Aberdeen Group plc Has $21.11 Million Stock Position in Pure Storage, Inc. $PSTG

Aberdeen Group plc lifted its holdings in Pure Storage, Inc. (NYSE:PSTG) by 4.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 254,619 shares of the technology company’s stock after purchasing an additional 11,316 shares during the period. Aberdeen Group plc’s holdings in Pure Storage were worth $21,110,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PSTG. Winnow Wealth LLC bought a new position in Pure Storage during the third quarter valued at about $26,000. Assetmark Inc. boosted its stake in shares of Pure Storage by 186.6% during the 3rd quarter. Assetmark Inc. now owns 341 shares of the technology company’s stock worth $29,000 after acquiring an additional 222 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of Pure Storage by 402.8% during the 2nd quarter. True Wealth Design LLC now owns 548 shares of the technology company’s stock valued at $32,000 after acquiring an additional 439 shares during the last quarter. SouthState Corp raised its stake in shares of Pure Storage by 474.8% in the 2nd quarter. SouthState Corp now owns 592 shares of the technology company’s stock valued at $34,000 after acquiring an additional 489 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Pure Storage by 40.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 468 shares of the technology company’s stock worth $39,000 after purchasing an additional 134 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PSTG. Tigress Financial set a $105.00 target price on Pure Storage in a research report on Wednesday, December 3rd. Susquehanna set a $105.00 price objective on shares of Pure Storage in a report on Wednesday, December 3rd. Citigroup lowered their target price on shares of Pure Storage from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Pure Storage in a report on Wednesday, December 3rd. Finally, Wall Street Zen lowered shares of 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $94.47.

Pure Storage Trading Down 1.6%

Shares of PSTG stock opened at $72.67 on Wednesday. The firm has a market capitalization of $23.99 billion, a P/E ratio of 191.24, a price-to-earnings-growth ratio of 5.76 and a beta of 1.27. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $100.59. The firm’s fifty day simple moving average is $70.40 and its 200 day simple moving average is $77.05.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Tuesday, December 2nd. The technology company reported $0.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.58. Pure Storage had a net margin of 3.74% and a return on equity of 10.60%. The company had revenue of $964.45 million for the quarter, compared to analyst estimates of $955.60 million. During the same period last year, the business posted $0.50 EPS. The business’s quarterly revenue was up 16.1% on a year-over-year basis. Equities research analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Insider Transactions at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 7,178 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total value 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 legal filing with the SEC, which is available at this link. Also, insider John Colgrove sold 100,000 shares of the firm’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 value of $7,131,000.00. The disclosure for this sale is available in the SEC filing. 5.60% of the stock is owned by company insiders.

Pure Storage 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.