Penguin Solutions (NASDAQ:PENG) SVP Sells $44,623.14 in Stock

Penguin Solutions (NASDAQ:PENG) SVP Joseph Gates Clark sold 2,131 shares of the company’s 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 completion of the sale, the senior vice president now owns 89,469 shares in the company, valued at $1,873,480.86. This trade represents a 2.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 stock was sold at an average price of $17.50, for a total value of $39,620.00.

Penguin Solutions Stock Performance

PENG stock opened at $19.30 on Thursday. The business’s 50 day moving average price is $19.44. The firm has a market cap of $1.03 billion, a P/E ratio of -37.12 and a beta of 1.69. The company has a current ratio of 2.33, a quick ratio of 1.75 and a debt-to-equity ratio of 1.61. Penguin Solutions has a fifty-two week low of $14.87 and a fifty-two week high of $29.81.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group started coverage on shares of Penguin Solutions in a research report on Friday, November 1st. They issued a “buy” rating and a $21.00 price target on the stock. Stifel Nicolaus cut their price target on shares of Penguin Solutions from $32.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Needham & Company LLC increased their price target on Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, January 9th. Barclays boosted their price objective on Penguin Solutions from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, January 9th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $27.00 target price on shares of Penguin Solutions in a research note on Thursday, December 19th. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $25.43.

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.