FNY Investment Advisers LLC Invests $714,000 in Penguin Solutions, Inc. $PENG

FNY Investment Advisers LLC acquired a new stake in Penguin Solutions, Inc. (NASDAQ:PENG) in the second quarter, Holdings Channel.com reports. The firm acquired 9,396 shares of the company’s stock, valued at approximately $714,000.

Several other hedge funds also recently bought and sold shares of PENG. Osaic Holdings Inc. increased its holdings in Penguin Solutions by 20.8% during the 2nd quarter. Osaic Holdings Inc. now owns 3,583 shares of the company’s stock worth $71,000 after acquiring an additional 617 shares during the period. Covestor Ltd boosted its holdings in Penguin Solutions by 4.7% in the 4th 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 period. M&T Bank Corp boosted its holdings in Penguin Solutions by 7.0% in the 4th 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 period. Optimize Financial Inc boosted its holdings in Penguin Solutions by 1.5% in the 4th 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 period. Finally, Farther Finance Advisors LLC grew its position in shares of Penguin Solutions by 187.0% during the 4th quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock valued at $28,000 after purchasing an additional 946 shares in the last quarter.

Penguin Solutions Price Performance

Shares of Penguin Solutions stock opened at $56.26 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. Penguin Solutions, Inc. has a 52-week low of $16.04 and a 52-week high of $89.86. The company has a fifty day moving average of $63.22 and a 200-day moving average of $39.06. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 39.90 and a beta of 2.87.

Penguin Solutions (NASDAQ:PENG) last issued its earnings results on Tuesday, July 7th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.21. The company had revenue of $478.71 million for the quarter, compared to analysts’ expectations of $407.47 million. Penguin Solutions had a net margin of 6.44% and a return on equity of 28.23%. During the same quarter last year, the company earned $0.52 EPS. Equities research analysts expect that Penguin Solutions, Inc. will post 2.08 EPS for the current year.

Insider Buying and Selling

In other news, Director Maximiliane C. Straub sold 8,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the sale, the director owned 58,975 shares of the company’s stock, valued at approximately $2,653,875. The trade was a 11.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Anne Kuykendall sold 4,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $64.38, for a total value of $257,520.00. Following the sale, the senior vice president owned 120,794 shares of the company’s stock, valued at $7,776,717.72. This represents a 3.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 54,678 shares of company stock valued at $2,735,664 over the last three months. 2.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PENG has been the topic of several research analyst reports. Needham & Company LLC upped their price target on shares of Penguin Solutions from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Citizens Jmp lifted their price objective on Penguin Solutions from $65.00 to $85.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 8th. Weiss Ratings upgraded Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 8th. Citigroup restated an “outperform” rating on shares of Penguin Solutions in a research note on Wednesday, July 8th. Finally, Zacks Research upgraded Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $63.33.

About Penguin Solutions

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.