Penguin Solutions svp Joseph Clark sells $44,770 of company stock

Joseph Gates Clark, SVP and Pres, Optimized LED at Penguin Solutions, Inc. (NASDAQ:PENG), sold 869 shares of the company’s common stock on October 23, 2026. The transactions totaled $44,770, with shares sold at a price of $51.52 each.

The sale was executed pursuant to a Rule 10b5-1 trading plan, which was previously established by Mr. Clark on November 11, 2025. Following these transactions, Mr. Clark beneficially owns 85,853 shares of Penguin Solutions common stock. The stock has surged since the sale, currently trading at $54.92, reflecting a remarkable 180% year-to-date gain. According to InvestingPro analysis, the stock remains close to its Fair Value, with the platform’s comprehensive Pro Research Report—available for PENG and 1,400+ other US equities—offering deeper insights into the company’s strong momentum and analyst outlook.

In other recent news, Penguin Solutions reported fiscal fourth-quarter results that surpassed Wall Street expectations, with adjusted earnings of $1.00 per share on revenue of $567 million. These figures exceeded analyst forecasts of 77 cents per share and $519.9 million in revenue, highlighting a strong performance in both profit and sales. The company also raised its guidance for the new fiscal year, projecting total revenue between $2,250.9 million and $2,597.2 million, which marks a 40% increase year-over-year at the midpoint. Analysts from Stifel raised their price target for Penguin Solutions to $85, citing strong results in the Memory and Computing segments that exceeded prior estimates. Rosenblatt also increased its price target to $100, maintaining a Buy rating, as they anticipate significant growth in the Advanced Computing and Memory segments. BofA Securities initiated coverage on Penguin Solutions with a Buy rating and a price target of $100, based on projected earnings growth through 2028. Additionally, Citizens reiterated a Market Outperform rating, aligning with the company’s raised revenue guidance. These recent developments reflect a positive outlook from analysts regarding Penguin Solutions’ performance and growth potential.