Pacer Advisors Inc. Purchases 66,460 Shares of Penguin Solutions, Inc. $PENG

Pacer Advisors Inc. grew its position in shares of Penguin Solutions, Inc. (NASDAQ:PENG) by 34.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 261,776 shares of the company’s stock after acquiring an additional 66,460 shares during the period. Pacer Advisors Inc.’s holdings in Penguin Solutions were worth $4,607,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada purchased a new position in shares of Penguin Solutions in the 1st quarter valued at approximately $7,250,000. Amundi purchased a new stake in Penguin Solutions in the first quarter worth $373,000. AQR Capital Management LLC purchased a new stake in Penguin Solutions in the first quarter worth $1,076,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Penguin Solutions in the first quarter worth $538,000. Finally, Goldman Sachs Group Inc. bought a new position in Penguin Solutions in the first quarter worth $3,259,000.

Penguin Solutions Stock Up 1.0%

Shares of NASDAQ:PENG opened at $56.26 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.10 and a debt-to-equity ratio of 0.65. The stock has a fifty day simple moving average of $63.22 and a two-hundred day simple moving average of $39.06. Penguin Solutions, Inc. has a 12-month low of $16.04 and a 12-month high of $89.86. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 39.90 and a beta of 2.87.

Penguin Solutions (NASDAQ:PENG) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $407.47 million. Penguin Solutions had a return on equity of 28.23% and a net margin of 6.44%.During the same period last year, the company earned $0.52 earnings per share. On average, research analysts anticipate that Penguin Solutions, Inc. will post 2.08 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Anne Kuykendall sold 4,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $64.38, for a total transaction of $257,520.00. Following the sale, the senior vice president owned 120,794 shares in the company, valued at $7,776,717.72. This represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sandeep Nayyar sold 7,107 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $43.48, for a total transaction of $309,012.36. Following the sale, the director owned 25,417 shares in the company, valued at approximately $1,105,131.16. The trade was a 21.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 54,678 shares of company stock valued at $2,735,664 in the last quarter. 2.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Weiss Ratings raised Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 8th. Citizens Jmp increased their price target on shares of Penguin Solutions from $65.00 to $85.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 8th. Barclays lowered shares of Penguin Solutions from an “equal weight” rating to an “underweight” rating and set a $40.00 price target for the company. in a research note on Monday, July 20th. Zacks Research raised shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. Finally, Needham & Company LLC boosted their price objective on shares of 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 assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.33.

Penguin Solutions 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.