9,396 Shares in Penguin Solutions, Inc. $PENG Bought by FNY Investment Advisers LLC

FNY Investment Advisers LLC purchased a new stake in Penguin Solutions, Inc. (NASDAQ:PENG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,396 shares of the company’s stock, valued at approximately $714,000.

Several other large investors have also bought and sold shares of PENG. Dimensional Fund Advisors LP bought a new stake in shares of Penguin Solutions in the 3rd quarter worth $60,264,000. Invesco Ltd. raised its holdings in shares of Penguin Solutions by 596.8% in the fourth quarter. Invesco Ltd. now owns 1,992,415 shares of the company’s stock valued at $38,972,000 after purchasing an additional 1,706,482 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of Penguin Solutions during the fourth quarter valued at about $18,290,000. Ophir Asset Management Pty Ltd lifted its position in shares of Penguin Solutions by 234.3% during the fourth quarter. Ophir Asset Management Pty Ltd now owns 1,211,612 shares of the company’s stock valued at $23,699,000 after purchasing an additional 849,178 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY lifted its position in shares of Penguin Solutions by 73.8% during the first quarter. Paradigm Capital Management Inc. NY now owns 1,605,100 shares of the company’s stock valued at $28,250,000 after purchasing an additional 681,700 shares in the last quarter.

Analyst Ratings Changes

PENG has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 26th. Needham & Company LLC lifted 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. Barclays downgraded Penguin Solutions from an “equal weight” rating to an “underweight” rating and set a $40.00 target price on the stock. in a research note on Monday, July 20th. Citizens Jmp upped their target price on Penguin Solutions from $65.00 to $85.00 and gave the company a “market outperform” rating in a report on Wednesday, July 8th. Finally, Weiss Ratings raised Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 8th. One 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, Penguin Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.33.

Penguin Solutions Price Performance

Shares of NASDAQ:PENG opened at $56.26 on Friday. The firm has a market capitalization of $2.88 billion, a PE ratio of 39.90 and a beta of 2.87. The company has a quick ratio of 1.10, a current ratio of 1.54 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average price of $63.22 and a two-hundred day moving average price of $39.06. Penguin Solutions, Inc. has a twelve month low of $16.04 and a twelve month high of $89.86.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings results on Tuesday, July 7th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.21. The company had revenue of $478.71 million for the quarter, compared to analyst estimates 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 in the previous year, the firm posted $0.52 earnings per share. Equities analysts forecast that Penguin Solutions, Inc. will post 2.08 EPS for the current year.

Insider Buying and Selling at Penguin Solutions

In other Penguin Solutions news, Director Sandeep Nayyar sold 12,893 shares of the business’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 sale, the director owned 32,524 shares of the company’s stock, valued at $1,466,507.16. The trade was a 28.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Joseph Gates Clark sold 10,351 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $58.87, for a total transaction of $609,363.37. Following the sale, the senior vice president directly owned 66,425 shares in the company, valued at $3,910,439.75. The trade was a 13.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 54,678 shares of company stock valued at $2,735,664 over the last 90 days. 2.90% of the stock is currently owned by corporate insiders.

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.