Eaton Vance Management Raises Stock Position in Pure Storage, Inc. (NYSE:PSTG)


Share on StockTwits

Eaton Vance Management boosted its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 17.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,770,973 shares of the technology company’s stock after acquiring an additional 268,853 shares during the period. Eaton Vance Management owned 0.65% of Pure Storage worth $40,042,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Norges Bank purchased a new position in Pure Storage during the fourth quarter valued at approximately $62,124,000. UBS Asset Management Americas Inc. grew its stake in Pure Storage by 24.4% during the fourth quarter. UBS Asset Management Americas Inc. now owns 343,293 shares of the technology company’s stock valued at $7,762,000 after acquiring an additional 67,372 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Pure Storage by 5.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,211,043 shares of the technology company’s stock valued at $27,384,000 after acquiring an additional 66,048 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Pure Storage during the fourth quarter valued at approximately $283,000. Finally, Truist Financial Corp purchased a new position in Pure Storage during the fourth quarter valued at approximately $481,000. 85.50% of the stock is owned by institutional investors.

NYSE:PSTG opened at $21.63 on Thursday. The company has a fifty day moving average of $22.96 and a 200 day moving average of $21.13. Pure Storage, Inc. has a 52 week low of $11.96 and a 52 week high of $29.53. The company has a quick ratio of 2.58, a current ratio of 2.64 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $6.06 billion, a P/E ratio of -24.30 and a beta of 1.47.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings data on Wednesday, February 24th. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.25. Pure Storage had a negative net margin of 14.01% and a negative return on equity of 19.09%. As a group, analysts anticipate that Pure Storage, Inc. will post -0.71 EPS for the current year.

PSTG has been the subject of a number of research reports. Credit Suisse Group boosted their price target on shares of Pure Storage from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 3rd. KeyCorp boosted their price target on shares of Pure Storage from $23.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 3rd. Wells Fargo & Company boosted their price target on shares of Pure Storage from $22.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, February 11th. Morgan Stanley boosted their price target on shares of Pure Storage from $25.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 4th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Pure Storage from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Monday, March 15th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $26.41.

In other Pure Storage news, Director Scott Dietzen sold 25,000 shares of the business’s stock in a transaction on Thursday, January 21st. The shares were sold at an average price of $22.88, for a total transaction of $572,000.00. Following the transaction, the director now directly owns 75,100 shares of the company’s stock, valued at approximately $1,718,288. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 10.00% of the stock is currently owned by insiders.

Pure Storage Profile

Pure Storage, Inc provides technology and data storage solutions in the United States and internationally. It delivers solutions based on proprietary Purity Operating Environment Software that implements enterprise-class storage services, such as data reduction, encryption, and protection, as well as protocol services, including block, file, and object.

Read More: Hedge Funds – Risk or Reward?

Want to see what other hedge funds are holding PSTG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pure Storage, Inc. (NYSE:PSTG).

Institutional Ownership by Quarter for Pure Storage (NYSE:PSTG)

Receive News & Ratings for Pure Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pure Storage and related companies with MarketBeat.com's FREE daily email newsletter.