Pacer Advisors Inc. Buys 66,460 Shares of Penguin Solutions, Inc. $PENG

Pacer Advisors Inc. increased its stake in Penguin Solutions, Inc. (NASDAQ:PENG) by 34.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 261,776 shares of the company’s stock after acquiring an additional 66,460 shares during the period. Pacer Advisors Inc. owned about 0.52% of Penguin Solutions worth $4,607,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PENG. Farther Finance Advisors LLC boosted its stake 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 buying an additional 946 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Penguin Solutions during the fourth quarter worth approximately $29,000. Raymond James Financial Inc. purchased a new position in shares of Penguin Solutions during the second quarter worth approximately $37,000. Torren Management LLC bought a new stake in shares of Penguin Solutions in the 4th quarter worth approximately $48,000. Finally, Advisory Services Network LLC bought a new stake in shares of Penguin Solutions in the 3rd quarter worth approximately $50,000.

Insiders Place Their Bets

In related news, SVP Anne Kuykendall sold 4,000 shares of Penguin Solutions stock in a transaction on Monday, June 15th. The shares were 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 in the company, valued at $7,776,717.72. The trade was a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 transaction, the senior vice president directly owned 66,425 shares in the company, valued at approximately $3,910,439.75. The trade was a 13.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 54,678 shares of company stock valued at $2,735,664 over the last three months. 2.90% of the stock is currently owned by corporate insiders.

Penguin Solutions Price Performance

PENG stock opened at $56.26 on Friday. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 39.90 and a beta of 2.87. The firm’s 50-day moving average price is $63.22 and its two-hundred day moving average price is $39.06. The company has a current ratio of 1.54, a quick ratio of 1.10 and a debt-to-equity ratio of 0.65. Penguin Solutions, Inc. has a 12-month low of $16.04 and a 12-month high of $89.86.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Stifel Nicolaus upped their price target on shares of Penguin Solutions from $66.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Citizens Jmp lifted their price objective on Penguin Solutions from $65.00 to $85.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 8th. Wall Street Zen lowered Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Needham & Company LLC increased their target price on Penguin Solutions from $60.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Finally, Weiss Ratings upgraded 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 issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.33.

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.