Penguin Solutions (NASDAQ:PENG) EVP Sells $64,380.00 in Stock

Penguin Solutions (NASDAQ:PENG) EVP Jack A. Pacheco sold 3,219 shares of Penguin Solutions stock in a transaction on Monday, March 24th. The shares were sold at an average price of $20.00, for a total value of $64,380.00. Following the sale, the executive vice president now directly owns 231,548 shares of the company’s stock, valued at approximately $4,630,960. The trade was a 1.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Penguin Solutions Stock Down 4.3 %

Shares of NASDAQ:PENG opened at $17.46 on Friday. The company has a market cap of $930.46 million, a P/E ratio of -33.58 and a beta of 1.70. The firm’s 50 day simple moving average is $19.74. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.75 and a current ratio of 2.33. Penguin Solutions has a twelve month low of $14.87 and a twelve month high of $22.67.

Wall Street Analyst Weigh In

Several brokerages recently commented on PENG. Barclays boosted their price target on Penguin Solutions from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, January 9th. Loop Capital initiated coverage on shares of Penguin Solutions in a research note on Tuesday, January 7th. They set a “buy” rating and a $30.00 price target on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $27.00 price target on shares of Penguin Solutions in a research report on Thursday, December 19th. Finally, Needham & Company LLC increased their price objective on Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, January 9th. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average 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.