Pure Storage, Inc. (NYSE:PSTG) Shares Acquired by Fmr LLC

Fmr LLC lifted its position in Pure Storage, Inc. (NYSE:PSTG) by 0.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,153,797 shares of the technology company’s stock after purchasing an additional 368,643 shares during the quarter. Fmr LLC owned about 15.00% of Pure Storage worth $2,469,487,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PSTG. Bank of Montreal Can boosted its holdings in Pure Storage by 92.0% in the third quarter. Bank of Montreal Can now owns 193,563 shares of the technology company’s stock valued at $9,570,000 after purchasing an additional 92,762 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in Pure Storage by 53.5% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 55,818 shares of the technology company’s stock worth $2,804,000 after purchasing an additional 19,444 shares during the period. Westfield Capital Management Co. LP raised its stake in shares of Pure Storage by 29.4% during the 3rd quarter. Westfield Capital Management Co. LP now owns 995,019 shares of the technology company’s stock worth $49,990,000 after buying an additional 225,949 shares during the period. Larson Financial Group LLC lifted its stake in Pure Storage by 49.1% in the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after buying an additional 212 shares in the last quarter. Finally, Citigroup Inc. increased its position in shares of Pure Storage by 11.3% during the third quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock worth $7,235,000 after purchasing an additional 14,659 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insider Transactions at Pure Storage

In other news, CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.67, for a total value of $450,709.65. Following the completion of the sale, the executive now directly owns 94,446 shares of the company’s stock, valued at approximately $4,785,578.82. The trade was a 8.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the completion of the transaction, the insider now owns 500,000 shares in the company, valued at approximately $24,970,000. This trade represents a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 354,542 shares of company stock valued at $18,599,030. Insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PSTG shares. TD Cowen dropped their price objective on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Raymond James lowered their price objective on Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. Susquehanna reaffirmed a “positive” rating and issued a $80.00 target price on shares of Pure Storage in a research note on Monday, August 26th. Lake Street Capital dropped their price objective on shares of Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, Guggenheim boosted their target price on shares of Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pure Storage currently has a consensus rating of “Moderate Buy” and an average target price of $67.95.

Pure Storage Price Performance

PSTG stock opened at $53.75 on Tuesday. Pure Storage, Inc. has a 1 year low of $31.00 and a 1 year high of $70.41. The firm has a market capitalization of $17.61 billion, a P/E ratio of 134.38, a P/E/G ratio of 7.01 and a beta of 1.10. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. The business’s 50-day moving average is $51.79 and its two-hundred day moving average is $56.88.

Pure Storage (NYSE:PSTG) last issued its earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.10. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. The firm had revenue of $763.77 million for the quarter, compared to analysts’ expectations of $756.59 million. Analysts anticipate that Pure Storage, Inc. will post 0.42 earnings per share for the current fiscal year.

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.