Tidal Investments LLC Has $12.61 Million Stock Holdings in Penguin Solutions, Inc. $PENG

Tidal Investments LLC raised its stake in Penguin Solutions, Inc. (NASDAQ:PENG) by 224.6% in the second quarter, Holdings Channel reports. The firm owned 165,954 shares of the company’s stock after acquiring an additional 114,821 shares during the quarter. Tidal Investments LLC’s holdings in Penguin Solutions were worth $12,614,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. William Blair Investment Management LLC bought a new position in shares of Penguin Solutions in the fourth quarter valued at $18,290,000. Maverick Capital Ltd. bought a new stake in Penguin Solutions during the first quarter worth $771,000. California State Teachers Retirement System lifted its stake in Penguin Solutions by 52.8% in the first quarter. California State Teachers Retirement System now owns 74,580 shares of the company’s stock valued at $1,313,000 after acquiring an additional 25,763 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in Penguin Solutions in the fourth quarter valued at $716,000. Finally, Pacer Advisors Inc. lifted its stake in Penguin Solutions by 34.0% in the first quarter. Pacer Advisors Inc. now owns 261,776 shares of the company’s stock valued at $4,607,000 after acquiring an additional 66,460 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PENG shares. Weiss Ratings upgraded shares of Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 8th. Citigroup reiterated an “outperform” rating on shares of Penguin Solutions in a research note on Wednesday, July 8th. Citizens Jmp lifted their price target on Penguin Solutions from $65.00 to $85.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 8th. Barclays downgraded Penguin Solutions from an “equal weight” rating to an “underweight” rating and set a $40.00 price target on the stock. in a research report on Monday, July 20th. Finally, Stifel Nicolaus raised their price objective on Penguin Solutions from $66.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.33.

Insider Activity

In other Penguin Solutions news, SVP Anne Kuykendall sold 4,000 shares of the business’s 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 completion of the sale, the senior vice president owned 120,794 shares of the company’s stock, valued at $7,776,717.72. The trade was a 3.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joseph Clark sold 1,327 shares of the business’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $57.47, for a total transaction of $76,262.69. Following the completion of the sale, the senior vice president directly owned 63,056 shares of the company’s stock, valued at $3,623,828.32. This represents a 2.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 9,327 shares of company stock worth $536,103 over the last 90 days. 2.90% of the stock is currently owned by corporate insiders.

Penguin Solutions Stock Performance

PENG opened at $51.16 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 business has a fifty day simple moving average of $57.25 and a 200 day simple moving average of $45.11. Penguin Solutions, Inc. has a 1 year low of $16.04 and a 1 year high of $89.86. The company has a market capitalization of $2.62 billion, a PE ratio of 36.28 and a beta of 2.86.

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

About Penguin Solutions

Penguin Solutions, Inc (NASDAQ: PENG) provides technology solutions for data centers, high-performance computing, artificial intelligence, and intelligent edge applications. The company helps organizations design, deploy, and manage specialized computing environments, including systems used for demanding workloads such as scientific research, machine learning, and enterprise applications.

Its offerings include accelerated computing platforms, high-performance servers and clusters, software and services for managing complex computing infrastructure, and memory and storage products.