Quantbot Technologies LP Buys Shares of 13,632 Pure Storage, Inc. (NYSE:PSTG)
Quantbot Technologies LP purchased 13,632 shares of Pure Storage, Inc. in the 1st quarter, valued at $709,000. Other institutional investors have also modified their holdings of the company. Pure Storage reported positive earnings per share for the quarter and analysts anticipate a 0.47 EPS for the current fiscal year. Several analysts have given the stock a buy rating.
Quantbot Technologies LP purchased a new stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,632 shares of the technology company's stock, valued at approximately $709,000.
- Pure Storage Stock Doubles in 6 Months and Can Double Again
Other institutional investors have also modified their holdings of the company. Graham Capital Management L.P. bought a new position in Pure Storage in the 3rd quarter worth about $240,000. American Century Companies Inc. raised its stake in Pure Storage by 12.0% during the 3rd quarter. American Century Companies Inc. now owns 1,184,198 shares of the technology company's stock valued at $42,181,000 after acquiring an additional 126,795 shares in the last quarter. Wellington Management Group LLP raised its stake in Pure Storage by 173.7% during the 3rd quarter. Wellington Management Group LLP now owns 546,537 shares of the technology company's stock valued at $19,468,000 after acquiring an additional 346,885 shares in the last quarter. Handelsinvest Investeringsforvaltning acquired a new position in Pure Storage during the 4th quarter worth $326,000. Finally, FNY Investment Advisers LLC grew its stake in shares of Pure Storage by 400.0% in the fourth quarter. FNY Investment Advisers LLC now owns 2,500 shares of the technology company's stock worth $89,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors own 83.42% of the company's stock.
Pure Storage Stock Up 0.9 %
PSTG stock opened at $65.81 on Tuesday. Pure Storage, Inc. has a 1 year low of $31.00 and a 1 year high of $70.41. The company has a fifty day simple moving average of $62.63 and a 200 day simple moving average of $52.23. The company has a current ratio of 2.00, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The firm has a market cap of $21.40 billion, a PE ratio of 235.04, a PEG ratio of 6.57 and a beta of 1.11.
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Pure Storage (NYSE:PSTG - Get Free Report) last issued its quarterly earnings data on Wednesday, May 29th. The technology company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.02. The business had revenue of $693.48 million for the quarter, compared to the consensus estimate of $681.37 million. Pure Storage had a return on equity of 15.34% and a net margin of 3.19%. Sell-side analysts anticipate that Pure Storage, Inc. will post 0.47 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on PSTG shares. KeyCorp increased their target price on shares of Pure Storage from $64.00 to $79.00 and gave the company an "overweight" rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. increased their price objective on shares of Pure Storage from $50.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, May 30th. Raymond James boosted their price objective on Pure Storage from $63.00 to $73.00 and gave the stock an "outperform" rating in a research note on Thursday, May 30th. Northland Capmk lowered shares of Pure Storage from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 30th. Finally, StockNews.com raised Pure Storage from a "hold" rating to a "buy" rating in a research note on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $69.11.
- Pure Storage Stock Spikes and Analysts are Jumping on Board
View Our Latest Report on PSTG
Insider Activity at Pure Storage
In other Pure Storage news, Director Mallun Yen sold 4,818 shares of the business's stock in a transaction on Friday, June 7th. The shares were sold at an average price of $64.78, for a total transaction of $312,110.04. Following the completion of the transaction, the director now owns 35,498 shares of the company's stock, valued at approximately $2,299,560.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Pure Storage news, CFO P. Kevan Krysler sold 14,296 shares of Pure Storage stock in a transaction on Friday, July 5th. The shares were sold at an average price of $63.79, for a total transaction of $911,941.84. Following the sale, the chief financial officer now owns 518,623 shares in the company, valued at $33,082,961.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mallun Yen sold 4,818 shares of the business's stock in a transaction on Friday, June 7th. The shares were sold at an average price of $64.78, for a total transaction of $312,110.04. Following the completion of the sale, the director now directly owns 35,498 shares in the company, valued at approximately $2,299,560.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,400 shares of company stock worth $2,031,153. 6.00% of the stock is owned by insiders.
About Pure Storage
(Free Report)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.
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