SG Americas Securities LLC Decreases Position in Penguin Solutions, Inc. $PENG

SG Americas Securities LLC trimmed its position in Penguin Solutions, Inc. (NASDAQ:PENG) by 92.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,859 shares of the company’s stock after selling 87,912 shares during the period. SG Americas Securities LLC’s holdings in Penguin Solutions were worth $121,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PENG. Farther Finance Advisors LLC boosted its stake in shares of 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 during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Penguin Solutions during the fourth quarter worth approximately $29,000. Allworth Financial LP raised its stake in Penguin Solutions by 41.4% in the 3rd quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock valued at $47,000 after purchasing an additional 525 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Penguin Solutions in the 2nd quarter valued at $37,000. Finally, Advisory Services Network LLC purchased a new position in Penguin Solutions in the 3rd quarter valued at $50,000.

Insider Activity

In related news, Director Maximiliane C. Straub sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $49.00, for a total value of $147,000.00. Following the transaction, the director directly owned 51,975 shares in the company, valued at approximately $2,546,775. This represents a 5.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sandeep Nayyar sold 7,107 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $43.48, for a total value of $309,012.36. Following the completion of the transaction, the director owned 25,417 shares in the company, valued at $1,105,131.16. This represents a 21.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 70,574 shares of company stock worth $3,203,822. Corporate insiders own 2.90% of the company’s stock.

Penguin Solutions Trading Down 1.5%

Shares of PENG stock opened at $77.21 on Tuesday. 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 twelve month low of $16.04 and a twelve month high of $89.86. The company’s 50-day moving average price is $59.59 and its 200-day moving average price is $34.33. The stock has a market cap of $3.96 billion, a price-to-earnings ratio of 54.76 and a beta of 2.83.

Penguin Solutions (NASDAQ:PENG) last released its quarterly earnings data on Tuesday, July 7th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.21. Penguin Solutions had a net margin of 6.44% and a return on equity of 28.23%. The firm had revenue of $478.71 million during the quarter, compared to analysts’ expectations of $407.47 million. During the same period last year, the business earned $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.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PENG. 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. Stifel Nicolaus increased their target price 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. Barclays raised their price target on shares of Penguin Solutions from $27.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Rosenblatt Securities boosted their price target 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. Finally, Zacks Research raised shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Penguin Solutions currently has an average rating of “Moderate Buy” and an average target price of $57.71.

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.