Penguin Solutions (NASDAQ:PENG) COO Jack A. Pacheco Sells 13,334 Shares

Penguin Solutions (NASDAQ:PENG) COO Jack A. Pacheco sold 13,334 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $20.05, for a total value of $267,346.70. Following the completion of the transaction, the chief operating officer now directly owns 235,960 shares of the company’s stock, valued at $4,730,998. The trade was a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Penguin Solutions Stock Performance

Shares of NASDAQ:PENG traded up $0.51 during mid-day trading on Wednesday, hitting $20.57. 524,776 shares of the company traded hands, compared to its average volume of 1,037,165. The company has a market cap of $1.10 billion, a P/E ratio of -20.23 and a beta of 1.74. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.19 and a current ratio of 2.65. Penguin Solutions has a 52-week low of $14.87 and a 52-week high of $29.81.

Penguin Solutions (NASDAQ:PENG) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04). The company had revenue of $311.15 million during the quarter, compared to the consensus estimate of $325.00 million. Penguin Solutions had a positive return on equity of 8.05% and a negative net margin of 4.48%. On average, sell-side analysts forecast that Penguin Solutions will post 1.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Barclays cut their price target on Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Needham & Company LLC reduced their price target on shares of Penguin Solutions from $35.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Stifel Nicolaus dropped their price objective on shares of Penguin Solutions from $32.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. JMP Securities assumed coverage on Penguin Solutions in a research note on Monday, November 18th. They issued an “outperform” rating and a $23.00 target price on the stock. Finally, Citizens Jmp raised Penguin Solutions to a “strong-buy” rating in a report on Monday, November 18th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $23.60.

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.