Penguin solutions SVP Anne Kuykendall sells $41,472 in stock By Investing.com

Anne Kuykendall, SVP and Chief Legal Officer at Penguin Solutions, Inc. (), sold 739 shares of the company’s common stock for a total of $41,472 on July 22, 2026. The shares were sold at a price of $56.12 each. This transaction was executed under a Rule 10b5-1 trading plan, which Ms. Kuykendall adopted on November 11, 2025. The sale comes as the stock has declined 18.7% over the past week, though shares remain up 142% over the past year with a current market capitalization of $2.98 billion.

Separately, on July 20, 2026, Ms. Kuykendall also had 3,061 shares of Penguin Solutions common stock withheld by the company to cover tax withholding obligations related to the vesting of restricted stock units. These shares, valued at $60.41 per share, totaled $184,915. The filing explicitly stated that no shares were sold in connection with this specific transaction.

Following these transactions, Ms. Kuykendall directly holds 116,994 shares of Penguin Solutions common stock. According to InvestingPro analysis, the stock currently appears slightly overvalued relative to its Fair Value. Investors seeking deeper insights can access comprehensive Pro Research Reports and 15+ additional ProTips for PENG on the platform.

In other recent news, Penguin Solutions reported fiscal third-quarter results that surpassed expectations, with non-GAAP diluted earnings of $0.84 per share and revenue of $479 million, both exceeding Wall Street forecasts. Analysts had projected earnings per share of $0.56 and revenue of $421.4 million. This strong performance led the company to raise its full-year outlook. Additionally, Penguin Solutions successfully closed a $750 million convertible notes offering, which included a $100 million option exercised by initial purchasers. The notes, due in 2031, carry a 0% coupon and were sold to qualified institutional buyers.

Stifel raised its price target for Penguin Solutions to $75 from $66, maintaining a Buy rating, citing the company’s impressive third-quarter results, particularly in the memory segment. Citizens also increased its price target to $85 from $65, maintaining a Market Outperform rating, driven by higher revenue and adjusted EBITDA estimates. These developments highlight the company’s ongoing growth and strategic financial maneuvers.

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