Goldman Sachs Group Inc. Makes New $3.26 Million Investment in Penguin Solutions, Inc. $PENG

Key Points

• Goldman Sachs Group Inc. has acquired a new stake in Penguin Solutions, purchasing 187,630 shares valued at approximately $3.26 million, representing 0.36% ownership in the company.
• Penguin Solutions recently reported earnings of $0.47 per share, exceeding expectations, but fell short on revenue with $324.25 million compared to predictions of $330.82 million.
• Despite some insider selling, analyst ratings remain largely positive, with recent price targets adjusted to between $25.00 and $35.00.

Goldman Sachs Group Inc. purchased a new position in shares of Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 187,630 shares of the company's stock, valued at approximately $3,259,000. Goldman Sachs Group Inc. owned about 0.36% of Penguin Solutions as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Crews Bank & Trust bought a new stake in Penguin Solutions in the first quarter worth about $28,000. IFP Advisors Inc bought a new stake in Penguin Solutions in the first quarter worth about $39,000. CWM LLC bought a new stake in Penguin Solutions in the first quarter worth about $39,000. Virtus Advisers LLC bought a new stake in Penguin Solutions in the first quarter worth about $43,000. Finally, PNC Financial Services Group Inc. bought a new stake in shares of Penguin Solutions in the first quarter valued at approximately $62,000.

Penguin Solutions Stock Down 0.5%

Shares of Penguin Solutions stock traded down $0.13 during trading on Friday, hitting $27.53. The company's stock had a trading volume of 2,771,363 shares, compared to its average volume of 816,647. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.24 and a current ratio of 2.62. The company has a fifty day simple moving average of $24.55 and a two-hundred day simple moving average of $20.54. The company has a market capitalization of $1.44 billion, a PE ratio of -98.32 and a beta of 2.13. Penguin Solutions, Inc. has a 52 week low of $14.20 and a 52 week high of $27.88.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last released its quarterly earnings data on Tuesday, July 8th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.17. The business had revenue of $324.25 million during the quarter, compared to analyst estimates of $330.82 million. Penguin Solutions had a negative net margin of 0.68% and a positive return on equity of 13.27%. Penguin Solutions has set its FY 2025 guidance at 1.750-1.850 EPS. Equities research analysts predict that Penguin Solutions, Inc. will post 1.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. JMP Securities reissued a "market outperform" rating and issued a $26.00 price target on shares of Penguin Solutions in a research report on Wednesday, July 9th. The Goldman Sachs Group boosted their price target on shares of Penguin Solutions from $22.50 to $25.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Zacks Research lowered shares of Penguin Solutions from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Rosenblatt Securities reaffirmed a "buy" rating and set a $27.00 target price on shares of Penguin Solutions in a report on Monday, August 11th. Finally, Needham & Company LLC upped their target price on shares of Penguin Solutions from $27.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $27.13.

Insider Transactions at Penguin Solutions

In related news, Director Penny Herscher sold 2,046 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $25.42, for a total value of $52,009.32. Following the transaction, the director owned 18,222 shares of the company's stock, valued at approximately $463,203.24. This trade represents a 10.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jack A. Pacheco sold 63,447 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $24.83, for a total transaction of $1,575,389.01. Following the completion of the transaction, the executive vice president directly owned 227,231 shares in the company, valued at approximately $5,642,145.73. The trade was a 21.83% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,175 shares of company stock worth $1,644,448. Insiders own 2.60% of the company's stock.

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.