18,100 Shares in Penguin Solutions, Inc. $PENG Purchased by Globeflex Capital L P

Globeflex Capital L P acquired a new position in shares of Penguin Solutions, Inc. (NASDAQ:PENG) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 18,100 shares of the company’s stock, valued at approximately $1,376,000.

Several other institutional investors and hedge funds also recently bought and sold shares of PENG. Royal Bank of Canada acquired a new position in shares of Penguin Solutions in the 1st quarter valued at about $7,250,000. Amundi acquired a new stake in shares of Penguin Solutions during the first quarter worth approximately $373,000. AQR Capital Management LLC acquired a new stake in shares of Penguin Solutions during the first quarter worth approximately $1,076,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Penguin Solutions during the first quarter valued at approximately $538,000. Finally, Goldman Sachs Group Inc. purchased a new position in Penguin Solutions during the first quarter valued at approximately $3,259,000.

Penguin Solutions Stock Down 3.7%

PENG stock opened at $50.68 on Tuesday. 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, Inc. has a 1 year low of $16.04 and a 1 year high of $89.86. The company has a fifty day simple moving average of $61.57 and a 200 day simple moving average of $42.20. The firm has a market cap of $2.60 billion, a PE ratio of 35.94 and a beta of 2.87.

Penguin Solutions (NASDAQ:PENG) last posted its earnings results on Tuesday, July 7th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.63 by $0.21. Penguin Solutions had a net margin of 6.44% and a return on equity of 28.23%. The firm had revenue of $478.71 million for the quarter, compared to the consensus estimate of $407.47 million. During the same period in the prior year, the business posted $0.52 earnings per share. Sell-side analysts anticipate that Penguin Solutions, Inc. will post 2.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PENG. Needham & Company LLC increased their target price on shares of Penguin Solutions from $60.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Citigroup reaffirmed an “outperform” rating on shares of Penguin Solutions in a research note on Wednesday, July 8th. Barclays lowered Penguin Solutions from an “equal weight” rating to an “underweight” rating and set a $40.00 price objective for the company. in a report on Monday, July 20th. Weiss Ratings raised Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 8th. Finally, Stifel Nicolaus boosted their target price on Penguin Solutions from $66.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $63.33.

Insider Transactions at Penguin Solutions

In related news, SVP Joseph Gates Clark sold 10,351 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $58.87, for a total value of $609,363.37. Following the completion of the sale, the senior vice president directly owned 66,425 shares in the company, valued at approximately $3,910,439.75. The trade was a 13.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Anne Kuykendall sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $64.38, for a total value of $257,520.00. Following the completion of the sale, the senior vice president owned 120,794 shares of the company’s stock, valued at approximately $7,776,717.72. This trade represents a 3.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 15,678 shares of company stock worth $943,146. 2.90% of the stock is currently owned by insiders.

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.