Deutsche Bank AG Takes Position in Penguin Solutions, Inc. (NASDAQ:PENG)

Key Points

• Deutsche Bank AG acquired a new position in Penguin Solutions, purchasing 761,698 shares valued at approximately $13.2 million, which corresponds to about 1.44% ownership of the company.
• Recently, several analysts have upgraded their price targets for Penguin Solutions, with Loop Capital setting a target of $35.00 and Goldman Sachs raising theirs to $25.00, both rating the stock as a "buy."
• Insider selling has occurred, with EVP Jack A. Pacheco selling 63,447 shares at an average price of $24.83, reducing his ownership by 21.83%, while a total of 66,175 shares were sold by insiders over the last 90 days.

Deutsche Bank AG purchased a new stake in shares of Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 761,698 shares of the company's stock, valued at approximately $13,231,000. Deutsche Bank AG owned about 1.44% of Penguin Solutions at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. acquired a new position in shares of Penguin Solutions during the first quarter valued at about $111,458,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Penguin Solutions during the first quarter valued at about $14,786,000. Royce & Associates LP acquired a new position in shares of Penguin Solutions during the first quarter valued at about $14,020,000. Foundry Partners LLC acquired a new position in shares of Penguin Solutions during the first quarter valued at about $11,989,000. Finally, P.A.W. Capital Corp acquired a new position in shares of Penguin Solutions during the first quarter valued at about $7,816,000.

Insider Transactions at Penguin Solutions

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

Analyst Ratings Changes

Several brokerages have recently weighed in on PENG. JMP Securities reiterated a "market outperform" rating and set a $26.00 price objective on shares of Penguin Solutions in a report on Wednesday, July 9th. Loop Capital upped their price objective on shares of Penguin Solutions from $30.00 to $35.00 and gave the company a "buy" rating in a report on Monday, July 14th. JPMorgan Chase & Co. upped their target price on shares of Penguin Solutions from $21.00 to $24.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. 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. Finally, Wall Street Zen lowered shares of Penguin Solutions from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $27.13.

Penguin Solutions Stock Down 1.7%

PENG stock traded down $0.40 during trading on Friday, reaching $23.77. The stock had a trading volume of 576,366 shares, compared to its average volume of 882,968. Penguin Solutions, Inc. has a one year low of $14.20 and a one year high of $25.94. The company has a quick ratio of 2.24, a current ratio of 2.62 and a debt-to-equity ratio of 1.08. The company's 50 day moving average is $22.36 and its two-hundred day moving average is $19.79. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -84.89 and a beta of 2.02.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $324,251 billion during the quarter, compared to the consensus estimate of $330.82 million. Equities research analysts forecast that Penguin Solutions, Inc. will post 1.05 EPS for the current year.

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.