Swiss National Bank lessened its stake in shares of Pure Storage, Inc. (NYSE:PSTG – Free Report) by 9.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 612,900 shares of the technology company’s stock after selling 66,200 shares during the quarter. Swiss National Bank owned about 0.20% of Pure Storage worth $15,635,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Parkside Financial Bank & Trust bought a new position in Pure Storage in the 1st quarter valued at about $33,000. Penserra Capital Management LLC acquired a new stake in Pure Storage during the 1st quarter worth approximately $47,000. American National Bank bought a new stake in Pure Storage in the 1st quarter valued at $36,000. Fifth Third Bancorp acquired a new position in Pure Storage in the 1st quarter valued at $38,000. Finally, Ahrens Investment Partners LLC acquired a new position in Pure Storage in the 1st quarter valued at $44,000. Institutional investors own 81.77% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. Barclays boosted their target price on shares of Pure Storage from $37.00 to $38.00 in a research report on Thursday, June 1st. KeyCorp increased their target price on shares of Pure Storage from $40.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, August 11th. Wedbush lifted their price target on shares of Pure Storage from $34.00 to $39.00 in a research report on Thursday, June 1st. 888 reissued a “maintains” rating on shares of Pure Storage in a research report on Thursday, June 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Pure Storage from $36.00 to $42.00 in a report on Friday, June 16th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.11.
Pure Storage Trading Up 0.3 %
Shares of NYSE:PSTG opened at $37.45 on Wednesday. The stock’s fifty day moving average price is $37.22 and its 200-day moving average price is $30.32. Pure Storage, Inc. has a 1 year low of $22.14 and a 1 year high of $39.19. The company has a market cap of $11.52 billion, a P/E ratio of 1,248.75, a PEG ratio of 8.88 and a beta of 1.29. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.69 and a quick ratio of 1.64.
Pure Storage (NYSE:PSTG – Get Free Report) last released its quarterly earnings results on Wednesday, May 31st. The technology company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.04. The business had revenue of $589.31 million for the quarter, compared to the consensus estimate of $560.83 million. Pure Storage had a net margin of 0.63% and a return on equity of 9.03%. Sell-side analysts expect that Pure Storage, Inc. will post 0.28 earnings per share for the current year.
Insider Buying and Selling at Pure Storage
In other news, insider Ajay Singh sold 37,084 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $36.42, for a total value of $1,350,599.28. Following the sale, the insider now directly owns 414,393 shares in the company, valued at approximately $15,092,193.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Ajay Singh sold 37,084 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $36.42, for a total value of $1,350,599.28. Following the transaction, the insider now directly owns 414,393 shares in the company, valued at $15,092,193.06. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Mona Chu sold 5,387 shares of the firm’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $38.49, for a total value of $207,345.63. Following the transaction, the chief accounting officer now owns 147,188 shares in the company, valued at approximately $5,665,266.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 159,373 shares of company stock worth $5,833,636. Insiders own 6.50% of the company’s stock.
Pure Storage Company Profile
Pure Storage, Inc, together with its subsidiaries, provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.
Featured Stories
- Five stocks we like better than Pure Storage
- What are stock market earnings reports?
- 5 Best Fintech Banks to Invest in Now
- What is the Australian Securities Exchange (ASX)
- 3 Smart AI ETFs For Intelligent Passive Investing Needs
- 3 Tickers Leading a Meme Stock Revival
- 4 Reasons Zoom Video is Ready to Rock Into a Reversal
Want to see what other hedge funds are holding PSTG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pure Storage, Inc. (NYSE:PSTG – Free Report).
Receive News & Ratings for Pure Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pure Storage and related companies with MarketBeat.com's FREE daily email newsletter.
