Insider Selling: Penguin Solutions (NASDAQ:PENG) COO Sells 13,334 Shares of Stock

Penguin Solutions (NASDAQ:PENG) COO Jack A. Pacheco sold 13,334 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $20.05, for a total transaction of $267,346.70. Following the sale, the chief operating officer now owns 235,960 shares of the company’s stock, valued at approximately $4,730,998. The trade was a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Penguin Solutions Trading Up 0.5 %

Shares of NASDAQ PENG opened at $19.87 on Friday. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.65 and a quick ratio of 2.19. The firm has a market capitalization of $1.06 billion, a PE ratio of -19.87 and a beta of 1.74. Penguin Solutions has a twelve month low of $14.87 and a twelve month high of $29.81. The company has a fifty day moving average price of $17.44.

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

Analyst Ratings Changes

PENG has been the subject of a number of recent analyst reports. Barclays cut their price target on shares of Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Stifel Nicolaus cut their target price on Penguin Solutions from $32.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Citizens Jmp raised Penguin Solutions to a “strong-buy” rating in a research note on Monday, November 18th. The Goldman Sachs Group began coverage on Penguin Solutions in a research report on Friday, November 1st. They set a “buy” rating and a $21.00 price objective for the company. Finally, Needham & Company LLC decreased their target price on shares of Penguin Solutions from $35.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Penguin Solutions presently has a consensus rating of “Buy” and a consensus 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.