Penguin Solutions (NASDAQ:PENG) Director Maximiliane Straub Sells 3,000 Shares of Stock

Penguin Solutions, Inc. (NASDAQ:PENG) Director Maximiliane Straub sold 3,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $49.00, for a total transaction of $147,000.00. Following the sale, the director directly owned 51,975 shares of the company’s stock, valued at approximately $2,546,775. This trade represents a 5.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Penguin Solutions Stock Down 2.4%

Shares of Penguin Solutions stock opened at $45.71 on Tuesday. The company has a fifty day moving average price of $26.24 and a 200 day moving average price of $22.20. 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, Inc. has a twelve month low of $16.04 and a twelve month high of $53.27. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 63.49 and a beta of 2.66.

Penguin Solutions (NASDAQ:PENG) last announced its quarterly earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share for the quarter, topping 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 firm had revenue of $343.00 million during the quarter, compared to analysts’ expectations of $339.00 million. Equities research analysts forecast that Penguin Solutions, Inc. will post 1.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

PENG has been the subject of a number of analyst reports. Wall Street Zen raised shares of Penguin Solutions from a “hold” rating to a “buy” rating in a research report on Sunday. Weiss Ratings cut shares of Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Rosenblatt Securities reissued a “buy” rating and issued a $30.00 price objective on shares of Penguin Solutions in a research report on Monday, March 30th. Zacks Research raised shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 7th. Finally, Stifel Nicolaus decreased their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Penguin Solutions has a consensus rating of “Moderate Buy” and an average price target of $27.25.

Institutional Investors Weigh In On Penguin Solutions

Several institutional investors and hedge funds have recently bought and sold shares of PENG. Dimensional Fund Advisors LP acquired a new stake in Penguin Solutions during the third quarter worth about $60,264,000. Invesco Ltd. raised its stake in Penguin Solutions by 596.8% during the fourth quarter. Invesco Ltd. now owns 1,992,415 shares of the company’s stock worth $38,972,000 after acquiring an additional 1,706,482 shares during the period. William Blair Investment Management LLC acquired a new stake in Penguin Solutions during the fourth quarter worth about $18,290,000. Ophir Asset Management Pty Ltd raised its stake in Penguin Solutions by 234.3% during the fourth quarter. Ophir Asset Management Pty Ltd now owns 1,211,612 shares of the company’s stock worth $23,699,000 after acquiring an additional 849,178 shares during the period. Finally, Paradigm Capital Management Inc. NY raised its stake in Penguin Solutions by 73.8% during the first quarter. Paradigm Capital Management Inc. NY now owns 1,605,100 shares of the company’s stock worth $28,250,000 after acquiring an additional 681,700 shares during the period.

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.