Penguin Solutions (NASDAQ:PENG) Director Maximiliane Straub Sells 4,000 Shares

by · The Cerbat Gem

Penguin Solutions, Inc. (NASDAQ:PENG – Get Free Report) Director Maximiliane Straub sold 4,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $44.34, for a total transaction of $177,360.00. Following the sale, the director directly owned 54,975 shares of the company’s stock, valued at approximately $2,437,591.50. This represents a 6.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Penguin Solutions Price Performance

NASDAQ PENG traded up $4.14 during trading hours on Wednesday, hitting $48.27. 9,088,705 shares of the company’s stock traded hands, compared to its average volume of 1,687,818. Penguin Solutions, Inc. has a 52-week low of $16.04 and a 52-week high of $53.27. The company has a market capitalization of $2.45 billion, a PE ratio of 67.04 and a beta of 2.66. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.10 and a quick ratio of 1.55. The firm’s 50-day moving average is $23.98 and its 200-day moving average is $21.49.

Penguin Solutions (NASDAQ:PENG – Get Free Report) last announced its quarterly earnings data on Wednesday, April 1st. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.09. Penguin Solutions had a net margin of 4.07% and a return on equity of 19.94%. The company had revenue of $343.00 million during the quarter, compared to analysts’ expectations of $339.00 million. Equities analysts forecast that Penguin Solutions, Inc. will post 1.66 EPS for the current fiscal year.

Institutional Trading of Penguin Solutions

Several hedge funds have recently made changes to their positions in PENG. Dimensional Fund Advisors LP purchased a new stake in shares of Penguin Solutions in the 3rd quarter valued at approximately $60,264,000. Invesco Ltd. grew its stake in shares of Penguin Solutions by 596.8% in the 4th quarter. Invesco Ltd. now owns 1,992,415 shares of the company’s stock valued at $38,972,000 after buying an additional 1,706,482 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of Penguin Solutions in the 4th quarter valued at approximately $18,290,000. Ophir Asset Management Pty Ltd grew its stake in shares of Penguin Solutions by 234.3% in the 4th quarter. Ophir Asset Management Pty Ltd now owns 1,211,612 shares of the company’s stock valued at $23,699,000 after buying an additional 849,178 shares during the period. Finally, ArrowMark Colorado Holdings LLC purchased a new stake in shares of Penguin Solutions in the 3rd quarter valued at approximately $15,789,000.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Penguin Solutions in a research note on Tuesday, January 13th. They set a “buy” rating and a $25.00 price objective for the company. Weiss Ratings raised shares of Penguin Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, April 6th. Stifel Nicolaus dropped 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. 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. Finally, Wall Street Zen cut shares of Penguin Solutions from a “buy” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Penguin Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.25.

Read Our Latest Stock Analysis on PENG

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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