Pure Storage, Inc. $PSTG Stock Position Raised by California Public Employees Retirement System

California Public Employees Retirement System increased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 38.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 523,192 shares of the technology company’s stock after acquiring an additional 144,228 shares during the quarter. California Public Employees Retirement System owned approximately 0.16% of Pure Storage worth $30,125,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mechanics Financial Corp acquired a new stake in shares of Pure Storage during the 2nd quarter worth approximately $25,000. True Wealth Design LLC boosted its position in Pure Storage by 402.8% during the 2nd quarter. True Wealth Design LLC now owns 548 shares of the technology company’s stock valued at $32,000 after purchasing an additional 439 shares during the period. SouthState Corp grew its stake in Pure Storage by 474.8% during the 2nd quarter. SouthState Corp now owns 592 shares of the technology company’s stock worth $34,000 after buying an additional 489 shares during the last quarter. REAP Financial Group LLC increased its position in Pure Storage by 49.0% in the second quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock worth $35,000 after buying an additional 201 shares during the period. Finally, Ramirez Asset Management Inc. lifted its stake in Pure Storage by 40.0% in the second quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company’s stock valued at $40,000 after buying an additional 200 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Pure Storage Stock Performance

Shares of PSTG stock opened at $73.65 on Thursday. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $100.59. The stock has a market cap of $24.20 billion, a PE ratio of 193.81, a price-to-earnings-growth ratio of 7.84 and a beta of 1.27. The business’s fifty day moving average is $87.68 and its 200-day moving average is $71.83.

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

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Barclays upped their price target on shares of Pure Storage from $70.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 3rd. Morgan Stanley set a $83.00 price target on shares of Pure Storage in a research note on Wednesday, December 3rd. Raymond James Financial lifted their price target on Pure Storage from $88.00 to $99.00 and gave the company an “outperform” rating in a report on Friday, October 17th. UBS Group increased their price objective on Pure Storage from $55.00 to $60.00 and gave the stock a “sell” rating in a report on Wednesday, December 3rd. Finally, Cowen reaffirmed a “buy” rating on shares of Pure Storage in a research note on Wednesday, December 3rd. Thirteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Pure Storage presently has an average rating of “Moderate Buy” and an average target price of $95.26.

Insider Buying and Selling at Pure Storage

In other news, CRO Dan Fitzsimons sold 6,051 shares of Pure Storage stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $87.42, for a total value of $528,978.42. Following the transaction, the executive owned 62,759 shares of the company’s stock, valued at $5,486,391.78. The trade was a 8.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $87.33, for a total transaction of $8,733,000.00. Following the completion of the sale, the insider owned 300,000 shares in the company, valued at $26,199,000. The trade was a 25.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 427,311 shares of company stock worth $36,629,100. Company insiders own 5.60% of the company’s stock.

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.