Jack A. Pacheco Sells 3,219 Shares of Penguin Solutions (NASDAQ:PENG) Stock

Penguin Solutions (NASDAQ:PENG) EVP Jack A. Pacheco sold 3,219 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $20.00, for a total transaction of $64,380.00. Following the transaction, the executive vice president now directly owns 231,548 shares of the company’s stock, valued at $4,630,960. The trade was a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Penguin Solutions Stock Performance

Shares of NASDAQ:PENG traded down $0.37 during trading hours on Wednesday, hitting $18.94. 471,766 shares of the company’s stock traded hands, compared to its average volume of 882,588. The company’s fifty day simple moving average is $19.86. The stock has a market cap of $1.01 billion, a P/E ratio of -36.42 and a beta of 1.70. 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 52 week low of $14.87 and a 52 week high of $22.67.

Analysts Set New Price Targets

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