Pacer Advisors Inc. Boosts Stock Holdings in Pure Storage, Inc. $PSTG

Pacer Advisors Inc. lifted its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 909.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,097 shares of the technology company’s stock after acquiring an additional 54,142 shares during the period. Pacer Advisors Inc.’s holdings in Pure Storage were worth $5,037,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PSTG. Swedbank AB boosted its stake in Pure Storage by 16.4% during the 3rd quarter. Swedbank AB now owns 154,754 shares of the technology company’s stock valued at $12,970,000 after purchasing an additional 21,824 shares during the last quarter. Cypress Wealth Services LLC bought a new position in shares of Pure Storage during the third quarter valued at $209,000. Exchange Traded Concepts LLC boosted its position in shares of Pure Storage by 2.6% during the third quarter. Exchange Traded Concepts LLC now owns 74,895 shares of the technology company’s stock valued at $6,277,000 after buying an additional 1,880 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its position in shares of Pure Storage by 3.5% during the third quarter. Legacy Wealth Asset Management LLC now owns 5,969 shares of the technology company’s stock valued at $500,000 after buying an additional 200 shares during the last quarter. Finally, Brighton Jones LLC increased its holdings in Pure Storage by 46.4% in the 3rd quarter. Brighton Jones LLC now owns 9,130 shares of the technology company’s stock worth $765,000 after buying an additional 2,895 shares in the last quarter. 83.42% of the stock is owned by institutional investors.

Insider Activity at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 7,178 shares of the company’s stock in a transaction dated 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 sale, the insider owned 215,091 shares in the company, valued at $14,441,209.74. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Mona Chu sold 9,091 shares of Pure Storage stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $84.91, for a total value of $771,916.81. Following the transaction, the chief accounting officer directly owned 107,353 shares in the company, valued at approximately $9,115,343.23. The trade was a 7.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 316,269 shares of company stock worth $26,792,848. Corporate insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on PSTG. JPMorgan Chase & Co. lowered their target price on shares of Pure Storage from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 3rd. Wells Fargo & Company increased their price objective on shares of Pure Storage from $80.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. Northland Securities set a $77.00 target price on shares of Pure Storage in a report on Wednesday, December 3rd. Cowen reiterated a “buy” rating on shares of Pure Storage in a research note on Wednesday, December 3rd. Finally, Guggenheim increased their price target on Pure Storage from $93.00 to $105.00 and gave the company a “buy” rating in a report on Friday, September 26th. Thirteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.26.

Pure Storage Trading Down 1.3%

Shares of NYSE PSTG opened at $68.37 on Tuesday. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $100.59. The firm has a market capitalization of $22.57 billion, a price-to-earnings ratio of 179.92, a price-to-earnings-growth ratio of 7.69 and a beta of 1.28. The firm has a 50 day moving average of $81.94 and a 200 day moving average of $73.25.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Tuesday, September 9th. The technology company reported $0.44 earnings per share for the quarter. Pure Storage had a net margin of 3.74% and a return on equity of 10.60%. The business had revenue of $763.77 million for the quarter. Sell-side analysts predict that Pure Storage, Inc. will post 0.44 EPS for the current year.

Pure Storage Company 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.