Pure Storage, Inc. (NYSE:PSTG) Shares Purchased by Robeco Institutional Asset Management B.V.

Posted by on May 6th, 2023

Robeco Institutional Asset Management B.V. boosted its position in shares of Pure Storage, Inc. (NYSE:PSTG – Get Rating) by 83.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,968 shares of the technology company’s stock after buying an additional 20,031 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Pure Storage were worth $1,177,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PSTG. Cambridge Investment Research Advisors Inc. grew its position in Pure Storage by 121.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,660 shares of the technology company’s stock valued at $765,000 after buying an additional 11,891 shares during the period. Private Advisor Group LLC acquired a new stake in shares of Pure Storage in the first quarter valued at about $233,000. MetLife Investment Management LLC acquired a new stake in shares of Pure Storage in the first quarter valued at about $596,000. Synovus Financial Corp grew its position in shares of Pure Storage by 1.7% in the first quarter. Synovus Financial Corp now owns 43,894 shares of the technology company’s stock valued at $1,547,000 after purchasing an additional 744 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Pure Storage by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,035,914 shares of the technology company’s stock worth $36,582,000 after buying an additional 6,756 shares in the last quarter. Institutional investors and hedge funds own 84.96% of the company’s stock.

Insiders Place Their Bets

In other Pure Storage news, Director Roxanne Taylor sold 19,155 shares of the business’s stock in a transaction that occurred on Thursday, April 13th. The shares were sold at an average price of $26.08, for a total transaction of $499,562.40. Following the completion of the transaction, the director now owns 63,416 shares in the company, valued at approximately $1,653,889.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CRO Dan Fitzsimons sold 28,481 shares of the business’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $24.49, for a total transaction of $697,499.69. Following the completion of the sale, the executive now owns 192,530 shares in the company, valued at approximately $4,715,059.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roxanne Taylor sold 19,155 shares of the business’s stock in a transaction that occurred on Thursday, April 13th. The stock was sold at an average price of $26.08, for a total transaction of $499,562.40. Following the sale, the director now owns 63,416 shares of the company’s stock, valued at approximately $1,653,889.28. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PSTG shares. Raymond James raised their price target on shares of Pure Storage from $40.00 to $43.00 and gave the stock a “strong-buy” rating in a research note on Thursday, March 2nd. KeyCorp reduced their target price on shares of Pure Storage from $39.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, March 2nd. Credit Suisse Group reaffirmed an “outperform” rating and set a $40.00 target price on shares of Pure Storage in a research note on Thursday, March 2nd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Pure Storage from $38.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, March 2nd. Finally, Barclays reduced their price target on shares of Pure Storage from $42.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, March 2nd. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.58.

Pure Storage Stock Up 1.9 %

NYSE PSTG opened at $22.64 on Friday. Pure Storage, Inc. has a 52 week low of $21.90 and a 52 week high of $32.45. The stock has a market capitalization of $6.97 billion, a PE ratio of 107.81, a price-to-earnings-growth ratio of 12.49 and a beta of 1.22. The firm has a 50 day moving average of $24.52 and a two-hundred day moving average of $27.43.

Pure Storage (NYSE:PSTG – Get Rating) last posted its quarterly earnings results on Wednesday, March 1st. The technology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.10 by $0.17. Pure Storage had a net margin of 2.65% and a return on equity of 16.59%. The company had revenue of $810.21 million during the quarter, compared to analysts’ expectations of $811.30 million. On average, equities research analysts expect that Pure Storage, Inc. will post 0.19 earnings per share for the current fiscal year.

About Pure Storage

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Pure Storage, Inc engages in the business of delivering innovative and disruptive data storage, products, and services that enable customers to maximize the value of data. The firm is also involved in the provision of data storage and management with a mission to redefine the storage experience by simplifying how people consume and interact with data.

See Also

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Institutional Ownership by Quarter for Pure Storage (NYSE:PSTG)

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