TD Asset Management Inc. acquired a new stake in Pure Storage Inc (NYSE:PSTG) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 14,100 shares of the technology company’s stock, valued at approximately $337,000.

Other large investors also recently added to or reduced their stakes in the company. Fortis Advisors LLC bought a new stake in shares of Pure Storage in the 1st quarter valued at $118,000. WealthTrust Fairport LLC bought a new stake in shares of Pure Storage in the 1st quarter valued at $121,000. Point72 Asia Hong Kong Ltd bought a new stake in shares of Pure Storage in the 1st quarter valued at $132,000. Adviser Investments LLC bought a new stake in shares of Pure Storage in the 1st quarter valued at $136,000. Finally, First Mercantile Trust Co. bought a new stake in shares of Pure Storage in the 1st quarter valued at $196,000. Institutional investors own 66.21% of the company’s stock.

NYSE PSTG opened at $26.56 on Friday. Pure Storage Inc has a 12-month low of $13.43 and a 12-month high of $27.15. The company has a debt-to-equity ratio of 0.68, a current ratio of 4.34 and a quick ratio of 4.22. The firm has a market capitalization of $5.81 billion, a P/E ratio of -31.62 and a beta of 1.12.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Tuesday, August 21st. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.07. Pure Storage had a negative net margin of 15.07% and a negative return on equity of 32.22%. The business had revenue of $308.90 million during the quarter, compared to the consensus estimate of $301.32 million. During the same quarter last year, the firm posted ($0.11) EPS. Pure Storage’s revenue was up 37.5% compared to the same quarter last year. sell-side analysts expect that Pure Storage Inc will post -0.75 earnings per share for the current year.

Several analysts have recently weighed in on PSTG shares. JPMorgan Chase & Co. started coverage on shares of Pure Storage in a research note on Friday, July 27th. They issued an “overweight” rating and a $30.00 price objective for the company. ValuEngine upgraded shares of Pure Storage from a “hold” rating to a “buy” rating in a research note on Monday, June 4th. Zacks Investment Research upgraded shares of Pure Storage from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Tuesday, July 17th. Deutsche Bank lifted their price objective on shares of Pure Storage from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, KeyCorp lifted their price objective on shares of Pure Storage from $27.00 to $29.00 and gave the company an “overweight” rating in a research note on Thursday, June 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. Pure Storage has an average rating of “Buy” and a consensus target price of $25.13.

In other Pure Storage news, CFO Timothy Riitters sold 25,000 shares of Pure Storage stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $21.21, for a total transaction of $530,250.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Scott Dietzen sold 222,332 shares of Pure Storage stock in a transaction on Tuesday, May 29th. The stock was sold at an average price of $20.68, for a total transaction of $4,597,825.76. The disclosure for this sale can be found here. In the last three months, insiders sold 7,175,438 shares of company stock valued at $168,074,680. 15.30% of the stock is currently owned by insiders.

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, a converged infrastructure solution.

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

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