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 Penguin Solutions stock in a transaction on Monday, June 15th. The stock was sold at an average price of $64.38, for a total value of $257,520.00. Following the completion of the transaction, the senior vice president owned 120,794 shares in the company, valued at $7,776,717.72. The trade was a 3.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 Tuesday, May 26th, Anne Kuykendall sold 4,000 shares of Penguin Solutions stock. The stock was sold at an average price of $54.45, for a total value of $217,800.00.
• On Wednesday, April 22nd, Anne Kuykendall sold 738 shares of Penguin Solutions stock. The stock was sold at an average price of $27.92, for a total value of $20,604.96.

Penguin Solutions Stock Performance

Shares of NASDAQ PENG opened at $59.68 on Thursday. The company has a quick ratio of 1.55, a current ratio of 2.10 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 82.89 and a beta of 2.89. The stock’s fifty day simple moving average is $44.22 and its 200 day simple moving average is $28.20. Penguin Solutions, Inc. has a 52-week low of $16.04 and a 52-week high of $73.24.

Penguin Solutions (NASDAQ:PENG) last issued its earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. Penguin Solutions had a return on equity of 19.94% and a net margin of 4.07%.The business had revenue of $343.00 million for the quarter, compared to analysts’ expectations of $339.00 million. As a group, sell-side analysts forecast that Penguin Solutions, Inc. will post 1.79 earnings per share for the current fiscal year.

Institutional Trading of Penguin Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP lifted its position in shares of Penguin Solutions by 41.4% in the third quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock worth $47,000 after buying an additional 525 shares during the last quarter. Osaic Holdings Inc. lifted its position in shares of Penguin Solutions by 20.8% in the second quarter. Osaic Holdings Inc. now owns 3,583 shares of the company’s stock worth $71,000 after buying an additional 617 shares during the last quarter. Covestor Ltd lifted its position in shares of Penguin Solutions by 4.7% in the fourth quarter. Covestor Ltd now owns 15,535 shares of the company’s stock worth $304,000 after buying an additional 695 shares during the last quarter. M&T Bank Corp lifted its position in shares of Penguin Solutions by 7.0% in the fourth quarter. M&T Bank Corp now owns 10,851 shares of the company’s stock worth $212,000 after buying an additional 706 shares during the last quarter. Finally, Optimize Financial Inc lifted its position in shares of Penguin Solutions by 1.5% in the fourth quarter. Optimize Financial Inc now owns 56,354 shares of the company’s stock worth $1,102,000 after buying an additional 808 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PENG shares. Stifel Nicolaus lifted their price target on Penguin Solutions from $24.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Barclays downgraded Penguin Solutions from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $23.00 to $27.00 in a report on Wednesday, April 22nd. Wall Street Zen upgraded Penguin Solutions from a “hold” rating to a “buy” rating in a report on Sunday, May 17th. Needham & Company LLC lifted their price target on Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Finally, Weiss Ratings downgraded Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.88.

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.