Jupiter Topco LLC Acquires Shares of 71,384 Penguin Solutions, Inc. $PENG

Jupiter Topco LLC bought a new position in Penguin Solutions, Inc. (NASDAQ:PENG) during the second quarter, HoldingsChannel.com reports. The fund bought 71,384 shares of the company’s stock, valued at approximately $5,426,000.

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

Insider Buying and Selling

In other Penguin Solutions news, SVP Anne Kuykendall sold 4,000 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $50.58, for a total value of $202,320.00. Following the completion of the transaction, the senior vice president owned 112,994 shares of the company’s stock, valued at approximately $5,715,236.52. This trade represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joseph Gates Clark sold 1,327 shares of the company’s stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $57.47, for a total value of $76,262.69. Following the completion of the transaction, the senior vice president directly owned 63,056 shares in the company, valued at approximately $3,623,828.32. The trade was a 2.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 9,327 shares of company stock valued at $536,103 over the last quarter. 2.90% of the stock is owned by company insiders.

Penguin Solutions Trading Down 0.9%

Penguin Solutions stock opened at $49.08 on Tuesday. The stock has a 50-day moving average of $60.19 and a two-hundred day moving average of $43.34. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.10 and a current ratio of 1.54. Penguin Solutions, Inc. has a one year low of $16.04 and a one year high of $89.86. The stock has a market cap of $2.51 billion, a PE ratio of 34.81 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, topping analysts’ consensus estimates of $0.63 by $0.21. Penguin Solutions had a return on equity of 28.23% and a net margin of 6.44%.The business had revenue of $478.71 million for the quarter, compared to analyst estimates of $407.47 million. During the same quarter in the previous year, the firm earned $0.52 earnings per share. On average, research analysts anticipate that Penguin Solutions, Inc. will post 2.08 EPS for the current fiscal year.

Analyst Ratings Changes

PENG has been the subject of several research reports. Citizens Jmp upped their target price on Penguin Solutions from $65.00 to $85.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 8th. Weiss Ratings raised shares of Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 8th. 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 report on Monday, July 6th. 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. Finally, 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 report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Penguin Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $63.33.

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.