Alliancebernstein L.P. Grows Position in Pure Storage, Inc. (NYSE:PSTG)

Alliancebernstein L.P. lifted its stake in Pure Storage, Inc. (NYSE:PSTG) by 1.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 126,460 shares of the technology company’s stock after buying an additional 1,300 shares during the quarter. Alliancebernstein L.P.’s holdings in Pure Storage were worth $2,724,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PSTG. Janney Montgomery Scott LLC lifted its holdings in shares of Pure Storage by 30.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 14,759 shares of the technology company’s stock worth $334,000 after buying an additional 3,451 shares in the last quarter. Victory Capital Management Inc. increased its position in Pure Storage by 6.6% in the fourth quarter. Victory Capital Management Inc. now owns 14,378 shares of the technology company’s stock worth $325,000 after purchasing an additional 896 shares during the last quarter. AE Wealth Management LLC bought a new stake in Pure Storage in the fourth quarter worth $204,000. California Public Employees Retirement System increased its position in Pure Storage by 8.1% in the fourth quarter. California Public Employees Retirement System now owns 546,751 shares of the technology company’s stock worth $12,362,000 after purchasing an additional 40,951 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new stake in Pure Storage in the fourth quarter worth $221,000. 84.01% of the stock is currently owned by hedge funds and other institutional investors.

PSTG stock opened at $19.13 on Friday. The stock’s 50 day simple moving average is $19.70. The stock has a market capitalization of $5.36 billion, a PE ratio of -18.05 and a beta of 1.41. Pure Storage, Inc. has a fifty-two week low of $13.91 and a fifty-two week high of $29.53. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.45 and a current ratio of 2.51.

Pure Storage (NYSE:PSTG) last posted its earnings results on Wednesday, May 26th. The technology company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.06. Pure Storage had a negative return on equity of 23.91% and a negative net margin of 16.75%. Research analysts predict that Pure Storage, Inc. will post -0.57 EPS for the current fiscal year.

In other Pure Storage news, Director Anita M. Sands sold 30,380 shares of the business’s stock in a transaction that occurred on Thursday, April 8th. The stock was sold at an average price of $21.48, for a total value of $652,562.40. Following the completion of the sale, the director now owns 58,719 shares in the company, valued at $1,261,284.12. The sale was disclosed in a document filed with the SEC, which is available through this link. 6.80% of the stock is currently owned by insiders.

Several equities research analysts recently weighed in on the stock. JMP Securities boosted their price target on shares of Pure Storage from $26.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, February 22nd. Evercore ISI reiterated a “buy” rating and set a $30.00 price objective on shares of Pure Storage in a research report on Tuesday, May 25th. Cowen boosted their price objective on shares of Pure Storage from $22.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, February 25th. Northland Securities lowered shares of Pure Storage from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 25th. Finally, Credit Suisse Group boosted their target price on shares of Pure Storage from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, February 25th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $27.44.

Pure Storage Company Profile

Pure Storage, Inc provides technology and data storage solutions in the United States and internationally. The company delivers solutions based on proprietary Purity Operating Environment Software that implements enterprise-class storage services, such as data reduction, encryption, and protection, as well as protocol services, including block, file, and object.

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Institutional Ownership by Quarter for Pure Storage (NYSE:PSTG)

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