Meeder Asset Management Inc. Invests $757,000 in Pure Storage, Inc. $PSTG

Meeder Asset Management Inc. bought a new position in Pure Storage, Inc. (NYSE:PSTG) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 9,027 shares of the technology company’s stock, valued at approximately $757,000.

Several other hedge funds have also bought and sold shares of PSTG. Integrated Wealth Concepts LLC bought a new position in shares of Pure Storage in the first quarter worth about $541,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Pure Storage by 129.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,742 shares of the technology company’s stock worth $387,000 after acquiring an additional 4,926 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Pure Storage by 109.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the technology company’s stock worth $50,377,000 after purchasing an additional 595,307 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Pure Storage by 4.2% in the first quarter. Empowered Funds LLC now owns 4,790 shares of the technology company’s stock worth $212,000 after purchasing an additional 194 shares in the last quarter. Finally, Voya Investment Management LLC raised its position in shares of Pure Storage by 13.6% during the 1st quarter. Voya Investment Management LLC now owns 390,806 shares of the technology company’s stock valued at $17,301,000 after purchasing an additional 46,723 shares during the period. Institutional investors own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PSTG. Barclays upped their target price on shares of Pure Storage from $70.00 to $77.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 3rd. Citigroup dropped their price objective on Pure Storage from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, December 3rd. Wedbush lifted their target price on Pure Storage from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. Evercore ISI restated an “outperform” rating on shares of Pure Storage in a research note on Wednesday, December 3rd. Finally, Wells Fargo & Company increased their price objective on shares of Pure Storage from $80.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, September 26th. Thirteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Pure Storage presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.26.

Insiders Place Their Bets

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $71.31, for a total transaction of $7,131,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ajay Singh sold 7,178 shares of Pure Storage stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total transaction of $481,930.92. Following the completion of the transaction, the insider directly owned 215,091 shares of the company’s stock, valued at $14,441,209.74. The trade was a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 207,178 shares of company stock worth $16,771,931. 5.60% of the stock is owned by insiders.

Pure Storage Trading Up 8.1%

Shares of Pure Storage stock opened at $72.38 on Tuesday. The firm has a market cap of $23.90 billion, a PE ratio of 190.47, a PEG ratio of 7.44 and a beta of 1.26. The stock has a 50 day moving average of $76.61 and a 200 day moving average of $74.32. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $100.59.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings data on Tuesday, September 9th. The technology company reported $0.44 earnings per share (EPS) for the quarter. The business had revenue of $763.77 million for the quarter. Pure Storage had a return on equity of 10.60% and a net margin of 3.74%. As a group, equities research analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Pure Storage Company Profile

Pure Storage, Inc (NYSE: PSTG) is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays that are engineered to deliver high performance, low latency and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics and large-scale file/object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.