Insider Selling: Penguin Solutions (NASDAQ:PENG) COO Sells 6,667 Shares of Stock

Penguin Solutions (NASDAQ:PENG) COO Jack A. Pacheco sold 6,667 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $20.55, for a total transaction of $137,006.85. Following the sale, the chief operating officer now owns 231,548 shares of the company’s stock, valued at approximately $4,758,311.40. This represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Penguin Solutions Stock Up 4.1 %

PENG opened at $21.34 on Thursday. The company has a current ratio of 2.33, a quick ratio of 1.75 and a debt-to-equity ratio of 1.61. The firm has a 50 day simple moving average of $19.15. Penguin Solutions has a 12-month low of $14.87 and a 12-month high of $29.81.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PENG shares. Citizens Jmp raised shares of Penguin Solutions to a “strong-buy” rating in a research note on Monday, November 18th. Rosenblatt Securities reiterated a “buy” rating and issued a $27.00 target price on shares of Penguin Solutions in a research note on Thursday, December 19th. The Goldman Sachs Group began coverage on Penguin Solutions in a research report on Friday, November 1st. They issued a “buy” rating and a $21.00 price target for the company. Stifel Nicolaus cut their price objective on Penguin Solutions from $32.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Finally, JMP Securities assumed coverage on Penguin Solutions in a research report on Monday, November 18th. They set an “outperform” rating and a $23.00 target price for the company. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $25.43.

Penguin Solutions Company Profile

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.