Key Points
- SVP Joseph Gates Clark sold 5,000 shares on April 16 at an average price of $26.82 under a pre-arranged Rule 10b5‑1 plan to cover tax withholding, trimming his position by 4.97% to 95,549 shares valued at about $2.56 million.
- Penguin shares jumped about 5.1% following a quarter in which the company beat EPS estimates ($0.52 vs. $0.43) with $343 million revenue; the firm has a ~$1.43 billion market cap, a PE of ~39, and an analyst consensus of "Moderate Buy" with an average target of $27.29.
Penguin Solutions, Inc. (NASDAQ:PENG - Get Free Report) SVP Joseph Gates Clark sold 5,000 shares of the business's stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $26.82, for a total value of $134,100.00. Following the transaction, the senior vice president directly owned 95,549 shares of the company's stock, valued at $2,562,624.18. The trade was a 4.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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%
Shares of NASDAQ:PENG opened at $28.10 on Tuesday. Penguin Solutions, Inc. has a 52-week low of $15.40 and a 52-week high of $29.80. The firm has a fifty day moving average of $19.92 and a 200 day moving average of $20.44. The firm has a market capitalization of $1.43 billion, a PE ratio of 39.03 and a beta of 2.23. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.55 and a current ratio of 2.10.
Penguin Solutions (NASDAQ:PENG - Get Free Report) last announced its earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share (EPS) 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 company had revenue of $343.00 million during the quarter, compared to analyst estimates of $339.00 million. As a group, research analysts anticipate that Penguin Solutions, Inc. will post 1.66 EPS for the current fiscal year.
Institutional Trading of Penguin Solutions
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PENG. Vanguard Group Inc. lifted its holdings in Penguin Solutions by 0.4% in the third quarter. Vanguard Group Inc. now owns 6,592,564 shares of the company's stock worth $173,253,000 after buying an additional 25,804 shares during the period. State Street Corp lifted its holdings in Penguin Solutions by 3.2% in the fourth quarter. State Street Corp now owns 2,957,938 shares of the company's stock worth $57,857,000 after buying an additional 91,805 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Penguin Solutions by 4.2% in the fourth 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 period. Invesco Ltd. lifted its holdings in Penguin Solutions by 596.8% in the fourth quarter. Invesco Ltd. now owns 1,992,415 shares of the company's stock worth $38,972,000 after buying an additional 1,706,482 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Penguin Solutions by 35.3% in the third quarter. American Century Companies Inc. now owns 1,294,279 shares of the company's stock worth $34,014,000 after buying an additional 337,564 shares during the period.
Analyst Ratings Changes
Several brokerages have issued reports on PENG. The Goldman Sachs Group began coverage on Penguin Solutions in a research note on Tuesday, January 13th. They issued a "buy" rating and a $25.00 target price for the company. Stifel Nicolaus cut their price target on shares of Penguin Solutions from $27.00 to $24.00 and set a "buy" rating for the company in a research report on Thursday, April 2nd. Rosenblatt Securities restated a "buy" rating and set a $30.00 price target on shares of Penguin Solutions in a research report on Monday, March 30th. Zacks Research raised Penguin Solutions from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 7th. Finally, Weiss Ratings raised Penguin Solutions from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $27.29.
Read Our Latest Report on Penguin Solutions
About Penguin Solutions
(
Get Free Report)
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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