Penguin Solutions (NASDAQ:PENG) SVP Sells $44,623.14 in Stock

Penguin Solutions (NASDAQ:PENG) SVP Joseph Gates Clark sold 2,131 shares of Penguin Solutions stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $20.94, for a total transaction of $44,623.14. Following the completion of the sale, the senior vice president now directly owns 89,469 shares of the company’s stock, valued at approximately $1,873,480.86. This trade represents a 2.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Joseph Gates Clark also recently made the following trade(s):

• On Thursday, November 14th, Joseph Gates Clark sold 2,264 shares of Penguin Solutions stock. The shares were sold at an average price of $17.50, for a total value of $39,620.00.

Penguin Solutions Price Performance

Shares of NASDAQ PENG traded down $1.76 during mid-day trading on Monday, reaching $18.86. The company’s stock had a trading volume of 1,853,216 shares, compared to its average volume of 1,127,263. The firm’s fifty day simple moving average is $19.35. The company has a market cap of $1.01 billion, a price-to-earnings ratio of -36.27 and a beta of 1.69. Penguin Solutions has a 52 week low of $14.87 and a 52 week high of $29.81. The company has a quick ratio of 1.75, a current ratio of 2.33 and a debt-to-equity ratio of 1.61.

Analysts Set New Price Targets

PENG has been the subject of a number of research reports. Stifel Nicolaus reduced their price objective on Penguin Solutions from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Citizens Jmp raised shares of Penguin Solutions to a “strong-buy” rating in a research report on Monday, November 18th. The Goldman Sachs Group started coverage on shares of Penguin Solutions in a report on Friday, November 1st. They set a “buy” rating and a $21.00 target price for the company. Barclays lifted their target price on Penguin Solutions from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Penguin Solutions in a research note on Thursday, December 19th. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Penguin Solutions currently has a consensus rating of “Buy” and a consensus target price of $25.43.

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.