UBS Group AG Has $10.84 Million Holdings in Penguin Solutions, Inc. $PENG

Key Points

• UBS Group AG reduced its stake in Penguin Solutions by 16.3% in the fourth quarter, selling 108,073 shares and ending with 554,076 shares worth about $10.84 million.
• Analyst sentiment remains mixed but constructive, with a consensus “Moderate Buy” rating and an average target price of $27.25, even after several recent rating changes and target adjustments.
• Penguin Solutions has seen insider selling and strong recent results: executives sold shares last quarter, while the company recently beat quarterly EPS and revenue estimates and has seen the stock trade near its 52-week high.

UBS Group AG cut its holdings in shares of Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) by 16.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 554,076 shares of the company's stock after selling 108,073 shares during the period. UBS Group AG owned 1.05% of Penguin Solutions worth $10,838,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Kennedy Capital Management LLC lifted its position in Penguin Solutions by 31.9% during the 3rd quarter. Kennedy Capital Management LLC now owns 992,168 shares of the company's stock valued at $26,074,000 after purchasing an additional 240,159 shares during the period. State of Alaska Department of Revenue lifted its position in Penguin Solutions by 98.3% during the 4th quarter. State of Alaska Department of Revenue now owns 47,576 shares of the company's stock valued at $930,000 after purchasing an additional 23,582 shares during the period. Barclays PLC lifted its position in Penguin Solutions by 46.9% during the 3rd quarter. Barclays PLC now owns 1,055,189 shares of the company's stock valued at $27,730,000 after purchasing an additional 336,644 shares during the period. American Century Companies Inc. lifted its position in Penguin Solutions by 35.3% during the 3rd quarter. American Century Companies Inc. now owns 1,294,279 shares of the company's stock valued at $34,014,000 after purchasing an additional 337,564 shares during the period. Finally, LSV Asset Management lifted its position in Penguin Solutions by 337.6% during the 3rd quarter. LSV Asset Management now owns 569,368 shares of the company's stock valued at $14,963,000 after purchasing an additional 439,268 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays downgraded shares of Penguin Solutions from an "overweight" rating to an "equal weight" rating and upped their target price for the company from $23.00 to $27.00 in a research report on Wednesday, April 22nd. Weiss Ratings downgraded shares of Penguin Solutions from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday. Zacks Research upgraded shares of Penguin Solutions from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 7th. Stifel Nicolaus lowered their price target on Penguin Solutions from $27.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, April 2nd. Finally, Wall Street Zen cut Penguin Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $27.25.

Insiders Place Their Bets

In related news, SVP Joseph Gates Clark sold 5,000 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $39.99, for a total transaction of $199,950.00. Following the completion of the sale, the senior vice president directly owned 76,776 shares of the company's stock, valued at approximately $3,070,272.24. This represents a 6.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sandeep Nayyar sold 7,107 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $43.48, for a total value of $309,012.36. Following the sale, the director directly owned 25,417 shares of the company's stock, valued at approximately $1,105,131.16. The trade was a 21.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 65,769 shares of company stock valued at $2,326,051 in the last quarter. 2.90% of the stock is owned by company insiders.

Penguin Solutions Price Performance

NASDAQ PENG opened at $46.82 on Friday. The business has a 50 day simple moving average of $25.71 and a 200 day simple moving average of $22.04. Penguin Solutions, Inc. has a 52-week low of $16.04 and a 52-week high of $53.27. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.55 and a current ratio of 2.10. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 65.03 and a beta of 2.66.

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

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