Cubist Systematic Strategies LLC Makes New $803,000 Investment in Penguin Solutions, Inc. $PENG

Key Points

• Cubist Systematic Strategies LLC purchased 46,240 shares of Penguin Solutions, Inc. valued at approximately $803,000, representing 0.09% of the company's stock.
• Penguin Solutions reported a quarterly EPS of $0.47, exceeding analysts' expectations of $0.30, with revenues of $324.25 million against a consensus estimate of $330.82 million.
• Brokerages have set varying price targets for Penguin Solutions, with Loop Capital raising its price objective from $30.00 to $35.00 and maintaining a "buy" rating.

Cubist Systematic Strategies LLC purchased a new stake in shares of Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 46,240 shares of the company's stock, valued at approximately $803,000. Cubist Systematic Strategies LLC owned about 0.09% of Penguin Solutions as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada bought a new stake in Penguin Solutions during the 1st quarter valued at $7,250,000. Paradigm Capital Management Inc. NY bought a new stake in Penguin Solutions during the 1st quarter valued at $19,545,000. Nomura Holdings Inc. bought a new stake in Penguin Solutions during the 1st quarter valued at $4,208,000. Truvestments Capital LLC bought a new stake in Penguin Solutions during the 1st quarter valued at $353,000. Finally, Corebridge Financial Inc. bought a new stake in Penguin Solutions during the 1st quarter valued at $473,000.

Insider Buying and Selling

In other Penguin Solutions news, EVP Jack A. Pacheco sold 63,447 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $24.83, for a total transaction of $1,575,389.01. Following the sale, the executive vice president owned 227,231 shares in the company, valued at approximately $5,642,145.73. This trade represents a 21.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Penny Herscher sold 2,046 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $25.42, for a total transaction of $52,009.32. Following the sale, the director owned 18,222 shares in the company, valued at approximately $463,203.24. The trade was a 10.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,175 shares of company stock worth $1,644,448. 2.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PENG. JPMorgan Chase & Co. upped their price target on shares of Penguin Solutions from $21.00 to $24.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Loop Capital upped their target price on shares of Penguin Solutions from $30.00 to $35.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. JMP Securities reaffirmed a "market outperform" rating and issued a $26.00 target price on shares of Penguin Solutions in a research report on Wednesday, July 9th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $27.00 target price on shares of Penguin Solutions in a research report on Monday, August 11th. Finally, Wall Street Zen downgraded shares of Penguin Solutions from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $27.13.

Penguin Solutions Stock Performance

Shares of PENG traded down $0.11 during mid-day trading on Friday, hitting $26.04. 625,290 shares of the company traded hands, compared to its average volume of 767,971. 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 stock has a 50-day moving average price of $24.14 and a two-hundred day moving average price of $20.28. Penguin Solutions, Inc. has a 1 year low of $14.20 and a 1 year high of $26.53. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -93.00 and a beta of 2.13.

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

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.