Caxton Associates LLP Purchases Shares of 175,529 Pure Storage, Inc. $PSTG

Caxton Associates LLP purchased a new position in shares of Pure Storage, Inc. (NYSE:PSTG) in the second quarter, according to its most recent filing with the SEC. The firm purchased 175,529 shares of the technology company’s stock, valued at approximately $10,107,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in shares of Pure Storage during the 1st quarter valued at about $232,000. Nuveen LLC bought a new position in shares of Pure Storage during the 1st quarter worth approximately $32,410,000. HighTower Advisors LLC grew its position in shares of Pure Storage by 1.0% during the 1st quarter. HighTower Advisors LLC now owns 30,427 shares of the technology company’s stock worth $1,347,000 after buying an additional 313 shares during the period. Resona Asset Management Co. Ltd. increased its stake in shares of Pure Storage by 7.5% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 92,592 shares of the technology company’s stock valued at $4,121,000 after acquiring an additional 6,421 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Pure Storage by 33.9% during the 1st quarter. Russell Investments Group Ltd. now owns 212,813 shares of the technology company’s stock valued at $9,421,000 after acquiring an additional 53,878 shares during the period. 83.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 6,051 shares of the firm’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $87.42, for a total value of $528,978.42. Following the completion of the sale, the executive directly owned 62,759 shares of the company’s stock, valued at $5,486,391.78. This trade represents a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Mona Chu sold 9,091 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $84.91, for a total value of $771,916.81. Following the completion of the sale, the chief accounting officer owned 107,353 shares in the company, valued at approximately $9,115,343.23. The trade was a 7.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 427,311 shares of company stock worth $36,629,100. Company insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on PSTG. Susquehanna set a $105.00 price target on shares of Pure Storage in a report on Wednesday, December 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pure Storage in a research report on Wednesday, October 8th. Tigress Financial set a $105.00 target price on shares of Pure Storage in a report on Wednesday, December 3rd. UBS Group boosted their price target on shares of Pure Storage from $55.00 to $60.00 and gave the stock a “sell” rating in a report on Wednesday, December 3rd. Finally, Piper Sandler set a $92.00 price objective on shares of Pure Storage and gave the stock an “overweight” rating in a research report on Thursday, September 25th. Thirteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $95.26.

Pure Storage Stock Performance

Shares of NYSE:PSTG opened at $71.25 on Friday. The company has a market capitalization of $23.42 billion, a P/E ratio of 187.50, a price-to-earnings-growth ratio of 7.97 and a beta of 1.27. The company’s 50-day moving average is $87.12 and its 200 day moving average is $72.09. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $100.59.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Tuesday, September 9th. The technology company reported $0.44 EPS for the quarter. The business 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, research analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

About Pure Storage

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.