Arizona State Retirement System Boosts Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Arizona State Retirement System raised its holdings in shares of Pure Storage, Inc. (NYSE:PSTGGet Rating) by 1.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 73,207 shares of the technology company’s stock after acquiring an additional 782 shares during the quarter. Arizona State Retirement System’s holdings in Pure Storage were worth $2,585,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Loomis Sayles & Co. L P raised its holdings in Pure Storage by 23.5% in the 4th quarter. Loomis Sayles & Co. L P now owns 3,268,373 shares of the technology company’s stock worth $106,385,000 after purchasing an additional 622,480 shares during the period. Geode Capital Management LLC grew its position in Pure Storage by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 3,253,085 shares of the technology company’s stock worth $105,887,000 after acquiring an additional 44,422 shares in the last quarter. Blair William & Co. IL grew its position in Pure Storage by 9.7% in the fourth quarter. Blair William & Co. IL now owns 2,643,767 shares of the technology company’s stock worth $86,055,000 after acquiring an additional 234,351 shares in the last quarter. Strs Ohio lifted its stake in Pure Storage by 2.1% in the first quarter. Strs Ohio now owns 1,781,593 shares of the technology company’s stock worth $62,908,000 after purchasing an additional 36,593 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Pure Storage by 166.5% during the first quarter. Assenagon Asset Management S.A. now owns 1,584,600 shares of the technology company’s stock valued at $55,952,000 after acquiring an additional 990,059 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PSTG has been the subject of a number of recent research reports. Bank of America downgraded shares of Pure Storage from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $34.00 to $27.00 in a research note on Friday, May 20th. UBS Group began coverage on shares of Pure Storage in a report on Tuesday, April 5th. They set a “neutral” rating and a $36.00 price objective on the stock. KeyCorp lowered their price target on shares of Pure Storage from $43.00 to $34.00 in a report on Thursday, June 2nd. Northland Securities upped their price objective on shares of Pure Storage from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Thursday, June 2nd. Finally, StockNews.com upgraded shares of Pure Storage from a “hold” rating to a “buy” rating in a research report on Monday, July 25th. Five research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.90.

Pure Storage Stock Performance

NYSE:PSTG opened at $28.35 on Friday. The stock has a market capitalization of $8.39 billion, a P/E ratio of -113.40 and a beta of 1.38. The company has a 50 day moving average price of $25.87 and a 200 day moving average price of $27.95. Pure Storage, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $36.71.

Pure Storage (NYSE:PSTGGet Rating) last posted its quarterly earnings data on Wednesday, June 1st. The technology company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.24. The firm had revenue of $620.41 million during the quarter, compared to analysts’ expectations of $521.81 million. Pure Storage had a negative net margin of 2.96% and a positive return on equity of 4.26%. The firm’s quarterly revenue was up 50.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.22) EPS. Research analysts forecast that Pure Storage, Inc. will post -0.14 earnings per share for the current fiscal year.

Pure Storage Profile

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Pure Storage, Inc provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.

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

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