Key Points
- Penguin Solutions director Sandeep Nayyar sold 12,893 shares on May 11 at an average price of $45.09, generating about $581,345. The sale reduced his direct ownership by 28.39% to 32,524 shares.
- Nayyar also sold 7,107 additional shares on May 12 at an average price of $43.48, for roughly $309,012, according to the SEC filing.
- Despite the insider selling, Penguin Solutions recently beat quarterly earnings and revenue estimates, and analysts currently rate the stock a “Moderate Buy” with an average price target of $27.25.
Penguin Solutions, Inc. (NASDAQ:PENG - Get Free Report) Director Maximiliane Straub sold 4,000 shares of the firm's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $44.34, for a total transaction of $177,360.00. Following the completion of the sale, the director owned 54,975 shares in the company, valued at $2,437,591.50. The trade was a 6.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Penguin Solutions Price Performance
Shares of PENG opened at $48.27 on Thursday. Penguin Solutions, Inc. has a twelve month low of $16.04 and a twelve month high of $53.27. The firm's fifty day simple moving average is $24.55 and its 200-day simple moving average is $21.68. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 67.04 and a beta of 2.66. 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 quarterly earnings data on Wednesday, April 1st. The company reported $0.52 earnings per share for the quarter, beating 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 business had revenue of $343.00 million for the quarter, compared to analyst estimates of $339.00 million. Equities analysts forecast that Penguin Solutions, Inc. will post 1.66 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several brokerages recently commented on PENG. Wall Street Zen lowered shares of Penguin Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Zacks Research upgraded 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 research note on Monday, April 6th. Rosenblatt Securities reiterated a "buy" rating and set a $30.00 price target on shares of Penguin Solutions in a research note on Monday, March 30th. Finally, Barclays lowered 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. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Penguin Solutions currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.25.
Get Our Latest Stock Report on Penguin Solutions
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of PENG. Farther Finance Advisors LLC increased its stake in Penguin Solutions by 187.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company's stock valued at $28,000 after purchasing an additional 946 shares during the period. Kestra Advisory Services LLC acquired a new position in Penguin Solutions in the fourth quarter valued at $29,000. Raymond James Financial Inc. acquired a new position in Penguin Solutions in the second quarter valued at $37,000. Strs Ohio acquired a new position in Penguin Solutions in the third quarter valued at $42,000. Finally, Jones Financial Companies Lllp increased its stake in Penguin Solutions by 4,131.7% in the third quarter. Jones Financial Companies Lllp now owns 1,735 shares of the company's stock valued at $45,000 after purchasing an additional 1,694 shares during the period.
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.
Further Reading
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