Sei Investments Co. increased its position in Penguin Solutions, Inc. (NASDAQ:PENG – Free Report) by 21.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,981 shares of the company’s stock after acquiring an additional 31,212 shares during the period. Sei Investments Co.’s holdings in Penguin Solutions were worth $3,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings in shares of Penguin Solutions by 187.0% in the fourth 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 during the period. Kestra Advisory Services LLC acquired a new stake in shares of Penguin Solutions during the fourth quarter worth about $29,000. Raymond James Financial Inc. acquired a new stake in shares of Penguin Solutions during the second quarter worth about $37,000. Advisory Services Network LLC purchased a new stake in Penguin Solutions in the third quarter valued at approximately $50,000. Finally, Torren Management LLC purchased a new stake in Penguin Solutions in the fourth quarter valued at approximately $48,000.
Penguin Solutions Price Performance
Shares of NASDAQ PENG opened at $58.43 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.54 and a quick ratio of 1.10. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 41.44 and a beta of 2.87. The firm’s 50 day simple moving average is $63.27 and its 200-day simple moving average is $39.19. Penguin Solutions, Inc. has a 12 month low of $16.04 and a 12 month high of $89.86.
Insider Activity
In other news, Director Sandeep Nayyar sold 12,893 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $45.09, for a total transaction of $581,345.37. Following the sale, the director directly owned 32,524 shares in the company, valued at $1,466,507.16. This trade represents a 28.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maximiliane C. Straub sold 8,000 shares of Penguin Solutions stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the transaction, the director owned 58,975 shares of the company’s stock, valued at approximately $2,653,875. This represents a 11.94% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 54,678 shares of company stock worth $2,735,664. 2.90% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of research firms have issued reports on PENG. Wall Street Zen lowered shares of Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 26th. Weiss Ratings raised shares of Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 8th. Rosenblatt Securities increased their price objective on shares of Penguin Solutions from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Needham & Company LLC raised their target price 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. Finally, Zacks Research upgraded shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.33.
View Our Latest Research Report on PENG
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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