Wellington Management Group LLP Has $32.89 Million Stock Holdings in Penguin Solutions, Inc. $PENG

Wellington Management Group LLP decreased its holdings in shares of Penguin Solutions, Inc. (NASDAQ:PENG) by 26.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 432,722 shares of the company’s stock after selling 155,029 shares during the period. Wellington Management Group LLP’s holdings in Penguin Solutions were worth $32,891,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Global Retirement Partners LLC bought a new position in shares of Penguin Solutions in the 2nd quarter worth $26,000. Farther Finance Advisors LLC boosted its holdings in Penguin Solutions by 187.0% during 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 during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Penguin Solutions during the 4th quarter worth about $29,000. Allworth Financial LP bought a new stake in shares of Penguin Solutions in the 2nd quarter valued at about $37,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Penguin Solutions in the 2nd quarter valued at approximately $37,000.

Insider Buying and Selling

In related 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joseph Clark sold 1,327 shares of Penguin Solutions stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $57.47, for a total transaction of $76,262.69. Following the completion of the sale, the senior vice president owned 63,056 shares in the company, valued at $3,623,828.32. The trade was a 2.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 9,327 shares of company stock worth $536,103 over the last quarter. 2.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on PENG. Wall Street Zen downgraded shares of Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Citigroup reaffirmed an “outperform” rating on shares of Penguin Solutions in a research note on Wednesday, July 8th. Citizens Jmp boosted their target price on Penguin Solutions from $65.00 to $85.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 8th. Rosenblatt Securities increased their price target on Penguin Solutions from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Finally, Weiss Ratings upgraded Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 8th. One equities research 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $63.33.

Penguin Solutions Stock Performance

Shares of Penguin Solutions stock opened at $51.76 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.54 and a quick ratio of 1.10. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 36.71 and a beta of 2.86. The stock’s 50-day moving average is $58.88 and its 200-day moving average is $44.00. Penguin Solutions, Inc. has a one year low of $16.04 and a one year high of $89.86.

Penguin Solutions (NASDAQ:PENG) last announced its earnings results on Tuesday, July 7th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.21. The business had revenue of $478.71 million for the quarter, compared to analyst estimates of $407.47 million. Penguin Solutions had a return on equity of 28.23% and a net margin of 6.44%.During the same quarter last year, the firm earned $0.52 EPS. Equities analysts predict that Penguin Solutions, Inc. will post 2.08 earnings per share for the current fiscal year.

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.