National Pension Service Purchases 29,834 Shares of Pure Storage, Inc. $PSTG

National Pension Service raised its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 65.5% in the third quarter, HoldingsChannel reports. The firm owned 75,393 shares of the technology company’s stock after buying an additional 29,834 shares during the quarter. National Pension Service’s holdings in Pure Storage were worth $6,319,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Winnow Wealth LLC bought a new position in shares of Pure Storage in the 3rd quarter worth approximately $26,000. Arizona State Retirement System increased its holdings in Pure Storage by 1.5% during the third quarter. Arizona State Retirement System now owns 91,924 shares of the technology company’s stock valued at $7,704,000 after buying an additional 1,398 shares during the last quarter. Archer Investment Corp raised its position in Pure Storage by 15.1% in the third quarter. Archer Investment Corp now owns 2,819 shares of the technology company’s stock worth $236,000 after acquiring an additional 369 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Pure Storage by 3.9% during the 3rd quarter. New York State Common Retirement Fund now owns 168,754 shares of the technology company’s stock worth $14,143,000 after acquiring an additional 6,300 shares during the last quarter. Finally, TD Waterhouse Canada Inc. grew its position in shares of Pure Storage by 3,374.8% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 3,718 shares of the technology company’s stock valued at $319,000 after acquiring an additional 3,611 shares during the period. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PSTG. Barclays raised their target price on Pure Storage from $70.00 to $77.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 3rd. Wedbush raised their price objective on Pure Storage from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 3rd. JPMorgan Chase & Co. cut their price objective on Pure Storage from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday, December 3rd. UBS Group increased their target price 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, Tigress Financial set a $105.00 price target on shares of Pure Storage in a report on Wednesday, December 3rd. Twelve analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Pure Storage currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.26.

Pure Storage Trading Down 2.8%

Shares of PSTG opened at $68.40 on Wednesday. The business’s 50 day moving average is $71.98 and its 200 day moving average is $76.05. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $100.59. The company has a market capitalization of $22.58 billion, a PE ratio of 180.01, a price-to-earnings-growth ratio of 5.47 and a beta of 1.27.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings results 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.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 7,178 shares of the stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total transaction of $481,930.92. Following the completion of the transaction, the insider owned 215,091 shares of the company’s stock, valued at $14,441,209.74. This represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $71.31, for a total value of $7,131,000.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 207,178 shares of company stock valued at $16,771,931 over the last ninety days. 5.60% of the stock is currently owned by corporate insiders.

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.