Penguin Solutions, Inc. (NASDAQ:PENG) Director Penny Herscher Sells 2,046 Shares of Stock

Penguin Solutions, Inc. (NASDAQ:PENG) Director Penny Herscher sold 2,046 shares of the firm’s stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $25.42, for a total transaction of $52,009.32. Following the completion of the sale, the director owned 18,222 shares in the company, valued at $463,203.24. The trade was a 10.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Penny Herscher also recently made the following trade(s):

• On Thursday, July 17th, Penny Herscher sold 682 shares of Penguin Solutions stock. The shares were sold at an average price of $25.00, for a total transaction of $17,050.00.

Penguin Solutions Trading Down 0.7%

Shares of NASDAQ:PENG traded down $0.17 during mid-day trading on Friday, hitting $24.71. The stock had a trading volume of 63,848 shares, compared to its average volume of 908,465. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.24 and a current ratio of 2.62. The company has a market cap of $1.29 billion, a PE ratio of -88.33 and a beta of 1.98. Penguin Solutions, Inc. has a 12-month low of $14.20 and a 12-month high of $25.94. The company’s 50 day moving average is $20.07 and its 200-day moving average is $19.18.

Penguin Solutions (NASDAQ:PENG) last issued its quarterly earnings results on Tuesday, July 8th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.30 by $0.17. Penguin Solutions had a negative net margin of 0.68% and a positive return on equity of 13.27%. The business had revenue of $324,251 billion during the quarter, compared to the consensus estimate of $330.82 million. On average, sell-side analysts predict that Penguin Solutions, Inc. will post 1.05 EPS for the current year.

Wall Street Analyst Weigh In

PENG has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Penguin Solutions from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday. JMP Securities restated a “market outperform” rating and issued a $26.00 price target on shares of Penguin Solutions in a research note on Wednesday, July 9th. Needham & Company LLC restated a “buy” rating and issued a $27.00 price target on shares of Penguin Solutions in a research note on Wednesday, July 9th. The Goldman Sachs Group raised their price target on shares of Penguin Solutions from $22.50 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $27.00 price objective on shares of Penguin Solutions in a report on Thursday, July 3rd. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Penguin Solutions currently has an average rating of “Buy” and an average target price of $26.75.

Institutional Investors Weigh In On Penguin Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PENG. Vanguard Group Inc. bought a new position in shares of Penguin Solutions during the 1st quarter valued at $111,458,000. Alliancebernstein L.P. acquired a new position in Penguin Solutions in the 1st quarter valued at $28,919,000. Paradigm Capital Management Inc. NY acquired a new position in Penguin Solutions in the 1st quarter valued at $19,545,000. Think Investments LP acquired a new position in Penguin Solutions in the 1st quarter valued at $15,713,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in Penguin Solutions in the 1st quarter worth $14,786,000.

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.