Bryce Point Capital LLC Takes $593,000 Position in Pure Storage, Inc. $PSTG

Bryce Point Capital LLC acquired a new stake in shares of Pure Storage, Inc. (NYSE:PSTG) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 7,076 shares of the technology company’s stock, valued at approximately $593,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in shares of Pure Storage by 8.3% in the 3rd quarter. Versant Capital Management Inc now owns 1,598 shares of the technology company’s stock worth $134,000 after buying an additional 122 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Pure Storage by 40.1% during the third quarter. Smartleaf Asset Management LLC now owns 468 shares of the technology company’s stock worth $39,000 after acquiring an additional 134 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Pure Storage by 0.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,756 shares of the technology company’s stock worth $3,667,000 after acquiring an additional 152 shares during the period. State of Wyoming raised its position in Pure Storage by 10.3% in the third quarter. State of Wyoming now owns 1,673 shares of the technology company’s stock worth $140,000 after acquiring an additional 156 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in Pure Storage by 11.8% in the 3rd quarter. Global Retirement Partners LLC now owns 1,530 shares of the technology company’s stock valued at $128,000 after acquiring an additional 162 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Tigress Financial set a $105.00 target price on shares of Pure Storage in a report on Wednesday, December 3rd. JPMorgan Chase & Co. decreased their price target on shares of Pure Storage from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 3rd. Northland Securities set a $77.00 price objective on Pure Storage in a research report on Wednesday, December 3rd. UBS Group lifted their target price on Pure Storage from $55.00 to $60.00 and gave the stock a “sell” rating in a report on Wednesday, December 3rd. Finally, Wall Street Zen lowered Pure Storage from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Twelve investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.26.

Insider Buying and Selling at Pure Storage

In other news, insider Ajay Singh sold 7,178 shares of the business’s stock in a transaction 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 transaction, the insider directly owned 215,091 shares in the company, valued at $14,441,209.74. The trade was a 3.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $71.31, for a total value of $7,131,000.00. The SEC filing for this sale provides additional information. Insiders own 5.60% of the company’s stock.

Pure Storage Trading Up 4.9%

NYSE:PSTG opened at $74.46 on Tuesday. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $100.59. The firm has a market capitalization of $24.58 billion, a price-to-earnings ratio of 195.95, a PEG ratio of 5.52 and a beta of 1.27. The business’s fifty day moving average price is $70.54 and its 200 day moving average price is $76.41.

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

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.