Maple Rock Capital Partners Inc. boosted its stake in Pure Storage Inc (NYSE:PSTG) by 37.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,100,000 shares of the technology company’s stock after purchasing an additional 300,000 shares during the period. Pure Storage comprises about 5.8% of Maple Rock Capital Partners Inc.’s holdings, making the stock its 11th largest holding. Maple Rock Capital Partners Inc. owned about 0.51% of Pure Storage worth $17,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently modified their holdings of the stock. Fortaleza Asset Management Inc. bought a new position in shares of Pure Storage during the fourth quarter valued at $154,000. Ardsley Advisory Partners bought a new position in shares of Pure Storage during the fourth quarter valued at $159,000. SG Americas Securities LLC bought a new position in shares of Pure Storage during the fourth quarter valued at $162,000. Great West Life Assurance Co. Can raised its stake in shares of Pure Storage by 151.3% during the third quarter. Great West Life Assurance Co. Can now owns 11,310 shares of the technology company’s stock valued at $180,000 after acquiring an additional 6,810 shares during the last quarter. Finally, Invictus RG bought a new position in shares of Pure Storage during the third quarter valued at $187,000. 45.49% of the stock is owned by institutional investors and hedge funds.
PSTG has been the subject of several analyst reports. Barclays raised shares of Pure Storage from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $19.00 to $22.00 in a research note on Wednesday, January 17th. Vetr raised shares of Pure Storage from a “buy” rating to a “strong-buy” rating and set a $23.17 price target for the company in a research note on Thursday, February 1st. Goldman Sachs Group initiated coverage on shares of Pure Storage in a research note on Wednesday, February 7th. They set a “sell” rating and a $16.00 price target for the company. Wells Fargo & Co started coverage on shares of Pure Storage in a research note on Tuesday, November 14th. They set an “outperform” rating and a $22.00 price target for the company. Finally, BMO Capital Markets reissued a “buy” rating and set a $22.00 target price on shares of Pure Storage in a research note on Thursday, March 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $21.31.
Shares of Pure Storage Inc (PSTG) opened at $20.98 on Monday. The company has a market cap of $4,550.00 and a price-to-earnings ratio of -24.11. Pure Storage Inc has a twelve month low of $9.61 and a twelve month high of $22.60.
Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Thursday, March 1st. The technology company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. The business had revenue of $338.30 million during the quarter, compared to analysts’ expectations of $331.80 million. Pure Storage had a negative net margin of 17.36% and a negative return on equity of 38.70%. The business’s quarterly revenue was up 48.4% on a year-over-year basis. During the same period last year, the company posted ($0.02) earnings per share. equities research analysts forecast that Pure Storage Inc will post -0.78 EPS for the current fiscal year.
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About Pure Storage
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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