MUFG Securities EMEA plc Has $1.04 Million Position in Pure Storage Inc (NYSE:PSTG)
MUFG Securities EMEA plc increased its position in shares of Pure Storage Inc (NYSE:PSTG) by 13.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,100 shares of the technology company’s stock after purchasing an additional 7,935 shares during the period. MUFG Securities EMEA plc’s holdings in Pure Storage were worth $1,040,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the stock. Price Wealth Management Inc. acquired a new position in Pure Storage in the 2nd quarter valued at $29,000. Riverhead Capital Management LLC acquired a new position in Pure Storage in the 2nd quarter valued at $29,000. Coastal Investment Advisors Inc. raised its holdings in Pure Storage by 25.0% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 4,000 shares of the technology company’s stock valued at $61,000 after acquiring an additional 800 shares in the last quarter. Flinton Capital Management LLC raised its holdings in Pure Storage by 203.8% in the 2nd quarter. Flinton Capital Management LLC now owns 5,056 shares of the technology company’s stock valued at $77,000 after acquiring an additional 3,392 shares in the last quarter. Finally, Meadow Creek Investment Management LLC raised its holdings in Pure Storage by 203.8% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 6,952 shares of the technology company’s stock valued at $106,000 after acquiring an additional 4,664 shares in the last quarter. 78.22% of the stock is owned by institutional investors and hedge funds.
Several brokerages have weighed in on PSTG. BTIG Research dropped their price objective on Pure Storage to $20.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Barclays set a $17.00 price objective on Pure Storage and gave the company a “buy” rating in a report on Wednesday, August 21st. Bank of America set a $22.00 price target on Pure Storage and gave the stock a “buy” rating in a report on Thursday, August 22nd. Piper Jaffray Companies boosted their price target on Pure Storage from $16.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Zacks Investment Research raised Pure Storage from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a report on Tuesday, August 27th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $21.10.
Shares of Pure Storage stock traded down $0.02 during trading on Friday, reaching $17.73. 106,516 shares of the company’s stock were exchanged, compared to its average volume of 4,171,339. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.14 and a current ratio of 3.21. Pure Storage Inc has a 1-year low of $12.68 and a 1-year high of $28.99. The company has a market cap of $4.55 billion, a P/E ratio of -25.36 and a beta of 1.75. The firm’s 50-day moving average price is $15.08 and its 200 day moving average price is $18.11.
Pure Storage (NYSE:PSTG) last issued its quarterly earnings data on Wednesday, August 21st. The technology company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.05. The business had revenue of $396.30 million for the quarter, compared to analyst estimates of $392.34 million. Pure Storage had a negative return on equity of 25.22% and a negative net margin of 14.51%. Pure Storage’s quarterly revenue was up 28.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 EPS. As a group, equities research analysts predict that Pure Storage Inc will post -0.7 EPS for the current year.
Pure Storage Company Profile
Pure Storage, Inc engages in building a data platform that enables businesses to enhance performance and reduce complexity and costs worldwide. The company delivers its data platform through Purity Operating Environment, an optimized software for solid-state memory that offers enterprise-class storage and protocol services; FlashArray and FlashBlade optimized hardware products for solid-state memory to enhance the performance and density of flash, optimize its advanced software services, and reduce solution cost for customers; Pure1, a cloud-based management and support software; and FlashStack and Artificial Intelligence Ready Infrastructure converged infrastructure solutions.
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