Evolve Private Wealth LLC Acquires New Position in Penguin Solutions, Inc. $PENG

Evolve Private Wealth LLC bought a new position in Penguin Solutions, Inc. (NASDAQ:PENG) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 15,931 shares of the company’s stock, valued at approximately $1,211,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC purchased a new stake in shares of Penguin Solutions in the 2nd quarter valued at $26,000. Allworth Financial LP purchased a new position in Penguin Solutions in the 2nd quarter worth $37,000. Meeder Asset Management Inc. purchased a new position in Penguin Solutions in the 2nd quarter worth $92,000. Farther Finance Advisors LLC lifted 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 purchasing an additional 946 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in Penguin Solutions in the fourth quarter worth $29,000.

Penguin Solutions Price Performance

Shares of NASDAQ:PENG opened at $52.62 on Monday. The stock’s 50-day moving average is $61.83 and its 200 day moving average is $41.97. The company has a market cap of $2.70 billion, a PE ratio of 37.32 and a beta of 2.87. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.54 and a quick ratio of 1.10. Penguin Solutions, Inc. has a 1 year low of $16.04 and a 1 year high of $89.86.

Penguin Solutions (NASDAQ:PENG) last released its quarterly earnings data on Tuesday, July 7th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.21. The business had revenue of $478.71 million during the quarter, compared to analysts’ expectations 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 business posted $0.52 EPS. Sell-side analysts anticipate that Penguin Solutions, Inc. will post 2.08 EPS for the current year.

Insiders Place Their Bets

In other Penguin Solutions news, SVP Anne Kuykendall sold 4,000 shares of the company’s 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 completion of the transaction, the senior vice president directly owned 120,794 shares in the company, valued at approximately $7,776,717.72. This represents a 3.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joseph Gates Clark sold 1,327 shares of the firm’s stock in a transaction dated Thursday, July 23rd. The stock was 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 directly owned 63,056 shares of the company’s stock, valued at approximately $3,623,828.32. This represents a 2.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 19,678 shares of company stock valued at $1,160,946 in the last ninety days. 2.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PENG. Wall Street Zen cut Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Zacks Research raised Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. Stifel Nicolaus increased their target price on Penguin Solutions from $66.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Weiss Ratings upgraded Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 8th. Finally, Citizens Jmp boosted their price objective on Penguin Solutions from $65.00 to $85.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Penguin Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $63.33.

Penguin Solutions Company 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.