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 0.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,268,006 shares of the technology company’s stock after purchasing an additional 308,738 shares during the period. Vanguard Group Inc. owned 10.18% of Pure Storage worth $1,915,572,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Dorsey & Whitney Trust CO LLC purchased a new stake in shares of Pure Storage in the second quarter worth about $247,000. Intrust Bank NA lifted its position in Pure Storage by 17.6% during the 2nd quarter. Intrust Bank NA now owns 7,542 shares of the technology company’s stock worth $434,000 after acquiring an additional 1,127 shares in the last quarter. Intech Investment Management LLC boosted its holdings in Pure Storage by 196.4% in the 2nd quarter. Intech Investment Management LLC now owns 61,039 shares of the technology company’s stock worth $3,515,000 after acquiring an additional 40,445 shares during the period. Cetera Investment Advisers grew its position in Pure Storage by 3.2% in the second quarter. Cetera Investment Advisers now owns 84,773 shares of the technology company’s stock valued at $4,881,000 after acquiring an additional 2,627 shares in the last quarter. Finally, Creative Planning raised its stake in shares of Pure Storage by 15.4% during the second quarter. Creative Planning now owns 47,185 shares of the technology company’s stock valued at $2,717,000 after purchasing an additional 6,298 shares during the period. 83.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wedbush upped their target price on shares of Pure Storage from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. JPMorgan Chase & Co. raised their target price on Pure Storage from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Cowen reiterated a “buy” rating on shares of Pure Storage in a research note on Thursday, August 28th. Guggenheim raised their price objective on Pure Storage from $93.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Finally, Lake Street Capital upped their target price on Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Thirteen 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 has a consensus rating of “Moderate Buy” and a consensus price target of $92.61.

Pure Storage Trading Up 1.6%

Shares of NYSE PSTG opened at $78.49 on Friday. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $100.59. The company has a market cap of $25.79 billion, a price-to-earnings ratio of 191.44, a price-to-earnings-growth ratio of 8.99 and a beta of 1.24. The stock’s 50 day simple moving average is $89.23 and its 200 day simple moving average is $69.34.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Tuesday, September 9th. The technology company reported $0.44 earnings per share for the quarter. The business had revenue of $763.77 million for the quarter. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. As a group, equities analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Pure Storage

In other news, insider Ajay Singh sold 7,014 shares of the stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $85.85, for a total value of $602,151.90. Following the completion of the transaction, the insider owned 229,307 shares of the company’s stock, valued at approximately $19,686,005.95. This represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Mona Chu sold 17,500 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $76.51, for a total value of $1,338,925.00. Following the transaction, the chief accounting officer directly owned 138,899 shares in the company, valued at $10,627,162.49. This trade represents a 11.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 443,111 shares of company stock valued at $36,793,439. 5.60% of the stock is currently owned by insiders.

Pure Storage Profile

Pure Storage, Inc engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.