SG Americas Securities LLC bought a new stake in shares of Pure Storage Inc (NYSE:PSTG) during the 4th quarter, Holdings Channel reports. The institutional investor bought 10,191 shares of the technology company’s stock, valued at approximately $162,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PSTG. Maple Rock Capital Partners Inc. bought a new position in shares of Pure Storage during the 3rd quarter valued at approximately $12,792,000. State Street Corp grew its position in Pure Storage by 35.1% in the 2nd quarter. State Street Corp now owns 1,602,236 shares of the technology company’s stock valued at $20,528,000 after acquiring an additional 416,577 shares during the last quarter. Pier Capital LLC bought a new position in Pure Storage in the 3rd quarter valued at $5,655,000. First Trust Advisors LP grew its position in Pure Storage by 1,923.2% in the 3rd quarter. First Trust Advisors LP now owns 315,754 shares of the technology company’s stock valued at $5,049,000 after acquiring an additional 300,147 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. bought a new position in Pure Storage in the 3rd quarter valued at $3,889,000. 45.49% of the stock is currently owned by hedge funds and other institutional investors.
Pure Storage Inc (NYSE PSTG) opened at $20.54 on Wednesday. Pure Storage Inc has a 12-month low of $9.61 and a 12-month high of $22.60. The stock has a market capitalization of $4,537.25, a price-to-earnings ratio of -24.45 and a beta of 1.23.
Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Thursday, March 1st. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. Pure Storage had a negative return on equity of 38.70% and a negative net margin of 17.36%. The business had revenue of $338.30 million for the quarter, compared to the consensus estimate of $331.80 million. During the same quarter in the prior year, the company earned ($0.02) EPS. The business’s revenue was up 48.4% compared to the same quarter last year. equities analysts anticipate that Pure Storage Inc will post -0.78 earnings per share for the current year.
Several brokerages have commented on PSTG. Robert W. Baird reaffirmed a “neutral” rating and issued a $22.00 price objective (up previously from $20.00) on shares of Pure Storage in a research report on Friday, March 2nd. KeyCorp reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Pure Storage in a research report on Wednesday, November 29th. Lake Street Capital set a $21.00 price objective on Pure Storage and gave the company a “buy” rating in a research report on Wednesday, November 29th. They noted that the move was a valuation call. BMO Capital Markets upped their price objective on Pure Storage to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, November 29th. Finally, Barclays reaffirmed a “hold” rating and issued a $19.00 price objective on shares of Pure Storage in a research report on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Pure Storage currently has an average rating of “Buy” and a consensus target price of $21.31.
In related news, CFO Timothy Riitters sold 11,749 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $16.74, for a total transaction of $196,678.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Dietzen sold 125,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $21.37, for a total value of $2,671,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 872,362 shares of company stock worth $15,881,614 in the last three months. Corporate insiders own 41.47% of the company’s stock.
Pure Storage Company Profile
Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.
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