11,792 Shares in Penguin Solutions, Inc. $PENG Acquired by FourThought Financial Partners LLC

FourThought Financial Partners LLC purchased a new position in Penguin Solutions, Inc. (NASDAQ:PENG) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 11,792 shares of the company’s stock, valued at approximately $231,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Allworth Financial LP increased its holdings in 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 buying an additional 525 shares during the period. Osaic Holdings Inc. increased its holdings in Penguin Solutions by 20.8% in the 2nd quarter. Osaic Holdings Inc. now owns 3,583 shares of the company’s stock worth $71,000 after buying an additional 617 shares during the period. Covestor Ltd grew its stake in shares of Penguin Solutions by 4.7% during the 4th quarter. Covestor Ltd now owns 15,535 shares of the company’s stock worth $304,000 after purchasing an additional 695 shares during the period. M&T Bank Corp grew its stake in shares of Penguin Solutions by 7.0% during the 4th quarter. M&T Bank Corp now owns 10,851 shares of the company’s stock worth $212,000 after purchasing an additional 706 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in shares of Penguin Solutions by 187.0% during the 4th quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock worth $28,000 after purchasing an additional 946 shares during the period.

Insiders Place Their Bets

In other news, SVP Joseph Gates Clark sold 12,546 shares of the stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $22.55, for a total transaction of $282,912.30. Following the transaction, the senior vice president owned 99,726 shares in the company, valued at $2,248,821.30. This trade represents a 11.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sandeep Nayyar sold 12,893 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $45.09, for a total value of $581,345.37. Following the transaction, the director owned 32,524 shares in the company, valued at $1,466,507.16. This trade represents a 28.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 68,769 shares of company stock worth $2,473,051. Corporate insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PENG. Wall Street Zen raised shares of Penguin Solutions from a “hold” rating to a “buy” rating in a research note on Sunday, May 17th. Stifel Nicolaus dropped their price objective on shares of Penguin Solutions from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Zacks Research raised shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $30.00 price objective on shares of Penguin Solutions in a research note on Monday, March 30th. Finally, Weiss Ratings cut shares of Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.25.

Penguin Solutions Price Performance

Shares of NASDAQ PENG opened at $53.21 on Friday. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 73.90 and a beta of 2.66. Penguin Solutions, Inc. has a 12 month low of $16.04 and a 12 month high of $54.28. The firm’s 50 day simple moving average is $28.69 and its 200-day simple moving average is $22.94. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.10 and a quick ratio of 1.55.

Penguin Solutions (NASDAQ:PENG) last announced its earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. Penguin Solutions had a return on equity of 19.94% and a net margin of 4.07%.The firm had revenue of $343.00 million for the quarter, compared to analyst estimates of $339.00 million. Analysts expect that Penguin Solutions, Inc. will post 1.66 EPS for the current year.

About Penguin Solutions

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.