Legal & General Group Plc Purchases Shares of 105,178 Penguin Solutions, Inc. $PENG

Legal & General Group Plc acquired a new stake in Penguin Solutions, Inc. (NASDAQ:PENG) during the second quarter, Holdings Channel reports. The institutional investor acquired 105,178 shares of the company’s stock, valued at approximately $7,995,000.

Several other institutional investors have also recently modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in shares of Penguin Solutions during the second quarter worth about $26,000. Allworth Financial LP purchased a new stake in Penguin Solutions in the second quarter valued at approximately $37,000. Meeder Asset Management Inc. acquired a new position in Penguin Solutions in the 2nd quarter worth approximately $92,000. Farther Finance Advisors LLC increased its holdings in Penguin Solutions by 187.0% in the 4th quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock worth $28,000 after buying an additional 946 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in Penguin Solutions during the 4th quarter worth approximately $29,000.

Penguin Solutions Price Performance

NASDAQ:PENG opened at $47.59 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.54 and a debt-to-equity ratio of 0.65. Penguin Solutions, Inc. has a 52 week low of $16.04 and a 52 week high of $89.86. The stock’s 50-day moving average price is $59.80 and its 200-day moving average price is $43.54. The stock has a market capitalization of $2.44 billion, a PE ratio of 33.75 and a beta of 2.87.

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

Analyst Ratings Changes

Several analysts have commented on the stock. Needham & Company LLC lifted their price objective on shares of Penguin Solutions from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Wall Street Zen lowered shares of Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Citigroup reissued an “outperform” rating on shares of Penguin Solutions in a report on Wednesday, July 8th. Barclays downgraded shares of Penguin Solutions from an “equal weight” rating to an “underweight” rating and set a $40.00 target price for the company. in a research report on Monday, July 20th. Finally, Rosenblatt Securities increased their price target on Penguin Solutions from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Penguin Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $63.33.

Insider Buying and Selling

In other news, SVP Joseph Gates Clark sold 1,327 shares of the stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $57.47, for a total transaction of $76,262.69. Following the transaction, the senior vice president owned 63,056 shares in the company, valued at $3,623,828.32. This trade represents a 2.06% decrease in their position. The sale was disclosed in a filing 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 Anne Kuykendall sold 4,000 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $50.58, for a total value of $202,320.00. Following the transaction, the senior vice president owned 112,994 shares in the company, valued at $5,715,236.52. This trade represents a 3.42% 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. Insiders sold 9,327 shares of company stock valued at $536,103 over the last 90 days. Company insiders own 2.90% of the company’s stock.

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.