Penguin Solutions, Inc. $PENG Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group trimmed its stake in Penguin Solutions by 3.6% in the fourth quarter, selling 238,730 shares and ending with 6.35 million shares valued at about $124.3 million.
• Insider selling was also notable, with SVPs Anne Kuykendall and Joseph Gates Clark selling shares recently; insiders have sold 33,769 shares worth $898,333 over the last 90 days.
• Penguin Solutions beat earnings expectations in its latest quarter, reporting $0.52 EPS on revenue of $343 million, while analysts currently rate the stock a Moderate Buy with a consensus price target of $27.25.

Vanguard Group Inc. lowered its holdings in Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,353,834 shares of the company's stock after selling 238,730 shares during the quarter. Vanguard Group Inc. owned 12.09% of Penguin Solutions worth $124,281,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kennedy Capital Management LLC lifted its holdings in Penguin Solutions by 31.9% in the third quarter. Kennedy Capital Management LLC now owns 992,168 shares of the company's stock valued at $26,074,000 after acquiring an additional 240,159 shares during the period. State of Alaska Department of Revenue increased its position in shares of Penguin Solutions by 98.3% in the fourth quarter. State of Alaska Department of Revenue now owns 47,576 shares of the company's stock valued at $930,000 after buying an additional 23,582 shares in the last quarter. Barclays PLC increased its position in shares of Penguin Solutions by 46.9% in the third quarter. Barclays PLC now owns 1,055,189 shares of the company's stock valued at $27,730,000 after buying an additional 336,644 shares in the last quarter. American Century Companies Inc. increased its position in shares of Penguin Solutions by 35.3% in the third quarter. American Century Companies Inc. now owns 1,294,279 shares of the company's stock valued at $34,014,000 after buying an additional 337,564 shares in the last quarter. Finally, LSV Asset Management increased its position in shares of Penguin Solutions by 337.6% in the third quarter. LSV Asset Management now owns 569,368 shares of the company's stock valued at $14,963,000 after buying an additional 439,268 shares in the last quarter.

Insider Activity at Penguin Solutions

In other Penguin Solutions news, SVP Anne Kuykendall sold 4,000 shares of Penguin Solutions stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $17.75, for a total transaction of $71,000.00. Following the sale, the senior vice president directly owned 131,352 shares in the company, valued at $2,331,498. The trade was a 2.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joseph Gates Clark sold 5,000 shares of the business's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $39.99, for a total value of $199,950.00. Following the completion of the sale, the senior vice president owned 76,776 shares of the company's stock, valued at $3,070,272.24. This trade represents a 6.11% 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 have sold a total of 33,769 shares of company stock worth $898,333 over the last 90 days. 2.90% of the stock is owned by company insiders.

Penguin Solutions Trading Up 1.4%

Penguin Solutions stock opened at $44.13 on Wednesday. The stock has a market cap of $2.24 billion, a PE ratio of 61.29 and a beta of 2.66. The stock has a 50-day moving average price of $23.98 and a 200 day moving average price of $21.49. Penguin Solutions, Inc. has a 52 week low of $16.04 and a 52 week high of $46.75. The company has a current ratio of 2.10, a quick ratio of 1.55 and a debt-to-equity ratio of 1.09.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 1st. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.09. The firm had revenue of $343.00 million during the quarter, compared to analysts' expectations of $339.00 million. Penguin Solutions had a return on equity of 19.94% and a net margin of 4.07%. Equities research analysts predict that Penguin Solutions, Inc. will post 1.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PENG shares. Needham & Company LLC raised their price target on Penguin Solutions from $25.00 to $27.00 and gave the company a "buy" rating in a research report on Thursday, April 2nd. Wall Street Zen cut Penguin Solutions from a "buy" rating to a "hold" rating in a research report on Saturday. Rosenblatt Securities restated a "buy" rating and issued a $30.00 price target on shares of Penguin Solutions in a research report on Monday, March 30th. The Goldman Sachs Group started coverage on Penguin Solutions in a research report on Tuesday, January 13th. They issued a "buy" rating and a $25.00 price target for the company. Finally, Stifel Nicolaus dropped their price target on Penguin Solutions from $27.00 to $24.00 and set a "buy" rating for the company in a research report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $27.25.

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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