US Bancorp DE boosted its holdings in Pure Storage Inc (NYSE:PSTG) by 436.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,308 shares of the technology company’s stock after buying an additional 18,151 shares during the quarter. US Bancorp DE’s holdings in Pure Storage were worth $533,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. American Century Companies Inc. acquired a new stake in shares of Pure Storage during the 2nd quarter worth approximately $1,282,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Pure Storage during the 2nd quarter worth approximately $8,015,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of Pure Storage during the 2nd quarter worth approximately $788,000. Trexquant Investment LP acquired a new stake in shares of Pure Storage during the 2nd quarter worth approximately $4,793,000. Finally, SG Americas Securities LLC grew its position in shares of Pure Storage by 156.3% during the 2nd quarter. SG Americas Securities LLC now owns 17,884 shares of the technology company’s stock worth $427,000 after buying an additional 10,905 shares during the period. Institutional investors and hedge funds own 68.87% of the company’s stock.

Shares of NYSE:PSTG opened at $28.52 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.91 and a current ratio of 4.03. Pure Storage Inc has a 1-year low of $14.36 and a 1-year high of $29.14.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings data on Tuesday, August 21st. The technology company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.07. Pure Storage had a negative return on equity of 30.56% and a negative net margin of 15.07%. The business had revenue of $308.90 million for the quarter, compared to analysts’ expectations of $301.32 million. During the same period last year, the business earned ($0.11) EPS. The business’s revenue was up 37.5% on a year-over-year basis. analysts forecast that Pure Storage Inc will post -0.66 earnings per share for the current year.

In other Pure Storage news, Director Michael L. Speiser sold 150,000 shares of the firm’s stock in a transaction on Wednesday, June 20th. The stock was sold at an average price of $24.51, for a total transaction of $3,676,500.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Timothy Riitters sold 25,000 shares of the firm’s stock in a transaction on Thursday, June 28th. The shares were sold at an average price of $23.44, for a total value of $586,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,561,324 shares of company stock worth $154,155,315. Company insiders own 15.30% of the company’s stock.

PSTG has been the subject of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Pure Storage in a research report on Friday, July 27th. They set an “overweight” rating and a $30.00 price objective for the company. ValuEngine raised shares of Pure Storage from a “hold” rating to a “buy” rating in a research report on Monday, June 4th. Zacks Investment Research upgraded Pure Storage from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Tuesday, July 17th. Deutsche Bank increased their target price on Pure Storage from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, August 22nd. Finally, KeyCorp increased their target price on Pure Storage from $27.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, June 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $26.03.

Pure Storage 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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