Tidal Investments LLC Has $12.61 Million Position in Penguin Solutions, Inc. $PENG

Key Points

• Tidal Investments increased its Penguin Solutions position by 224.6% in the second quarter, holding 165,954 shares worth approximately $12.61 million. Other major institutions, including BlackRock and California State Teachers Retirement System, also significantly increased or initiated positions.
• Analyst sentiment remains positive overall, with six Buy ratings, two Holds, and one Sell. Penguin Solutions has a MarketBeat consensus rating of “Moderate Buy” and an average price target of $63.33.
• The company exceeded quarterly expectations, reporting $0.84 in EPS versus the $0.63 consensus and revenue of $478.71 million compared with estimates of $407.47 million. The stock opened at $51.16, while insiders sold 9,327 shares worth about $536,103 during the latest quarter.

Tidal Investments LLC raised its position in Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) by 224.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 165,954 shares of the company's stock after purchasing an additional 114,821 shares during the period. Tidal Investments LLC owned approximately 0.32% of Penguin Solutions worth $12,614,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of PENG. BlackRock Inc. bought a new position in shares of Penguin Solutions during the second quarter worth $581,658,000. California State Teachers Retirement System raised its stake in Penguin Solutions by 5,256.9% during the 2nd quarter. California State Teachers Retirement System now owns 3,995,162 shares of the company's stock worth $303,672,000 after buying an additional 3,920,582 shares during the period. Dimensional Fund Advisors LP acquired a new stake in Penguin Solutions during the 3rd quarter worth $60,264,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Penguin Solutions during the second quarter worth about $150,192,000. Finally, Invesco Ltd. lifted its holdings in Penguin Solutions by 596.8% during the fourth quarter. Invesco Ltd. now owns 1,992,415 shares of the company's stock worth $38,972,000 after acquiring an additional 1,706,482 shares in the last quarter.

Analyst Ratings Changes

Several brokerages have issued reports on PENG. Zacks Research downgraded Penguin Solutions from a "strong-buy" rating to a "hold" rating in a report on Monday, September 7th. Wall Street Zen cut Penguin Solutions from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 26th. Weiss Ratings raised Penguin Solutions from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, July 8th. Stifel Nicolaus increased their target price on Penguin Solutions from $66.00 to $75.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Finally, Citizens Jmp raised their target price on shares of Penguin Solutions from $65.00 to $85.00 and gave the stock a "market outperform" rating in a report on Wednesday, July 8th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Penguin Solutions currently has an average rating of "Moderate Buy" and an average target price of $63.33.

Penguin Solutions Stock Up 5.2%

NASDAQ:PENG opened at $51.16 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.10 and a current ratio of 1.54. The company has a market cap of $2.62 billion, a PE ratio of 36.28 and a beta of 2.86. Penguin Solutions, Inc. has a 52-week low of $16.04 and a 52-week high of $89.86. The stock has a 50-day simple moving average of $57.25 and a 200 day simple moving average of $45.11.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last released its earnings results on Tuesday, July 7th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.63 by $0.21. Penguin Solutions had a return on equity of 28.23% and a net margin of 6.44%.The firm had revenue of $478.71 million for the quarter, compared to analysts' expectations of $407.47 million. During the same quarter in the previous year, the business posted $0.52 EPS. On average, sell-side analysts expect that Penguin Solutions, Inc. will post 2.08 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Joseph Clark sold 1,327 shares of the business's stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $57.47, for a total value of $76,262.69. Following the sale, the senior vice president owned 63,056 shares of the company's stock, valued at $3,623,828.32. The trade was a 2.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Anne Kuykendall sold 4,000 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $50.58, for a total transaction of $202,320.00. Following the transaction, the senior vice president owned 112,994 shares of the company's stock, valued at $5,715,236.52. The trade was a 3.42% 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. Insiders sold 9,327 shares of company stock worth $536,103 over the last quarter. 2.90% of the stock is owned by corporate insiders.

About Penguin Solutions

Penguin Solutions, Inc NASDAQ: PENG provides technology solutions for data centers, high-performance computing, artificial intelligence, and intelligent edge applications. The company helps organizations design, deploy, and manage specialized computing environments, including systems used for demanding workloads such as scientific research, machine learning, and enterprise applications.

Its offerings include accelerated computing platforms, high-performance servers and clusters, software and services for managing complex computing infrastructure, and memory and storage products.

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