Penguin Solutions (NASDAQ:PENG) Stock: Insider Joseph Gates Clark Sells 869 Shares

Penguin Solutions, Inc. (NASDAQ:PENG) SVP Joseph Clark sold 869 shares of Penguin Solutions stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $51.52, for a total transaction of $44,770.88. Following the transaction, the senior vice president directly owned 85,853 shares of the company’s stock, valued at $4,423,146.56. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Penguin Solutions Stock Performance

NASDAQ:PENG opened at $58.99 on Wednesday. Penguin Solutions, Inc. has a 12 month low of $16.04 and a 12 month high of $89.86. The company’s 50-day moving average price is $56.02 and its two-hundred day moving average price is $43.31.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings data on Tuesday, October 6th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.23. The firm had revenue of $566.68 million for the quarter, compared to analyst estimates of $520.99 million. During the same period in the previous year, the business posted $0.11 EPS. Penguin Solutions has set its FY 2027 guidance at 3.750-5.15 EPS. As a group, analysts forecast that Penguin Solutions, Inc. will post 4.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PENG has been the topic of a number of research analyst reports. Citizens Jmp increased their price target on Penguin Solutions from $65.00 to $85.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 8th. Barclays raised their price target on Penguin Solutions from $40.00 to $60.00 and gave the company an “underweight” rating in a report on Wednesday, October 7th. Rosenblatt Securities lifted their price objective on Penguin Solutions from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 7th. Citigroup reissued an “outperform” rating on shares of Penguin Solutions in a research note on Wednesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft set a $100.00 price objective on Penguin Solutions in a research note on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, seven 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $87.50.

Institutional Investors Weigh In On Penguin Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PENG. Global Retirement Partners LLC acquired a new position in shares of Penguin Solutions during the second quarter worth approximately $26,000. Allworth Financial LP bought a new stake in shares of Penguin Solutions during the second quarter valued at approximately $37,000. Nykredit A S bought a new stake in shares of Penguin Solutions during the second quarter valued at approximately $42,000. Polaris Financial Partners bought a new stake in shares of Penguin Solutions during the third quarter valued at approximately $50,000. Finally, Signaturefd LLC increased its holdings in shares of Penguin Solutions by 25.3% in the third quarter. Signaturefd LLC now owns 1,081 shares of the company’s stock valued at $59,000 after purchasing an additional 218 shares in the last quarter.

About Penguin Solutions

Penguin Solutions, Inc provides technology products and services for data center, cloud, artificial intelligence, high-performance computing, edge computing and embedded applications. The company designs and delivers memory products, computing platforms and integrated infrastructure intended to help organizations manage demanding workloads and deploy specialized technology environments.

Its offerings include memory modules and other memory-related products, high-performance computing systems, servers, storage and networking solutions, and software and services for infrastructure management.