American Century Companies Inc. lessened its stake in shares of Pure Storage, Inc. (NYSE:PSTG – Free Report) by 28.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,369,939 shares of the technology company’s stock after selling 552,129 shares during the period. American Century Companies Inc. owned about 0.44% of Pure Storage worth $34,922,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Rhumbline Advisers increased its holdings in shares of Pure Storage by 6.6% in the 1st quarter. Rhumbline Advisers now owns 335,034 shares of the technology company’s stock valued at $8,547,000 after purchasing an additional 20,730 shares during the period. Left Brain Wealth Management LLC increased its holdings in shares of Pure Storage by 9.7% in the 1st quarter. Left Brain Wealth Management LLC now owns 58,620 shares of the technology company’s stock valued at $1,338,000 after purchasing an additional 5,206 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Pure Storage in the 1st quarter valued at about $495,000. Intech Investment Management LLC acquired a new position in shares of Pure Storage in the 1st quarter valued at about $388,000. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Pure Storage by 80.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 20,642 shares of the technology company’s stock valued at $527,000 after purchasing an additional 9,217 shares during the period. Institutional investors and hedge funds own 82.98% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on PSTG shares. KeyCorp upped their target price on Pure Storage from $40.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, August 11th. Credit Suisse Group lifted their target price on shares of Pure Storage from $40.00 to $42.00 in a research note on Friday, June 2nd. Raymond James increased their price target on shares of Pure Storage from $40.00 to $41.00 in a research note on Thursday, June 1st. Bank of America increased their price target on shares of Pure Storage from $33.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Wedbush increased their price target on shares of Pure Storage from $34.00 to $39.00 in a research note on Thursday, June 1st. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pure Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.
Insiders Place Their Bets
In other Pure Storage news, CFO P. Kevan Krysler sold 26,925 shares of the firm’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $37.04, for a total value of $997,302.00. Following the sale, the chief financial officer now directly owns 528,059 shares in the company, valued at approximately $19,559,305.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO P. Kevan Krysler sold 26,925 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $37.04, for a total transaction of $997,302.00. Following the completion of the transaction, the chief financial officer now directly owns 528,059 shares of the company’s stock, valued at approximately $19,559,305.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mona Chu sold 11,053 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $34.37, for a total transaction of $379,891.61. Following the transaction, the chief accounting officer now directly owns 162,991 shares of the company’s stock, valued at $5,602,000.67. The disclosure for this sale can be found here. Insiders have sold 159,373 shares of company stock worth $5,833,636 in the last ninety days. Insiders own 6.50% of the company’s stock.
Pure Storage Stock Performance
NYSE PSTG opened at $36.01 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.69 and a quick ratio of 1.64. The firm has a market capitalization of $11.07 billion, a price-to-earnings ratio of 1,200.57, a P/E/G ratio of 8.51 and a beta of 1.29. The company’s fifty day moving average is $37.12 and its two-hundred day moving average is $30.49. Pure Storage, Inc. has a 52-week low of $22.14 and a 52-week high of $39.19.
Pure Storage (NYSE:PSTG – Get Free Report) last posted its quarterly earnings results on Wednesday, May 31st. The technology company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.04. The company had revenue of $589.31 million for the quarter, compared to analyst estimates of $560.83 million. Pure Storage had a net margin of 0.63% and a return on equity of 9.03%. Equities research analysts forecast that Pure Storage, Inc. will post 0.28 EPS for the current year.
Pure Storage 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.
Read More
- Five stocks we like better than Pure Storage
- 3 Home Improvement Stocks that Can Upgrade Your Portfolio
- 3 Reasons High-Yield Bloomin’ Brands is About to Blossom
- Natural Gas Prices Continue To Rally, These Stocks Should Benefit
- 5 Computer Vision Stocks with a Clear Path to Growth
- Energy and Oil Stocks Explained
- 3 Reasons Workday Stock Is Setting Up For A New Rally
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.
