BlackRock Inc. lifted its holdings in Pure Storage Inc (NYSE:PSTG) by 11.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,162,210 shares of the technology company’s stock after purchasing an additional 1,598,653 shares during the period. BlackRock Inc. owned 7.46% of Pure Storage worth $256,332,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Parametric Portfolio Associates LLC acquired a new stake in Pure Storage during the second quarter worth about $237,000. State Street Corp grew its position in Pure Storage by 35.1% during the second quarter. State Street Corp now owns 1,602,236 shares of the technology company’s stock worth $20,528,000 after buying an additional 416,577 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Pure Storage by 33.4% during the second quarter. The Manufacturers Life Insurance Company now owns 75,526 shares of the technology company’s stock worth $968,000 after buying an additional 18,918 shares in the last quarter. California State Teachers Retirement System grew its position in Pure Storage by 22.9% during the second quarter. California State Teachers Retirement System now owns 164,907 shares of the technology company’s stock worth $2,112,000 after buying an additional 30,691 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Pure Storage by 1,923.2% during the third quarter. First Trust Advisors LP now owns 315,754 shares of the technology company’s stock worth $5,049,000 after buying an additional 300,147 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.
In other news, CFO Timothy Riitters sold 11,749 shares of Pure Storage stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $16.74, for a total value of $196,678.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott Dietzen sold 125,000 shares of Pure Storage stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $21.37, for a total transaction of $2,671,250.00. The disclosure for this sale can be found here. Insiders sold 646,955 shares of company stock valued at $12,004,424 in the last quarter. 41.47% of the stock is currently owned by corporate insiders.
Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Thursday, March 1st. The technology company reported $0.13 earnings per share 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 company had revenue of $338.30 million for the quarter, compared to the consensus estimate of $331.80 million. During the same period in the previous year, the business earned ($0.02) earnings per share. The company’s quarterly revenue was up 48.4% on a year-over-year basis. equities research analysts predict that Pure Storage Inc will post -0.78 EPS for the current fiscal year.
A number of research firms recently weighed in on PSTG. Barclays lifted their target price on Pure Storage from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, March 2nd. Bank of America lifted their target price on Pure Storage from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, March 2nd. Wells Fargo & Co began coverage on Pure Storage in a research report on Tuesday, November 14th. They set an “outperform” rating and a $22.00 target price on the stock. Maxim Group reissued a “hold” rating and set a $20.00 target price (up from $15.00) on shares of Pure Storage in a research report on Wednesday, November 29th. Finally, UBS Group reissued a “buy” rating and set a $22.00 target price (up from $18.00) on shares of Pure Storage in a research report on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $21.31.
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Pure Storage 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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