Corient Private Wealth LLC Has $1.77 Million Holdings in Pure Storage, Inc. $PSTG

Corient Private Wealth LLC raised its holdings in Pure Storage, Inc. (NYSE:PSTG) by 42.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,842 shares of the technology company’s stock after acquiring an additional 9,526 shares during the period. Corient Private Wealth LLC’s holdings in Pure Storage were worth $1,771,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Pure Storage in the 2nd quarter valued at approximately $225,203,000. Atreides Management LP acquired a new position in Pure Storage during the 2nd quarter worth approximately $204,552,000. William Blair Investment Management LLC lifted its stake in Pure Storage by 112.9% in the 2nd quarter. William Blair Investment Management LLC now owns 4,926,836 shares of the technology company’s stock valued at $283,687,000 after purchasing an additional 2,612,300 shares during the last quarter. Federated Hermes Inc. boosted its position in Pure Storage by 1,560.9% in the second quarter. Federated Hermes Inc. now owns 1,343,658 shares of the technology company’s stock valued at $77,368,000 after buying an additional 1,262,758 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Pure Storage by 158.4% during the second quarter. AQR Capital Management LLC now owns 1,938,125 shares of the technology company’s stock worth $110,473,000 after buying an additional 1,188,126 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Pure Storage Stock Performance

Shares of NYSE PSTG opened at $67.22 on Wednesday. The company’s 50 day moving average price is $83.86 and its 200-day moving average price is $72.88. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $100.59. The company has a market capitalization of $22.19 billion, a P/E ratio of 176.88, a price-to-earnings-growth ratio of 7.52 and a beta of 1.27.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on Pure Storage from $80.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, September 26th. Bank of America boosted their price target on Pure Storage from $76.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, August 28th. Citigroup dropped their price objective on shares of Pure Storage from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, December 3rd. Wall Street Zen upgraded shares of Pure Storage from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, UBS Group upped their price target on shares of Pure Storage from $55.00 to $60.00 and gave the company a “sell” rating in a research report on Wednesday, December 3rd. Thirteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $95.26.

Insider Activity at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $71.31, for a total transaction of $7,131,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ajay Singh sold 7,178 shares of the firm’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total transaction of $481,930.92. Following the completion of the sale, the insider owned 215,091 shares of the company’s stock, valued at $14,441,209.74. The trade was a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 316,269 shares of company stock worth $26,792,848 in the last 90 days. Corporate insiders own 5.60% of the company’s stock.

Pure Storage Company Profile

Pure Storage, Inc (NYSE: PSTG) is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays that are engineered to deliver high performance, low latency and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics and large-scale file/object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.