IQ EQ FUND MANAGEMENT IRELAND Ltd Boosts Position in Pure Storage, Inc. $PSTG

IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in Pure Storage, Inc. (NYSE:PSTG) by 134.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,075 shares of the technology company’s stock after purchasing an additional 35,022 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Pure Storage were worth $5,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Capital Investment Advisory Services LLC bought a new stake in shares of Pure Storage during the 3rd quarter valued at about $642,000. BI Asset Management Fondsmaeglerselskab A S raised its stake in Pure Storage by 96.3% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 31,166 shares of the technology company’s stock valued at $2,612,000 after purchasing an additional 15,286 shares in the last quarter. Savant Capital LLC lifted its position in Pure Storage by 53.2% during the third quarter. Savant Capital LLC now owns 8,553 shares of the technology company’s stock valued at $717,000 after purchasing an additional 2,970 shares during the last quarter. Machina Capital S.A.S. bought a new stake in Pure Storage during the third quarter valued at approximately $470,000. Finally, J.W. Cole Advisors Inc. purchased a new position in Pure Storage in the 3rd quarter worth approximately $452,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insider Activity

In other Pure Storage news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Monday, December 8th. The stock was sold at an average price of $71.31, for a total transaction of $7,131,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ajay Singh sold 7,178 shares of the firm’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total value of $481,930.92. Following the transaction, the insider owned 215,091 shares of the company’s stock, valued at $14,441,209.74. The trade was a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 207,178 shares of company stock valued at $16,771,931. 5.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PSTG has been the topic of a number of research reports. Morgan Stanley set a $83.00 price target on Pure Storage in a research report on Wednesday, December 3rd. UBS Group boosted their target price on Pure Storage from $55.00 to $60.00 and gave the stock a “sell” rating in a research report on Wednesday, December 3rd. Northland Securities set a $77.00 price target on shares of Pure Storage in a research report on Wednesday, December 3rd. Wedbush lifted their price target on shares of Pure Storage from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 3rd. Finally, Raymond James Financial upped their price objective on shares of Pure Storage from $88.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Twelve investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $95.26.

Pure Storage Price Performance

Shares of NYSE:PSTG opened at $64.42 on Friday. The company has a market cap of $21.27 billion, a PE ratio of 169.53, a P/E/G ratio of 5.23 and a beta of 1.27. The stock’s 50-day moving average is $71.18 and its 200 day moving average is $75.91. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $100.59.

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

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.