Joseph Gates Clark Sells 2,131 Shares of Penguin Solutions (NASDAQ:PENG) Stock

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

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 Price Performance

Shares of PENG stock opened at $19.13 on Wednesday. The stock has a fifty day moving average price of $19.39. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -36.79 and a beta of 1.69. Penguin Solutions has a 1 year low of $14.87 and a 1 year high of $29.81. The company has a debt-to-equity ratio of 1.61, a current ratio of 2.33 and a quick ratio of 1.75.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PENG shares. Needham & Company LLC raised their price objective on Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, January 9th. Citizens Jmp raised Penguin Solutions to a “strong-buy” rating in a research report on Monday, November 18th. JMP Securities started coverage on Penguin Solutions in a research report on Monday, November 18th. They issued an “outperform” rating and a $23.00 price objective for the company. Loop Capital started coverage on Penguin Solutions in a research report on Tuesday, January 7th. They issued a “buy” rating and a $30.00 price objective for the company. Finally, Barclays raised 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. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently 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.