Penguin Solutions (NASDAQ:PENG) SVP Anne Kuykendall Sells 4,000 Shares of Stock

Penguin Solutions, Inc. (NASDAQ:PENG) SVP Anne Kuykendall sold 4,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $54.45, for a total transaction of $217,800.00. Following the completion of the sale, the senior vice president owned 124,794 shares in the company, valued at approximately $6,795,033.30. This trade represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Anne Kuykendall also recently made the following trade(s):

• On Wednesday, April 22nd, Anne Kuykendall sold 738 shares of Penguin Solutions stock. The stock was sold at an average price of $27.92, for a total transaction of $20,604.96.
• On Monday, March 16th, Anne Kuykendall sold 4,000 shares of Penguin Solutions stock. The stock was sold at an average price of $17.75, for a total transaction of $71,000.00.

Penguin Solutions Price Performance

Shares of Penguin Solutions stock opened at $54.07 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.55 and a debt-to-equity ratio of 1.09. The company’s 50-day moving average price is $31.60 and its two-hundred day moving average price is $23.86. Penguin Solutions, Inc. has a 52 week low of $16.04 and a 52 week high of $55.65. The stock has a market cap of $2.74 billion, a PE ratio of 75.10 and a beta of 2.66.

Penguin Solutions (NASDAQ:PENG) last issued 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 return on equity of 19.94% and a net margin of 4.07%.The firm had revenue of $343.00 million for the quarter, compared to analysts’ expectations of $339.00 million. As a group, sell-side analysts anticipate that Penguin Solutions, Inc. will post 1.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Penguin Solutions

Institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its stake in Penguin Solutions by 187.0% during the 4th quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock valued at $28,000 after acquiring an additional 946 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in Penguin Solutions during the 4th quarter valued at about $29,000. Strs Ohio purchased a new position in Penguin Solutions during the 3rd quarter valued at about $42,000. Jones Financial Companies Lllp grew its stake in shares of Penguin Solutions by 4,131.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,735 shares of the company’s stock valued at $45,000 after buying an additional 1,694 shares in the last quarter. Finally, Allworth Financial LP grew its stake in shares of Penguin Solutions by 41.4% in the 3rd quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock valued at $47,000 after buying an additional 525 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have commented on PENG. Stifel Nicolaus reduced 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 note on Thursday, April 2nd. Weiss Ratings lowered shares of Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. Zacks Research raised shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. Barclays lowered shares of Penguin Solutions from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $23.00 to $27.00 in a research note on Wednesday, April 22nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $30.00 price objective on shares of Penguin Solutions in a research note on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.25.

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.