Pure Storage, Inc. $PSTG Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. increased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 1.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 33,891,025 shares of the technology company’s stock after purchasing an additional 623,019 shares during the quarter. Vanguard Group Inc. owned about 0.10% of Pure Storage worth $2,840,407,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PSTG. Winnow Wealth LLC acquired a new position in Pure Storage in the third quarter valued at $26,000. Assetmark Inc. raised its holdings in Pure Storage by 186.6% in the third quarter. Assetmark Inc. now owns 341 shares of the technology company’s stock valued at $29,000 after buying an additional 222 shares during the period. True Wealth Design LLC lifted its position in Pure Storage by 402.8% during the second quarter. True Wealth Design LLC now owns 548 shares of the technology company’s stock valued at $32,000 after buying an additional 439 shares in the last quarter. SouthState Corp grew its stake in Pure Storage by 474.8% during the second quarter. SouthState Corp now owns 592 shares of the technology company’s stock worth $34,000 after buying an additional 489 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in shares of Pure Storage by 40.1% in 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 in the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $72.69 on Thursday. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $100.59. The business has a 50 day moving average price of $70.38 and a two-hundred day moving average price of $77.02. The firm has a market cap of $24.00 billion, a PE ratio of 191.29, a price-to-earnings-growth ratio of 5.67 and a beta of 1.27.

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wedbush lifted their target price on shares of Pure Storage from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, December 3rd. Tigress Financial set a $105.00 target price on Pure Storage in a research report on Wednesday, December 3rd. Lake Street Capital increased their target price on Pure Storage from $80.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, December 3rd. Wall Street Zen lowered Pure Storage from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, Susquehanna set a $105.00 price target on Pure Storage in a report on Wednesday, December 3rd. Twelve equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.47.

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 dated Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total value of $481,930.92. Following the completion of the sale, the insider 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 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 company’s stock in a transaction dated Monday, December 8th. The shares were 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. 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.