Penguin Solutions (NASDAQ:PENG) COO Sells $267,346.70 in Stock

by · The Cerbat Gem

Penguin Solutions (NASDAQ:PENG – Get Free Report) COO Jack A. Pacheco sold 13,334 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $20.05, for a total value of $267,346.70. Following the completion of the sale, the chief operating officer now directly owns 235,960 shares of the company’s stock, valued at $4,730,998. The trade was a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Penguin Solutions Trading Up 2.5 %

NASDAQ PENG traded up $0.51 during trading hours on Wednesday, hitting $20.57. 524,776 shares of the stock were exchanged, compared to its average volume of 1,037,165. The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $1.10 billion, a P/E ratio of -20.23 and a beta of 1.74. Penguin Solutions has a 12-month low of $14.87 and a 12-month high of $29.81.

Penguin Solutions (NASDAQ:PENG – Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04). Penguin Solutions had a positive return on equity of 8.05% and a negative net margin of 4.48%. The business had revenue of $311.15 million for the quarter, compared to analyst estimates of $325.00 million. Equities research analysts expect that Penguin Solutions will post 1.33 EPS for the current year.

Wall Street Analyst Weigh In

PENG has been the subject of a number of research reports. Barclays reduced their price objective on Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. The Goldman Sachs Group began coverage on shares of Penguin Solutions in a research report on Friday, November 1st. They set a “buy” rating and a $21.00 price objective on the stock. Stifel Nicolaus reduced their target price on shares of Penguin Solutions from $32.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Needham & Company LLC lowered their price target on Penguin Solutions from $35.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, JMP Securities started coverage on Penguin Solutions in a research note on Monday, November 18th. They set an “outperform” rating and a $23.00 price objective for the company. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $23.60.

Get Our Latest Analysis on Penguin Solutions

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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