8,817 Shares in Pure Storage, Inc. $PSTG Acquired by Evergreen Capital Management LLC

Evergreen Capital Management LLC purchased a new stake in Pure Storage, Inc. (NYSE:PSTG) during the third quarter, HoldingsChannel reports. The firm purchased 8,817 shares of the technology company’s stock, valued at approximately $739,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Pure Storage in the second quarter valued at $225,203,000. Atreides Management LP bought a new position in Pure Storage in the 2nd quarter valued at about $204,552,000. William Blair Investment Management LLC raised its holdings 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 acquiring an additional 2,612,300 shares during the period. Federated Hermes Inc. lifted its position in Pure Storage by 1,560.9% during the second quarter. Federated Hermes Inc. now owns 1,343,658 shares of the technology company’s stock worth $77,368,000 after acquiring an additional 1,262,758 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings 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 acquiring an additional 1,188,126 shares during the period. 83.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PSTG has been the topic of a number of recent research reports. Piper Sandler set a $92.00 target price on Pure Storage and gave the stock an “overweight” rating in a research note on Thursday, September 25th. Wall Street Zen upgraded Pure Storage from a “hold” rating to a “buy” rating in a research report on Saturday, December 20th. Citigroup reduced their target price on shares of Pure Storage from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, December 3rd. Oppenheimer started coverage on shares of Pure Storage in a research report on Monday, November 17th. They set an “outperform” rating and a $120.00 price target on the stock. Finally, Morgan Stanley set a $83.00 price objective on shares of Pure Storage in a report on Wednesday, December 3rd. Thirteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.26.

Pure Storage Price Performance

Shares of PSTG opened at $73.13 on Tuesday. The firm has a 50 day simple moving average of $74.56 and a two-hundred day simple moving average of $74.91. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $100.59. The company has a market cap of $24.15 billion, a P/E ratio of 192.45, a P/E/G ratio of 8.09 and a beta of 1.26.

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

Insider Transactions at Pure Storage

In related news, insider Ajay Singh sold 7,178 shares of Pure Storage stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total transaction of $481,930.92. Following the sale, the insider directly owned 215,091 shares of the company’s stock, valued at approximately $14,441,209.74. The trade was a 3.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $71.31, for a total transaction of $7,131,000.00. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 207,178 shares of company stock worth $16,771,931. Company insiders own 5.60% of the company’s stock.

About Pure Storage

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.