Penguin Solutions, Inc. (NASDAQ:PENG - Get Free Report) SVP Joseph Gates Clark sold 1,327 shares of the company's stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $57.47, for a total transaction of $76,262.69. Following the completion of the sale, the senior vice president directly owned 63,056 shares in the company, valued at approximately $3,623,828.32. The trade was a 2.06% decrease in their position. The transaction 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.
Joseph Gates Clark also recently made the following trade(s):
- On Monday, June 1st, Joseph Gates Clark sold 10,351 shares of Penguin Solutions stock. The stock was sold at an average price of $58.87, for a total transaction of $609,363.37.
- On Friday, May 8th, Joseph Gates Clark sold 5,000 shares of Penguin Solutions stock. The stock was sold at an average price of $39.99, for a total transaction of $199,950.00.
Penguin Solutions Stock Down 8.3%
NASDAQ PENG opened at $48.13 on Wednesday. The company has a current ratio of 1.54, a quick ratio of 1.10 and a debt-to-equity ratio of 0.65. The stock's 50 day moving average is $63.14 and its two-hundred day moving average is $37.43. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 34.13 and a beta of 2.83. Penguin Solutions, Inc. has a 1-year low of $16.04 and a 1-year high of $89.86.
Penguin Solutions (NASDAQ:PENG - Get Free Report) last released its quarterly earnings data on Tuesday, July 7th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.21. Penguin Solutions had a return on equity of 28.23% and a net margin of 6.44%.The company had revenue of $478.71 million for the quarter, compared to analyst estimates of $407.47 million. During the same period in the prior year, the company posted $0.52 EPS. Equities analysts forecast that Penguin Solutions, Inc. will post 2.08 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Penguin Solutions
Several institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC boosted 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 worth $28,000 after purchasing an additional 946 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Penguin Solutions in the fourth quarter valued at about $29,000. Allworth Financial LP raised its holdings in shares of Penguin Solutions by 41.4% in the third quarter. Allworth Financial LP now owns 1,792 shares of the company's stock valued at $47,000 after buying an additional 525 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Penguin Solutions during the 2nd quarter worth about $37,000. Finally, Advisory Services Network LLC acquired a new position in Penguin Solutions during the 3rd quarter worth about $50,000.
Analysts Set New Price Targets
Several research analysts have issued reports on PENG shares. Rosenblatt Securities increased their price objective on Penguin Solutions from $65.00 to $75.00 and gave the stock a "buy" rating in a research note on Monday, July 6th. Stifel Nicolaus boosted their target price on shares of Penguin Solutions from $66.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. Citizens Jmp increased their target price on shares of Penguin Solutions from $65.00 to $85.00 and gave the stock a "market outperform" rating in a research report on Wednesday, July 8th. Weiss Ratings raised shares of Penguin Solutions from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, July 8th. Finally, Wall Street Zen downgraded shares of Penguin Solutions from a "strong-buy" rating to a "buy" rating in a report on Sunday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $63.33.
Check Out Our Latest Stock Report on Penguin Solutions
Penguin Solutions Company Profile
(
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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