Two Sigma Investments LP raised its holdings in Pure Storage Inc (NYSE:PSTG) by 15.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,782,654 shares of the technology company’s stock after buying an additional 244,884 shares during the quarter. Two Sigma Investments LP owned 0.82% of Pure Storage worth $28,273,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Fortaleza Asset Management Inc. acquired a new stake in shares of Pure Storage during the 4th quarter worth approximately $154,000. SG Americas Securities LLC bought a new position in Pure Storage in the 4th quarter valued at $162,000. Great West Life Assurance Co. Can raised its position in Pure Storage by 151.3% in the 3rd quarter. Great West Life Assurance Co. Can now owns 11,310 shares of the technology company’s stock valued at $180,000 after purchasing an additional 6,810 shares during the last quarter. Invictus RG bought a new position in Pure Storage in the 3rd quarter valued at $187,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in Pure Storage in the 3rd quarter valued at $205,000. 45.48% of the stock is currently owned by institutional investors.
In other news, President David Hatfield sold 2,169 shares of the business’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $16.49, for a total value of $35,766.81. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Scott Dietzen sold 125,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were 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. Over the last 90 days, insiders sold 765,206 shares of company stock worth $14,651,246. Corporate insiders own 41.47% of the company’s stock.
A number of equities research analysts have recently weighed in on PSTG shares. Robert W. Baird restated a “neutral” rating and set a $22.00 target price (up previously from $20.00) on shares of Pure Storage in a research report on Friday, March 2nd. Barclays upgraded Pure Storage from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $19.00 to $22.00 in a research report on Wednesday, January 17th. Oppenheimer restated a “buy” rating and set a $21.00 target price on shares of Pure Storage in a research report on Wednesday, November 29th. TheStreet upgraded Pure Storage from a “d” rating to a “c-” rating in a research report on Thursday, March 1st. Finally, BMO Capital Markets boosted their target price on Pure Storage from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Pure Storage currently has a consensus rating of “Buy” and a consensus target price of $21.29.
Pure Storage stock traded down $0.08 during trading hours on Thursday, reaching $19.93. The company’s stock had a trading volume of 1,839,237 shares, compared to its average volume of 2,853,661. Pure Storage Inc has a 1 year low of $9.61 and a 1 year high of $22.60. The firm has a market capitalization of $4,355.15, a PE ratio of -23.71 and a beta of 1.23.
Pure Storage (NYSE:PSTG) last posted its earnings results on Thursday, March 1st. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $338.30 million during the quarter, compared to analysts’ expectations of $331.80 million. During the same period in the previous year, the firm earned ($0.02) earnings per share. The company’s revenue was up 48.4% on a year-over-year basis. equities analysts predict that Pure Storage Inc will post -0.79 earnings per share for the current year.
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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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