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Robeco Institutional Asset Management B.V. Increases Stake in Pure Storage, Inc. (NYSE:PSTG)

Defense World ·  Jan 14, 2023 06:21

Robeco Institutional Asset Management B.V. increased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG – Get Rating) by 176.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,937 shares of the technology company's stock after purchasing an additional 15,287 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Pure Storage were worth $656,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Whittier Trust Co. increased its holdings in shares of Pure Storage by 286.8% in the third quarter. Whittier Trust Co. now owns 1,176 shares of the technology company's stock valued at $32,000 after purchasing an additional 872 shares during the period. Parkside Financial Bank & Trust acquired a new position in Pure Storage during the first quarter worth $33,000. Banque Cantonale Vaudoise purchased a new stake in Pure Storage during the third quarter worth $38,000. Cullen Frost Bankers Inc. purchased a new stake in Pure Storage during the second quarter worth $41,000. Finally, Allworth Financial LP boosted its position in Pure Storage by 40.4% during the second quarter. Allworth Financial LP now owns 1,835 shares of the technology company's stock worth $47,000 after purchasing an additional 528 shares in the last quarter. Hedge funds and other institutional investors own 84.96% of the company's stock.

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Analysts Set New Price Targets

Several analysts have recently issued reports on PSTG shares. Morgan Stanley upgraded Pure Storage from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $35.00 to $37.00 in a research report on Monday, October 31st. StockNews.com upgraded Pure Storage from a "hold" rating to a "buy" rating in a research report on Tuesday. JPMorgan Chase & Co. reduced their price objective on Pure Storage from $43.00 to $40.00 and set an "overweight" rating on the stock in a research report on Friday, November 25th. Wedbush upped their price objective on Pure Storage to $36.00 in a research report on Friday, December 2nd. Finally, Susquehanna Bancshares upped their target price on Pure Storage from $40.00 to $44.00 in a research note on Thursday, December 1st. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $38.94.

Insider Buying and Selling at Pure Storage

In related news, CRO Dan Fitzsimons sold 10,918 shares of the company's stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $27.62, for a total value of $301,555.16. Following the completion of the transaction, the executive now directly owns 119,217 shares of the company's stock, valued at approximately $3,292,773.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CRO Dan Fitzsimons sold 10,918 shares of Pure Storage stock in a transaction that occurred on Wednesday, December 21st. The shares were sold at an average price of $27.62, for a total value of $301,555.16. Following the transaction, the executive now directly owns 119,217 shares of the company's stock, valued at $3,292,773.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew William Fraser Brown sold 9,930 shares of Pure Storage stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $27.28, for a total transaction of $270,890.40. Following the transaction, the director now owns 45,518 shares in the company, valued at approximately $1,241,731.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,170 shares of company stock worth $1,605,075. Insiders own 6.80% of the company's stock.

Pure Storage Trading Down 0.2 %

NYSE PSTG opened at $26.46 on Friday. The stock's 50 day moving average is $28.74 and its two-hundred day moving average is $28.45. The company has a market capitalization of $8.01 billion, a price-to-earnings ratio of 661.67, a PEG ratio of 5.72 and a beta of 1.28. Pure Storage, Inc. has a 1-year low of $21.90 and a 1-year high of $36.71.

Pure Storage (NYSE:PSTG – Get Rating) last released its quarterly earnings data on Wednesday, November 30th. The technology company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.09. The company had revenue of $676.05 million for the quarter, compared to the consensus estimate of $671.84 million. Pure Storage had a return on equity of 13.11% and a net margin of 0.51%. On average, analysts predict that Pure Storage, Inc. will post 0.22 earnings per share for the current year.

Pure Storage 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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