71,384 Shares in Penguin Solutions, Inc. $PENG Acquired by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC acquired 71,384 shares of Penguin Solutions during the second quarter, valued at approximately $5.43 million and representing about 0.14% of the company.
• Analyst sentiment is largely positive: Penguin Solutions has a consensus “Moderate Buy” rating and a $63.33 price target, with several firms recently raising targets to between $75 and $80.
• Penguin Solutions exceeded quarterly expectations, reporting $0.84 EPS versus $0.63 expected and revenue of $478.71 million versus the $407.47 million consensus estimate; insiders have sold 9,327 shares worth about $536,103 over the past three months.

Jupiter Topco LLC acquired a new position in Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 71,384 shares of the company's stock, valued at approximately $5,426,000. Jupiter Topco LLC owned approximately 0.14% of Penguin Solutions as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Global Retirement Partners LLC bought a new stake in shares of Penguin Solutions in the 2nd quarter worth approximately $26,000. Farther Finance Advisors LLC lifted its position in Penguin Solutions by 187.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company's stock valued at $28,000 after buying an additional 946 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of Penguin Solutions during the 4th quarter valued at $29,000. Allworth Financial LP bought a new stake in shares of Penguin Solutions during the 2nd quarter valued at $37,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Penguin Solutions during the 2nd quarter valued at $37,000.

Wall Street Analyst Weigh In

PENG has been the subject of a number of research analyst reports. Zacks Research upgraded shares of Penguin Solutions from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 30th. Rosenblatt Securities increased their price objective on shares of Penguin Solutions from $65.00 to $75.00 and gave the company a "buy" rating in a research report on Monday, July 6th. Needham & Company LLC raised their target price on shares of Penguin Solutions from $60.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. Weiss Ratings raised shares of Penguin Solutions from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, July 8th. Finally, Stifel Nicolaus boosted their target price on shares of Penguin Solutions from $66.00 to $75.00 and gave the company a "buy" rating in a research note 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 given a Sell rating to the company. According to MarketBeat.com, Penguin Solutions has a consensus rating of "Moderate Buy" and a consensus price target of $63.33.

Insider Activity at Penguin Solutions

In related news, SVP Joseph Gates Clark sold 1,327 shares of the stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $57.47, for a total transaction of $76,262.69. Following the sale, the senior vice president owned 63,056 shares in the company, valued at approximately $3,623,828.32. This represents a 2.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Anne Kuykendall sold 4,000 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $64.38, for a total transaction of $257,520.00. Following the completion of the sale, the senior vice president owned 120,794 shares of the company's stock, valued at $7,776,717.72. This trade represents a 3.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 9,327 shares of company stock worth $536,103. Corporate insiders own 2.90% of the company's stock.

Penguin Solutions Stock Performance

NASDAQ PENG opened at $49.08 on Tuesday. The stock has a market capitalization of $2.51 billion, a PE ratio of 34.81 and a beta of 2.87. The business has a 50 day simple moving average of $60.19 and a two-hundred day simple moving average of $43.34. 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 - Get Free Report) last issued its quarterly earnings data on Tuesday, July 7th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.21. The business had revenue of $478.71 million for 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 period in the prior year, the firm earned $0.52 EPS. On average, research analysts predict that Penguin Solutions, Inc. will post 2.08 EPS for the current fiscal 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.

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