10,017 Shares in Pure Storage, Inc. (NYSE:PSTG) Purchased by Veracity Capital LLC

Veracity Capital LLC purchased a new stake in shares of Pure Storage, Inc. (NYSE:PSTG) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,017 shares of the technology company’s stock, valued at approximately $521,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Pure Storage by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 31,294,297 shares of the technology company’s stock valued at $1,115,955,000 after purchasing an additional 567,358 shares in the last quarter. Polar Capital Holdings Plc increased its stake in Pure Storage by 33.8% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,068,672 shares of the technology company’s stock valued at $144,926,000 after purchasing an additional 1,028,104 shares in the last quarter. First Trust Advisors LP increased its stake in Pure Storage by 4.2% during the 4th quarter. First Trust Advisors LP now owns 4,028,716 shares of the technology company’s stock valued at $143,664,000 after purchasing an additional 160,877 shares in the last quarter. Norges Bank acquired a new position in Pure Storage during the 4th quarter valued at approximately $115,452,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Pure Storage by 83.9% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,068,255 shares of the technology company’s stock valued at $73,754,000 after acquiring an additional 943,850 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

Pure Storage Price Performance

Shares of Pure Storage stock traded up $0.92 on Thursday, hitting $63.69. The company’s stock had a trading volume of 1,918,646 shares, compared to its average volume of 3,554,213. The firm has a fifty day moving average price of $60.48 and a 200-day moving average price of $50.48. Pure Storage, Inc. has a 52-week low of $31.00 and a 52-week high of $70.41. The company has a market capitalization of $20.71 billion, a P/E ratio of 227.46, a price-to-earnings-growth ratio of 6.32 and a beta of 1.11. The company has a quick ratio of 1.96, a current ratio of 2.00 and a debt-to-equity ratio of 0.07.

Pure Storage (NYSE:PSTG) last announced its earnings results on Wednesday, May 29th. The technology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. Pure Storage had a net margin of 3.19% and a return on equity of 15.34%. The firm had revenue of $693.48 million during the quarter, compared to the consensus estimate of $681.37 million. On average, equities research analysts expect that Pure Storage, Inc. will post 0.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Mallun Yen sold 4,818 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $64.78, for a total transaction of $312,110.04. Following the completion of the transaction, the director now directly owns 35,498 shares in the company, valued at approximately $2,299,560.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO P. Kevan Krysler sold 15,286 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $52.80, for a total transaction of $807,100.80. Following the transaction, the chief financial officer now directly owns 507,824 shares of the company’s stock, valued at $26,813,107.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mallun Yen sold 4,818 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $64.78, for a total value of $312,110.04. Following the completion of the transaction, the director now owns 35,498 shares of the company’s stock, valued at approximately $2,299,560.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 254,539 shares of company stock valued at $13,597,221. 6.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Stifel Nicolaus increased their price target on shares of Pure Storage from $46.00 to $65.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. Wells Fargo & Company increased their target price on shares of Pure Storage from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Susquehanna lifted their price target on shares of Pure Storage from $75.00 to $80.00 and gave the stock a “positive” rating in a research note on Friday, June 21st. Raymond James raised their price objective on shares of Pure Storage from $63.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Finally, Northland Securities cut shares of Pure Storage from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $58.00 to $68.00 in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.11.

About Pure Storage

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.