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

Penguin Solutions, Inc. (NASDAQ:PENG) Director Maximiliane Straub sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $44.34, for a total transaction of $177,360.00. Following the transaction, the director directly owned 54,975 shares of the company’s stock, valued at $2,437,591.50. This represents a 6.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Penguin Solutions Price Performance

Shares of PENG opened at $49.44 on Friday. The stock has a market capitalization of $2.51 billion, a P/E ratio of 68.67 and a beta of 2.66. Penguin Solutions, Inc. has a twelve month low of $16.04 and a twelve month high of $53.27. The company has a 50 day moving average of $25.16 and a 200-day moving average of $21.87. The company has a quick ratio of 1.55, a current ratio of 2.10 and a debt-to-equity ratio of 1.09.

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 the consensus estimate of $0.43 by $0.09. The company had revenue of $343.00 million during the quarter, compared to analysts’ expectations of $339.00 million. Penguin Solutions had a net margin of 4.07% and a return on equity of 19.94%. As a group, equities research analysts forecast that Penguin Solutions, Inc. will post 1.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Penguin Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Paradigm Capital Management Inc. NY grew its stake in shares of Penguin Solutions by 73.8% in the first quarter. Paradigm Capital Management Inc. NY now owns 1,605,100 shares of the company’s stock valued at $28,250,000 after buying an additional 681,700 shares in the last quarter. Inceptionr LLC acquired a new stake in Penguin Solutions during the 1st quarter valued at $339,000. Sei Investments Co. lifted its holdings in Penguin Solutions by 21.9% during the 1st quarter. Sei Investments Co. now owns 173,981 shares of the company’s stock valued at $3,062,000 after purchasing an additional 31,212 shares during the last quarter. Lido Advisors LLC lifted its holdings in Penguin Solutions by 23.2% during the 1st quarter. Lido Advisors LLC now owns 14,943 shares of the company’s stock valued at $263,000 after purchasing an additional 2,817 shares during the last quarter. Finally, State of Wyoming acquired a new stake in Penguin Solutions during the 1st quarter valued at $81,000.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PENG. Needham & Company LLC raised their price target on shares of Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Stifel Nicolaus decreased their target price 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 cut shares of Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday. Barclays cut shares of Penguin Solutions from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $23.00 to $27.00 in a research note on Wednesday, April 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $30.00 target price 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, Penguin Solutions currently has an average rating of “Moderate Buy” and an average target price of $27.25.

Penguin Solutions Company Profile

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.