Insider Selling: Penguin Solutions (NASDAQ:PENG) SVP Sells 2,131 Shares of Stock

Penguin Solutions (NASDAQ:PENG) SVP Joseph Gates Clark sold 2,131 shares of Penguin Solutions stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $20.94, for a total value of $44,623.14. Following the transaction, the senior vice president now owns 89,469 shares of the company’s stock, valued at $1,873,480.86. The trade was a 2.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 Stock Performance

PENG opened at $19.13 on Wednesday. Penguin Solutions has a one year low of $14.87 and a one year high of $29.81. The firm has a market capitalization of $1.02 billion, a PE ratio of -36.79 and a beta of 1.69. The firm has a 50 day simple moving average of $19.39. The company has a quick ratio of 1.75, a current ratio of 2.33 and a debt-to-equity ratio of 1.61.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Stifel Nicolaus cut their price target 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. Rosenblatt Securities restated a “buy” rating and issued a $27.00 price target on shares of Penguin Solutions in a research note on Thursday, December 19th. JMP Securities began coverage on Penguin Solutions in a research note on Monday, November 18th. They issued an “outperform” rating and a $23.00 price target for the company. Barclays lifted their price objective on Penguin Solutions from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. Finally, Loop Capital began coverage on Penguin Solutions in a report on Tuesday, January 7th. They issued a “buy” rating and a $30.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $25.43.

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.