Tactive Advisors LLC Invests $747,000 in Penguin Solutions, Inc. $PENG

Tactive Advisors LLC acquired a new stake in shares of Penguin Solutions, Inc. (NASDAQ:PENG) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,822 shares of the company’s stock, valued at approximately $747,000.

A number of other large investors have also modified their holdings of PENG. FNY Investment Advisers LLC acquired a new stake in Penguin Solutions during the second quarter worth $714,000. Central Pacific Bank Trust Division increased its holdings in Penguin Solutions by 31.7% in the 2nd quarter. Central Pacific Bank Trust Division now owns 18,976 shares of the company’s stock valued at $1,442,000 after buying an additional 4,567 shares during the period. Pacer Advisors Inc. raised its stake in shares of Penguin Solutions by 34.0% in the 1st quarter. Pacer Advisors Inc. now owns 261,776 shares of the company’s stock valued at $4,607,000 after buying an additional 66,460 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Penguin Solutions by 52.8% in the 1st quarter. California State Teachers Retirement System now owns 74,580 shares of the company’s stock valued at $1,313,000 after buying an additional 25,763 shares in the last quarter. Finally, Maverick Capital Ltd. bought a new position in shares of Penguin Solutions during the 1st quarter worth about $771,000.

Analysts Set New Price Targets

PENG has been the topic of several recent research reports. Barclays lowered shares of Penguin Solutions from an “equal weight” rating to an “underweight” rating and set a $40.00 target price on the stock. in a research report on Monday, July 20th. Wall Street Zen cut shares of Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Rosenblatt Securities lifted their price objective on Penguin Solutions from $65.00 to $75.00 and gave the company a “buy” rating in a report on Monday, July 6th. Citigroup reaffirmed an “outperform” rating on shares of Penguin Solutions in a report on Wednesday, July 8th. Finally, Zacks Research upgraded Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.33.

Insider Activity at Penguin Solutions

In other news, SVP Joseph Gates Clark sold 10,351 shares of Penguin Solutions stock in a transaction 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 of the company’s stock, valued at approximately $3,910,439.75. This trade represents a 13.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 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 sale, the senior vice president owned 120,794 shares of the company’s stock, valued at approximately $7,776,717.72. The trade was a 3.21% 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. Over the last 90 days, insiders have sold 54,678 shares of company stock worth $2,735,664. Company insiders own 2.90% of the company’s stock.

Penguin Solutions Stock Up 3.9%

Shares of NASDAQ:PENG opened at $58.43 on Friday. 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 firm has a market cap of $2.99 billion, a P/E ratio of 41.44 and a beta of 2.87. Penguin Solutions, Inc. has a 12 month low of $16.04 and a 12 month high of $89.86. The company’s 50-day moving average price is $63.27 and its two-hundred day moving average price is $39.19.

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

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.