Public Sector Pension Investment Board lowered its holdings in shares of Pure Storage, Inc. (NYSE:PSTG – Get Rating) by 76.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,875 shares of the technology company's stock after selling 201,125 shares during the quarter. Public Sector Pension Investment Board's holdings in Pure Storage were worth $1,617,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Elequin Capital LP purchased a new stake in shares of Pure Storage during the 1st quarter valued at about $29,000. IndexIQ Advisors LLC purchased a new stake in shares of Pure Storage during the 1st quarter valued at about $32,000. Parkside Financial Bank & Trust purchased a new stake in shares of Pure Storage during the 1st quarter valued at about $33,000. Penserra Capital Management LLC purchased a new stake in shares of Pure Storage during the 1st quarter valued at about $47,000. Finally, Banque Cantonale Vaudoise bought a new position in shares of Pure Storage during the 1st quarter valued at approximately $52,000. Hedge funds and other institutional investors own 82.91% of the company's stock.
Get Pure Storage alerts:Pure Storage Stock Performance
NYSE:PSTG opened at $30.25 on Friday. The stock's fifty day moving average is $29.16 and its 200 day moving average is $27.96. Pure Storage, Inc. has a fifty-two week low of $21.90 and a fifty-two week high of $36.71. The firm has a market capitalization of $9.04 billion, a PE ratio of 756.44, a PEG ratio of 7.99 and a beta of 1.28.
Pure Storage (NYSE:PSTG – Get Rating) last released its quarterly earnings results on Wednesday, August 31st. The technology company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.10. Pure Storage had a return on equity of 13.52% and a net margin of 0.51%. The company had revenue of $646.80 million for the quarter, compared to analyst estimates of $636.06 million. During the same quarter in the prior year, the firm posted ($0.06) EPS. Pure Storage's quarterly revenue was up 30.2% compared to the same quarter last year. Equities analysts forecast that Pure Storage, Inc. will post 0.1 EPS for the current year.Insider Activity at Pure Storage
In related news, Director Andrew William Fraser Brown sold 12,637 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $30.18, for a total transaction of $381,384.66. Following the sale, the director now owns 55,448 shares in the company, valued at approximately $1,673,420.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 6.80% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on PSTG shares. JPMorgan Chase & Co. cut their price objective on Pure Storage from $43.00 to $40.00 and set an "overweight" rating for the company in a research note on Friday, November 25th. Lake Street Capital boosted their price objective on Pure Storage from $36.00 to $38.00 and gave the company a "buy" rating in a research note on Thursday, September 1st. Northland Securities boosted their price objective on Pure Storage from $44.00 to $47.00 in a research note on Thursday, September 1st. Susquehanna boosted their price objective on Pure Storage from $40.00 to $44.00 in a research note on Thursday. Finally, Susquehanna Bancshares upped their price target on Pure Storage from $40.00 to $44.00 in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Pure Storage has an average rating of "Moderate Buy" and an average target price of $38.89.
Pure Storage Company Profile
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Pure Storage, Inc 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.
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