9,822 Shares in Penguin Solutions, Inc. $PENG Acquired by Tactive Advisors LLC

Tactive Advisors LLC acquired a new stake in shares of Penguin Solutions, Inc. (NASDAQ:PENG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 9,822 shares of the company’s stock, valued at approximately $747,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC grew its position in Penguin Solutions by 187.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock worth $28,000 after acquiring an additional 946 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Penguin Solutions during the 4th quarter valued at $29,000. Raymond James Financial Inc. acquired a new stake in shares of Penguin Solutions in the 2nd quarter valued at $37,000. Advisory Services Network LLC acquired a new stake in shares of Penguin Solutions in the 3rd quarter valued at $50,000. Finally, Torren Management LLC bought a new stake in Penguin Solutions in the fourth quarter worth $48,000.

Insider Activity at Penguin Solutions

In other news, Director Maximiliane C. Straub sold 8,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $45.00, for a total transaction of $360,000.00. Following the transaction, the director owned 58,975 shares in the company, valued at approximately $2,653,875. The trade was a 11.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sandeep Nayyar sold 12,893 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $45.09, for a total transaction of $581,345.37. Following the transaction, the director directly owned 32,524 shares of the company’s stock, valued at $1,466,507.16. This represents a 28.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 54,678 shares of company stock valued at $2,735,664 in the last 90 days. 2.90% of the stock is owned by company insiders.

Penguin Solutions Stock Performance

PENG opened at $58.43 on Friday. Penguin Solutions, Inc. has a 12-month low of $16.04 and a 12-month high of $89.86. The firm has a market capitalization of $2.99 billion, a P/E ratio of 41.44 and a beta of 2.87. The stock’s 50 day moving average price is $63.27 and its two-hundred day moving average price is $39.19. The company has a quick ratio of 1.10, a current ratio of 1.54 and a debt-to-equity ratio of 0.65.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings data 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. Penguin Solutions had a return on equity of 28.23% and a net margin of 6.44%.The company had revenue of $478.71 million during the quarter, compared to analysts’ expectations of $407.47 million. During the same period in the prior year, the business earned $0.52 earnings per share. On average, equities analysts forecast that Penguin Solutions, Inc. will post 2.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PENG shares. Rosenblatt Securities increased their target price on shares of Penguin Solutions from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Stifel Nicolaus upped their price target on Penguin Solutions from $66.00 to $75.00 and gave the stock a “buy” rating 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 on the stock. in a report on Monday, July 20th. Zacks Research raised Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. Finally, Wall Street Zen lowered Penguin Solutions from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 26th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Penguin Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $63.33.

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.