Police & Firemen s Retirement System of New Jersey Purchases 6,828 Shares of Pure Storage, Inc. $PSTG

Police & Firemen s Retirement System of New Jersey raised its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 6.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,848 shares of the technology company’s stock after purchasing an additional 6,828 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Pure Storage were worth $6,786,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of PSTG. LPL Financial LLC raised its holdings in Pure Storage by 22.6% in the 1st quarter. LPL Financial LLC now owns 118,368 shares of the technology company’s stock valued at $5,240,000 after buying an additional 21,812 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Pure Storage by 13.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 275,796 shares of the technology company’s stock valued at $12,209,000 after acquiring an additional 32,611 shares during the last quarter. Crumly & Associates Inc. acquired a new position in shares of Pure Storage during the second quarter worth $242,000. Michael S. Ryan Inc. acquired a new position in shares of Pure Storage during the second quarter worth $254,000. Finally, Brighton Jones LLC bought a new stake in shares of Pure Storage in the second quarter worth $359,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insiders Place Their Bets

In related news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $91.59, for a total value of $9,159,000.00. Following the transaction, the insider owned 100,000 shares of the company’s stock, valued at approximately $9,159,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ajay Singh sold 7,014 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $85.85, for a total value of $602,151.90. Following the sale, the insider directly owned 229,307 shares of the company’s stock, valued at $19,686,005.95. This represents a 2.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 443,111 shares of company stock worth $36,793,439 in the last quarter. Insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Barclays lifted their target price on Pure Storage from $57.00 to $70.00 and gave the stock an “equal weight” rating in a report on Friday, August 29th. JPMorgan Chase & Co. upped their target price on Pure Storage from $80.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. UBS Group set a $110.00 target price on shares of Pure Storage in a research report on Tuesday, October 21st. Weiss Ratings restated a “hold (c)” rating on shares of Pure Storage in a research report on Wednesday, October 8th. Finally, Bank of America increased their price objective on shares of Pure Storage from $76.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, August 28th. Twelve research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.65.

Pure Storage Stock Up 0.6%

Shares of NYSE PSTG opened at $84.48 on Friday. The firm has a market cap of $27.76 billion, a PE ratio of 206.06, a P/E/G ratio of 8.99 and a beta of 1.24. The company’s fifty day simple moving average is $89.25 and its 200 day simple moving average is $68.15. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $100.59.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Tuesday, September 9th. The technology company reported $0.44 earnings per share for the quarter. The firm had revenue of $763.77 million for the quarter. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. On average, equities analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Pure Storage Profile

Pure Storage, Inc engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.