valued at approximately $373,000. Evolve Private Wealth LLC boosted its stake in shares of Penguin Solutions by 10.0% in the first quarter. Evolve Private Wealth LLC now owns 15,637 shares of the company's stock valued at $275,000 after purchasing an additional 1,425 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Penguin Solutions by 8.0% in the fourth 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 period. Finally, Invesco Ltd. boosted its stake in shares of Penguin Solutions by 596.8% in the fourth quarter. Invesco Ltd. now owns 1,992,415 shares of the company's stock valued at $38,972,000 after purchasing an additional 1,706,482 shares during the period.

Analyst Ratings Changes

Several research analysts have weighed in on PENG shares. Needham & Company LLC increased their target price 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. Wall Street Zen raised shares of Penguin Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. Zacks Research raised shares of Penguin Solutions from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 7th. Stifel Nicolaus lowered their target price on shares of Penguin Solutions from $27.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, April 2nd. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $30.00 target price on shares of Penguin Solutions in a research note on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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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