Clearbridge Investments LLC Has $8.73 Million Position in Penguin Solutions, Inc. $PENG

Clearbridge Investments LLC reduced its holdings in Penguin Solutions, Inc. (NASDAQ:PENG) by 7.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 446,146 shares of the company’s stock after selling 33,775 shares during the period. Clearbridge Investments LLC’s holdings in Penguin Solutions were worth $8,727,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Allworth Financial LP boosted its position in Penguin Solutions by 41.4% during the third quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock valued at $47,000 after purchasing an additional 525 shares during the last quarter. Osaic Holdings Inc. boosted its position in Penguin Solutions by 20.8% during the second quarter. Osaic Holdings Inc. now owns 3,583 shares of the company’s stock valued at $71,000 after purchasing an additional 617 shares during the last quarter. Covestor Ltd boosted its position in Penguin Solutions by 4.7% during the fourth quarter. Covestor Ltd now owns 15,535 shares of the company’s stock valued at $304,000 after purchasing an additional 695 shares during the last quarter. M&T Bank Corp boosted its position in Penguin Solutions by 7.0% during the fourth quarter. M&T Bank Corp now owns 10,851 shares of the company’s stock valued at $212,000 after purchasing an additional 706 shares during the last quarter. Finally, Optimize Financial Inc boosted its position in Penguin Solutions by 1.5% during the fourth quarter. Optimize Financial Inc now owns 56,354 shares of the company’s stock valued at $1,102,000 after purchasing an additional 808 shares during the last quarter.

Insider Activity at Penguin Solutions

In other news, SVP Anne Kuykendall sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $54.45, for a total transaction of $217,800.00. Following the completion of the sale, the senior vice president owned 124,794 shares in the company, valued at approximately $6,795,033.30. This trade represents a 3.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Maximiliane C. Straub sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $49.00, for a total value of $147,000.00. Following the completion of the transaction, the director directly owned 51,975 shares in the company, valued at $2,546,775. The trade was a 5.46% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 83,120 shares of company stock worth $3,300,214. 2.90% of the stock is owned by corporate insiders.

Penguin Solutions Stock Down 5.1%

PENG stock opened at $58.52 on Thursday. The company has a current ratio of 2.10, a quick ratio of 1.55 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $2.97 billion, a PE ratio of 81.28 and a beta of 2.89. Penguin Solutions, Inc. has a 1-year low of $16.04 and a 1-year high of $73.24. The business’s 50 day simple moving average is $39.92 and its 200 day simple moving average is $26.67.

Penguin Solutions (NASDAQ:PENG) last posted its earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. The business had revenue of $343.00 million for the quarter, compared to analyst estimates of $339.00 million. Penguin Solutions had a return on equity of 19.94% and a net margin of 4.07%. As a group, research analysts anticipate that Penguin Solutions, Inc. will post 1.79 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the company. Barclays cut Penguin Solutions from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $23.00 to $27.00 in a research report on Wednesday, April 22nd. Needham & Company LLC boosted their target price on shares of Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Rosenblatt Securities boosted their target price on shares of Penguin Solutions from $54.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Weiss Ratings downgraded shares of Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. Finally, Stifel Nicolaus boosted their target price on shares of Penguin Solutions from $24.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Penguin Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $36.88.

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.