William Blair Investment Management LLC Invests $34.21 Million in Penguin Solutions, Inc. $PENG

William Blair Investment Management LLC bought a new stake in Penguin Solutions, Inc. (NASDAQ:PENG) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 450,030 shares of the company’s stock, valued at approximately $34,207,000. William Blair Investment Management LLC owned about 0.88% of Penguin Solutions at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PENG. BlackRock Inc. purchased a new position in Penguin Solutions in the 2nd quarter worth approximately $581,658,000. Dimensional Fund Advisors LP bought a new stake in Penguin Solutions in the third quarter valued at approximately $60,264,000. Invesco Ltd. boosted its stake in shares of Penguin Solutions by 596.8% during the fourth quarter. Invesco Ltd. now owns 1,992,415 shares of the company’s stock valued at $38,972,000 after purchasing an additional 1,706,482 shares during the period. Ophir Asset Management Pty Ltd boosted its stake in shares of Penguin Solutions by 234.3% during the fourth quarter. Ophir Asset Management Pty Ltd now owns 1,211,612 shares of the company’s stock valued at $23,699,000 after purchasing an additional 849,178 shares during the period. Finally, Paradigm Capital Management Inc. NY grew its holdings in shares of Penguin Solutions by 73.8% in the first quarter. Paradigm Capital Management Inc. NY now owns 1,605,100 shares of the company’s stock worth $28,250,000 after purchasing an additional 681,700 shares during the last quarter.

Penguin Solutions Price Performance

PENG opened at $52.62 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.10 and a current ratio of 1.54. The stock has a market capitalization of $2.70 billion, a PE ratio of 37.32 and a beta of 2.87. The stock’s 50 day moving average price is $61.83 and its 200-day moving average price is $41.82. Penguin Solutions, Inc. has a 52-week low of $16.04 and a 52-week high of $89.86.

Penguin Solutions (NASDAQ:PENG) last announced its quarterly earnings results on Tuesday, July 7th. The company reported $0.84 EPS 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 analyst estimates 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 last year, the firm posted $0.52 earnings per share. On average, equities research analysts predict that Penguin Solutions, Inc. will post 2.08 EPS for the current year.

Insider Activity

In other Penguin Solutions news, SVP Joseph Gates Clark sold 10,351 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $58.87, for a total value of $609,363.37. Following the completion of the sale, the senior vice president directly owned 66,425 shares in the company, valued at $3,910,439.75. This trade represents a 13.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Anne Kuykendall sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $54.45, for a total transaction of $217,800.00. Following the completion of the sale, the senior vice president owned 124,794 shares of the company’s stock, valued at $6,795,033.30. This trade represents a 3.11% decrease in their ownership of the stock. 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 have sold 19,678 shares of company stock worth $1,160,946 in the last quarter. 2.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on PENG shares. Rosenblatt Securities lifted their target price 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. Zacks Research raised shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Stifel Nicolaus boosted their price objective on shares of Penguin Solutions from $66.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Citigroup restated an “outperform” rating on shares of Penguin Solutions in a research report on Wednesday, July 8th. Finally, Wall Street Zen downgraded shares of Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.33.

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.