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

Penguin Solutions, Inc. (NASDAQ:PENG) SVP Anne Kuykendall sold 4,000 shares of the business’s stock in a transaction on 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 transaction, the senior vice president directly owned 124,794 shares in the company, valued at $6,795,033.30. This trade represents a 3.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 shares were 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 shares were sold at an average price of $17.75, for a total transaction of $71,000.00.

Penguin Solutions Price Performance

Penguin Solutions stock traded down $0.37 during mid-day trading on Thursday, reaching $54.07. 1,699,785 shares of the company’s stock traded hands, compared to its average volume of 1,832,123. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 75.10 and a beta of 2.66. The stock has a 50 day moving average of $30.87 and a two-hundred day moving average of $23.63. 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, Inc. has a 12-month low of $16.04 and a 12-month high of $55.65.

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

Analyst Ratings Changes

PENG has been the topic of a number of recent research reports. Barclays downgraded shares of Penguin Solutions from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $23.00 to $27.00 in a research note on Wednesday, April 22nd. Needham & Company LLC boosted their price objective on shares of Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Stifel Nicolaus cut their price objective on shares of Penguin Solutions from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Zacks Research upgraded shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 7th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $30.00 price objective on shares of Penguin Solutions in a research report on Monday, March 30th. 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.25.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC grew its holdings in shares of Penguin Solutions by 187.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock worth $28,000 after purchasing an additional 946 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of Penguin Solutions in the fourth quarter worth about $29,000. Raymond James Financial Inc. bought a new position in shares of Penguin Solutions in the second quarter worth about $37,000. Strs Ohio bought a new position in shares of Penguin Solutions in the third quarter worth about $42,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of Penguin Solutions by 4,131.7% in the third quarter. Jones Financial Companies Lllp now owns 1,735 shares of the company’s stock worth $45,000 after purchasing an additional 1,694 shares during the last quarter.

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.