Penguin Solutions, Inc. $PENG Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its stake in Penguin Solutions, Inc. (NASDAQ:PENG) by 92.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 6,859 shares of the company’s stock after selling 87,912 shares during the period. SG Americas Securities LLC’s holdings in Penguin Solutions were worth $121,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PENG. Farther Finance Advisors LLC boosted its stake in Penguin Solutions by 187.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock worth $28,000 after buying an additional 946 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of Penguin Solutions in the 4th quarter valued at approximately $29,000. Raymond James Financial Inc. acquired a new position in shares of Penguin Solutions in the 2nd quarter worth approximately $37,000. Allworth Financial LP lifted its holdings in shares of Penguin Solutions by 41.4% in the 3rd quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock worth $47,000 after acquiring an additional 525 shares during the last quarter. Finally, Torren Management LLC purchased a new position in shares of Penguin Solutions during the 4th quarter worth approximately $48,000.

Penguin Solutions Stock Down 1.5%

Shares of NASDAQ PENG opened at $77.21 on Tuesday. The stock has a market cap of $3.96 billion, a P/E ratio of 54.76 and a beta of 2.83. The business’s fifty day simple moving average is $59.59 and its 200-day simple moving average is $34.33. Penguin Solutions, Inc. has a 12-month low of $16.04 and a 12-month high of $89.86. The company has a current ratio of 1.54, a quick ratio of 1.10 and a debt-to-equity ratio of 0.65.

Penguin Solutions (NASDAQ:PENG) last issued its earnings results on Tuesday, July 7th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.21. The firm had revenue of $478.71 million for the quarter, compared to analysts’ expectations of $407.47 million. Penguin Solutions had a net margin of 6.44% and a return on equity of 28.23%. During the same quarter last year, the company earned $0.52 earnings per share. As a group, equities analysts predict that Penguin Solutions, Inc. will post 2.08 EPS for the current fiscal year.

Insider Activity at Penguin Solutions

In related news, Director Maximiliane C. Straub sold 8,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the sale, the director directly owned 58,975 shares of the company’s stock, valued at $2,653,875. The trade was a 11.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sandeep Nayyar sold 12,893 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $45.09, for a total transaction of $581,345.37. Following the completion of the transaction, the director owned 32,524 shares of the company’s stock, valued at $1,466,507.16. This represents a 28.39% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 70,574 shares of company stock worth $3,203,822. Corporate insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PENG shares. Rosenblatt Securities lifted their target price on shares of Penguin Solutions from $65.00 to $75.00 and gave the company a “buy” rating in a report on Monday, July 6th. Barclays upped their price target on Penguin Solutions from $27.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Weiss Ratings raised Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 8th. Zacks Research upgraded Penguin Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Finally, Needham & Company LLC increased their target price on Penguin Solutions from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $57.71.

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.