Maximiliane Straub Sells 3,000 Shares of Penguin Solutions (NASDAQ:PENG) Stock

Penguin Solutions, Inc. (NASDAQ:PENG) Director Maximiliane Straub sold 3,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $49.00, for a total value of $147,000.00. Following the transaction, the director directly owned 51,975 shares in the company, valued at approximately $2,546,775. The trade was a 5.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Penguin Solutions Stock Up 1.2%

PENG stock opened at $46.27 on Wednesday. Penguin Solutions, Inc. has a fifty-two week low of $16.04 and a fifty-two week high of $53.27. The business’s 50-day moving average is $26.80 and its two-hundred day moving average is $22.37. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.55 and a current ratio of 2.10. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 64.26 and a beta of 2.66.

Penguin Solutions (NASDAQ:PENG) last posted its earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share for the quarter, beating 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 company had revenue of $343.00 million for the quarter, compared to the consensus estimate of $339.00 million. As a group, analysts forecast that Penguin Solutions, Inc. will post 1.66 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue boosted its stake in Penguin Solutions by 98.3% in the 4th quarter. State of Alaska Department of Revenue now owns 47,576 shares of the company’s stock worth $930,000 after purchasing an additional 23,582 shares during the period. Kennedy Capital Management LLC boosted its stake in Penguin Solutions by 31.9% in the 3rd quarter. Kennedy Capital Management LLC now owns 992,168 shares of the company’s stock worth $26,074,000 after purchasing an additional 240,159 shares during the period. Barclays PLC boosted its stake in Penguin Solutions by 46.9% in the 3rd quarter. Barclays PLC now owns 1,055,189 shares of the company’s stock worth $27,730,000 after purchasing an additional 336,644 shares during the period. American Century Companies Inc. boosted its stake in Penguin Solutions by 35.3% in the 3rd quarter. American Century Companies Inc. now owns 1,294,279 shares of the company’s stock worth $34,014,000 after purchasing an additional 337,564 shares during the period. Finally, LSV Asset Management boosted its stake in Penguin Solutions by 337.6% in the 3rd quarter. LSV Asset Management now owns 569,368 shares of the company’s stock worth $14,963,000 after purchasing an additional 439,268 shares during the period.

Analyst Ratings Changes

A number of research firms have weighed in on PENG. Needham & Company LLC increased their target price on Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Rosenblatt Securities reissued a “buy” rating and issued a $30.00 target price on shares of Penguin Solutions in a report on Monday, March 30th. Zacks Research raised Penguin Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. Stifel Nicolaus lowered their target price on Penguin Solutions from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Finally, Wall Street Zen raised Penguin Solutions from a “hold” rating to a “buy” rating in a research note on Sunday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $27.25.

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.