Verdence Capital Advisors LLC Purchases Shares of 10,071 Penguin Solutions, Inc. $PENG

Verdence Capital Advisors LLC purchased a new stake in Penguin Solutions, Inc. (NASDAQ:PENG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,071 shares of the company’s stock, valued at approximately $200,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. bought a new position in Penguin Solutions in the first quarter valued at approximately $111,458,000. Alliancebernstein L.P. bought a new position in Penguin Solutions in the first quarter valued at approximately $28,919,000. Paradigm Capital Management Inc. NY bought a new position in Penguin Solutions in the first quarter valued at approximately $19,545,000. Think Investments LP bought a new stake in shares of Penguin Solutions in the first quarter worth $15,713,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Penguin Solutions in the first quarter worth $14,786,000.

Insider Activity at Penguin Solutions

In other Penguin Solutions news, EVP Jack A. Pacheco sold 63,447 shares of the company’s stock in a transaction on Monday, July 21st. The shares were sold at an average price of $24.83, for a total value of $1,575,389.01. Following the transaction, the executive vice president directly owned 227,231 shares in the company, valued at $5,642,145.73. The trade was a 21.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Penguin Solutions in a research report on Wednesday, October 8th. The Goldman Sachs Group boosted their price objective on shares of Penguin Solutions from $22.50 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Stifel Nicolaus boosted their price objective on shares of Penguin Solutions from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. JMP Securities reissued a “market outperform” rating and issued a $26.00 price objective on shares of Penguin Solutions in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

Penguin Solutions Price Performance

Shares of PENG opened at $22.49 on Friday. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 77.55 and a beta of 2.20. Penguin Solutions, Inc. has a 1-year low of $14.20 and a 1-year high of $29.80. The company’s fifty day simple moving average is $24.99 and its 200 day simple moving average is $21.46. The company has a current ratio of 2.25, a quick ratio of 1.71 and a debt-to-equity ratio of 1.09.

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.