Insider Selling: Penguin Solutions (NASDAQ:PENG) COO Sells $137,006.85 in Stock

Penguin Solutions (NASDAQ:PENG) COO Jack A. Pacheco sold 6,667 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $20.55, for a total value of $137,006.85. Following the completion of the sale, the chief operating officer now directly owns 231,548 shares in the company, valued at approximately $4,758,311.40. This represents a 2.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Penguin Solutions Price Performance

PENG opened at $20.62 on Friday. 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 fifty-two week low of $14.87 and a fifty-two week high of $29.81. The stock’s 50 day simple moving average is $19.31.

Wall Street Analysts Forecast Growth

PENG has been the topic of several research analyst reports. Stifel Nicolaus reduced their price objective on Penguin Solutions from $32.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Barclays raised their price target on shares of Penguin Solutions from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, January 9th. Rosenblatt Securities reiterated a “buy” rating and set a $27.00 price objective on shares of Penguin Solutions in a research report on Thursday, December 19th. Loop Capital began coverage on shares of Penguin Solutions in a research report on Tuesday, January 7th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, JMP Securities initiated coverage on shares of Penguin Solutions in a report on Monday, November 18th. They set an “outperform” rating and a $23.00 price target for the company. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Penguin Solutions presently has an average rating of “Buy” and a consensus 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.