Penguin Solutions, Inc. $PENG Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC reduced its position in Penguin Solutions, Inc. (NASDAQ:PENG) by 13.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 390,674 shares of the company’s stock after selling 59,356 shares during the period. William Blair Investment Management LLC’s holdings in Penguin Solutions were worth $21,366,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC acquired a new stake in Penguin Solutions in the 2nd quarter valued at $26,000. Allworth Financial LP acquired a new position in Penguin Solutions during the second quarter worth $37,000. Nykredit A S acquired a new position in Penguin Solutions during the second quarter worth $42,000. Polaris Financial Partners acquired a new position in Penguin Solutions during the third quarter worth $50,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Penguin Solutions in the second quarter valued at $74,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PENG shares. Needham & Company LLC lifted their price objective on shares of Penguin Solutions from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, October 7th. Barclays boosted their target price on shares of Penguin Solutions from $40.00 to $60.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 7th. Deutsche Bank set a $100.00 target price on shares of Penguin Solutions in a report on Friday, October 9th. Bank of America assumed coverage on shares of Penguin Solutions in a research report on Friday, October 9th. They issued a “buy” rating and a $100.00 price target on the stock. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price target on shares of Penguin Solutions in a research report on Wednesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.50.

Insider Buying and Selling

In other Penguin Solutions news, SVP Anne Kuykendall sold 738 shares of the business’s stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $55.08, for a total value of $40,649.04. Following the transaction, the senior vice president owned 141,988 shares of the company’s stock, valued at approximately $7,820,699.04. The trade was a 0.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Joseph Clark sold 5,773 shares of the business’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $49.66, for a total value of $286,687.18. Following the completion of the transaction, the senior vice president directly owned 80,080 shares in the company, valued at approximately $3,976,772.80. This represents a 6.72% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 16,011 shares of company stock worth $847,239. 2.90% of the stock is owned by company insiders.

Penguin Solutions Stock Performance

Shares of NASDAQ PENG traded down $2.74 during midday trading on Friday, reaching $47.36. The company’s stock had a trading volume of 1,397,508 shares, compared to its average volume of 3,141,448. Penguin Solutions, Inc. has a 12-month low of $16.04 and a 12-month high of $89.86. The firm has a 50 day moving average price of $55.50 and a 200-day moving average price of $45.20. The stock has a market capitalization of $2.85 billion, a P/E ratio of 18.29, a PEG ratio of 0.59 and a beta of 2.87. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.88 and a quick ratio of 1.25.

Penguin Solutions (NASDAQ:PENG) last released its earnings results on Tuesday, October 6th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.23. The company had revenue of $566.68 million during the quarter, compared to analyst estimates of $520.99 million. Penguin Solutions had a return on equity of 36.71% and a net margin of 10.43%. During the same period in the prior year, the company posted $0.11 earnings per share. Penguin Solutions has set its FY 2027 guidance at 3.750-5.15 EPS. As a group, equities analysts predict that Penguin Solutions, Inc. will post 4.05 earnings per share for the current year.

Penguin Solutions Profile

Penguin Solutions, formerly known as SMART Global Holdings, provides computing and memory technologies for businesses and public-sector organizations. Its offerings include systems for artificial intelligence, high-performance computing and edge computing, as well as memory modules and storage products. The company’s portfolio includes Penguin Computing solutions for advanced computing and AI workloads, Stratus platforms designed for continuous availability, and SMART Modular memory and storage products.