Pacer Advisors Inc. Sells 68,945 Shares of Penguin Solutions, Inc. $PENG

Pacer Advisors Inc. decreased its position in shares of Penguin Solutions, Inc. (NASDAQ:PENG) by 26.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 195,316 shares of the company’s stock after selling 68,945 shares during the quarter. Pacer Advisors Inc. owned 0.37% of Penguin Solutions worth $3,820,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in PENG. Vanguard Group Inc. boosted its stake in Penguin Solutions by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 6,592,564 shares of the company’s stock valued at $173,253,000 after purchasing an additional 25,804 shares during the last quarter. State Street Corp lifted its holdings in shares of Penguin Solutions by 3.2% during the fourth quarter. State Street Corp now owns 2,957,938 shares of the company’s stock valued at $57,857,000 after purchasing an additional 91,805 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Penguin Solutions by 4.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,388,748 shares of the company’s stock valued at $46,726,000 after buying an additional 95,585 shares during the last quarter. Invesco Ltd. boosted its position in shares of Penguin Solutions by 596.8% during the fourth quarter. Invesco Ltd. now owns 1,992,415 shares of the company’s stock valued at $38,972,000 after buying an additional 1,706,482 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Penguin Solutions by 35.3% during the third quarter. American Century Companies Inc. now owns 1,294,279 shares of the company’s stock valued at $34,014,000 after buying an additional 337,564 shares during the last quarter.

Insider Buying and Selling at Penguin Solutions

In other Penguin Solutions news, Director Maximiliane C. Straub sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $49.00, for a total transaction of $147,000.00. Following the completion of the sale, the director directly owned 51,975 shares of the company’s stock, valued at approximately $2,546,775. This represents a 5.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sandeep Nayyar sold 7,107 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $43.48, for a total transaction 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. The trade was a 21.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 83,120 shares of company stock valued at $3,486,734. 2.90% of the stock is owned by corporate insiders.

Penguin Solutions Stock Up 1.2%

Penguin Solutions stock opened at $67.94 on Tuesday. The stock has a market cap of $3.45 billion, a PE ratio of 94.36 and a beta of 2.88. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.55 and a current ratio of 2.10. The stock has a fifty day moving average of $46.95 and a 200 day moving average of $29.19. Penguin Solutions, Inc. has a one year low of $16.04 and a one year high of $77.40.

Penguin Solutions (NASDAQ:PENG) last released its quarterly earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. Penguin Solutions had a return on equity of 19.94% and a net margin of 4.07%.The business had revenue of $343.00 million during the quarter, compared to the consensus estimate of $339.00 million. As a group, sell-side analysts predict that Penguin Solutions, Inc. will post 1.79 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PENG shares. Barclays lowered Penguin Solutions from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $23.00 to $27.00 in a research report on Wednesday, April 22nd. Zacks Research lowered shares of Penguin Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Rosenblatt Securities boosted their price objective on shares of Penguin Solutions from $54.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Weiss Ratings downgraded shares of Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Finally, Stifel Nicolaus raised their target price on shares of Penguin Solutions from $24.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.88.

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.