Arrowstreet Capital Limited Partnership Purchases Shares of 454,117 Pure Storage, Inc. $PSTG

Arrowstreet Capital Limited Partnership acquired a new position in shares of Pure Storage, Inc. (NYSE:PSTG) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 454,117 shares of the technology company’s stock, valued at approximately $26,148,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. LPL Financial LLC grew its stake in shares of Pure Storage by 22.6% in the first quarter. LPL Financial LLC now owns 118,368 shares of the technology company’s stock valued at $5,240,000 after acquiring an additional 21,812 shares in the last quarter. ASR Vermogensbeheer N.V. acquired a new position in shares of Pure Storage during the 1st quarter worth approximately $287,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Pure Storage by 6.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,461,500 shares of the technology company’s stock worth $64,701,000 after purchasing an additional 85,851 shares during the period. Deutsche Bank AG increased its holdings in shares of Pure Storage by 0.3% during the first quarter. Deutsche Bank AG now owns 607,469 shares of the technology company’s stock worth $26,893,000 after purchasing an additional 1,916 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of Pure Storage in the first quarter valued at approximately $129,000. 83.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. UBS Group raised their price objective on Pure Storage from $55.00 to $60.00 and gave the stock a “sell” rating in a research note on Wednesday. Guggenheim raised their price target on Pure Storage from $93.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. TD Cowen boosted their price target on Pure Storage from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Pure Storage in a research note on Wednesday, October 8th. Finally, Oppenheimer assumed coverage on shares of Pure Storage in a report on Monday, November 17th. They issued an “outperform” rating and a $120.00 target price on the stock. Thirteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.26.

Insider Activity at Pure Storage

In other news, insider Ajay Singh sold 7,014 shares of Pure Storage stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $85.85, for a total transaction of $602,151.90. Following the sale, the insider directly owned 229,307 shares of the company’s stock, valued at approximately $19,686,005.95. This trade represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $91.59, for a total value of $9,159,000.00. Following the completion of the transaction, the insider directly owned 100,000 shares of the company’s stock, valued at $9,159,000. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 327,311 shares of company stock worth $29,498,100. Corporate insiders own 5.60% of the company’s stock.

Pure Storage Stock Down 2.5%

Pure Storage stock opened at $70.37 on Friday. The stock has a market cap of $23.13 billion, a PE ratio of 185.18, a P/E/G ratio of 6.55 and a beta of 1.27. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $100.59. The business’s 50-day moving average price is $88.43 and its two-hundred day moving average price is $71.50.

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

Pure Storage Profile

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.