UBS Group AG Sells 108,073 Shares of Penguin Solutions, Inc. $PENG

UBS Group AG reduced its holdings in shares of Penguin Solutions, Inc. (NASDAQ:PENG) by 16.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 554,076 shares of the company’s stock after selling 108,073 shares during the period. UBS Group AG’s holdings in Penguin Solutions were worth $10,838,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its stake 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 worth $28,000 after acquiring an additional 946 shares in the last quarter. Strs Ohio bought a new position in shares of Penguin Solutions during the 3rd quarter worth approximately $42,000. Jones Financial Companies Lllp grew its stake in shares of Penguin Solutions by 4,131.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,735 shares of the company’s stock worth $45,000 after acquiring an additional 1,694 shares in the last quarter. Allworth Financial LP grew its stake in shares of Penguin Solutions by 41.4% during the 3rd quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock worth $47,000 after acquiring an additional 525 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Penguin Solutions during the 2nd quarter worth approximately $37,000.

Insiders Place Their Bets

In other Penguin Solutions news, SVP Anne Kuykendall sold 4,000 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $17.75, for a total transaction of $71,000.00. Following the completion of the sale, the senior vice president owned 131,352 shares of the company’s stock, valued at $2,331,498. This trade represents a 2.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Joseph Gates Clark sold 5,000 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $39.99, for a total value of $199,950.00. Following the sale, the senior vice president directly owned 76,776 shares of the company’s stock, valued at $3,070,272.24. This represents a 6.11% 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. Over the last 90 days, insiders sold 65,769 shares of company stock worth $2,326,051. Company insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus decreased their price target on shares of Penguin Solutions from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Barclays downgraded Penguin Solutions from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $23.00 to $27.00 in a report on Wednesday, April 22nd. Weiss Ratings downgraded Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday. Needham & Company LLC increased their price objective on Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Finally, Wall Street Zen downgraded Penguin Solutions from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One investment 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 stock. Based on data from MarketBeat, Penguin Solutions has an average rating of “Moderate Buy” and an average price target of $27.25.

Penguin Solutions Trading Down 5.3%

NASDAQ PENG opened at $46.82 on Friday. The company has a market cap of $2.38 billion, a PE ratio of 65.03 and a beta of 2.66. The company has a current ratio of 2.10, a quick ratio of 1.55 and a debt-to-equity ratio of 1.09. Penguin Solutions, Inc. has a 12 month low of $16.04 and a 12 month high of $53.27. The stock has a 50 day moving average of $25.71 and a 200-day moving average of $22.04.

Penguin Solutions (NASDAQ:PENG) last released its quarterly earnings data on Wednesday, April 1st. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.43 by $0.09. The company had revenue of $343.00 million during the quarter, compared to the consensus estimate of $339.00 million. Penguin Solutions had a return on equity of 19.94% and a net margin of 4.07%. On average, equities research analysts anticipate that Penguin Solutions, Inc. will post 1.66 EPS for the current fiscal year.

Penguin Solutions Company 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.