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

Penguin Solutions, Inc. (NASDAQ:PENG) SVP Anne Kuykendall sold 4,000 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $50.58, for a total transaction of $202,320.00. Following the completion of the sale, the senior vice president owned 112,994 shares in the company, valued at $5,715,236.52. The trade was a 3.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 Monday, June 15th, Anne Kuykendall sold 4,000 shares of Penguin Solutions stock. The stock was sold at an average price of $64.38, for a total value of $257,520.00.

Penguin Solutions Trading Up 2.9%

Shares of PENG traded up $1.48 during midday trading on Wednesday, reaching $51.86. The company had a trading volume of 1,340,448 shares, compared to its average volume of 1,817,675. The company has a quick ratio of 1.10, a current ratio of 1.54 and a debt-to-equity ratio of 0.65. The stock has a market cap of $2.66 billion, a PE ratio of 28.15 and a beta of 2.87. The firm has a 50 day simple moving average of $61.21 and a 200-day simple moving average of $42.67. Penguin Solutions, Inc. has a 1-year low of $16.04 and a 1-year high of $89.86.

Penguin Solutions (NASDAQ:PENG) last posted its earnings results on Tuesday, July 7th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.21. The company had revenue of $478.71 million for the quarter, compared to the consensus estimate of $407.47 million. Penguin Solutions had a return on equity of 28.23% and a net margin of 6.44%.During the same quarter in the previous year, the business earned $0.52 earnings per share. Research analysts forecast that Penguin Solutions, Inc. will post 2.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Rosenblatt Securities boosted their target price on Penguin Solutions from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Stifel Nicolaus boosted their price target on Penguin Solutions from $66.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Citigroup reaffirmed an “outperform” rating on shares of Penguin Solutions in a research note on Wednesday, July 8th. Citizens Jmp lifted their target price on Penguin Solutions from $65.00 to $85.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings raised Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PENG. Global Retirement Partners LLC purchased a new stake in shares of Penguin Solutions during the second quarter valued at approximately $26,000. Farther Finance Advisors LLC raised its position in shares of Penguin Solutions by 187.0% in the 4th quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock valued at $28,000 after purchasing an additional 946 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Penguin Solutions during the fourth quarter worth approximately $29,000. Allworth Financial LP bought a new stake in Penguin Solutions in the second quarter valued at about $37,000. Finally, Raymond James Financial Inc. bought a new position in Penguin Solutions during the 2nd quarter worth $37,000.

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.