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 that occurred 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 completion of 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 sale was disclosed in a filing with the SEC, which can be accessed through this link.

Penguin Solutions Price Performance

Shares of PENG opened at $18.25 on Friday. The company has a market cap of $972.56 million, a P/E ratio of -35.10 and a beta of 1.70. The company has a quick ratio of 1.75, a current ratio of 2.33 and a debt-to-equity ratio of 1.61. Penguin Solutions has a one year low of $14.87 and a one year high of $22.67. The stock has a fifty day moving average price of $19.80.

Analysts Set New Price Targets

A number of analysts have issued reports on PENG shares. Needham & Company LLC lifted their target price on shares of Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, January 9th. Barclays lifted their price objective 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. Loop Capital initiated coverage on shares of Penguin Solutions in a report on Tuesday, January 7th. They issued a “buy” rating and a $30.00 price objective for the company. Finally, Rosenblatt Securities restated a “buy” rating and set a $27.00 target price on shares of Penguin Solutions in a report on Thursday, December 19th. Six equities 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 MarketBeat, the company presently 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.