Intech Investment Management LLC Takes $388,000 Position in Pure Storage, Inc. (NYSE:PSTG)

Intech Investment Management LLC purchased a new stake in Pure Storage, Inc. (NYSE:PSTG) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 15,209 shares of the technology company’s stock, valued at approximately $388,000.

A number of other institutional investors have also modified their holdings of the company. Parkside Financial Bank & Trust acquired a new stake in Pure Storage in the 1st quarter worth approximately $33,000. American National Bank acquired a new stake in Pure Storage in the 1st quarter worth approximately $36,000. Fifth Third Bancorp acquired a new stake in Pure Storage in the 1st quarter worth approximately $38,000. Ahrens Investment Partners LLC acquired a new stake in Pure Storage in the 1st quarter worth approximately $44,000. Finally, Penserra Capital Management LLC acquired a new stake in Pure Storage in the 1st quarter worth approximately $47,000. 82.98% of the stock is currently owned by institutional investors.

Insider Transactions at Pure Storage

In other news, CAO Mona Chu sold 5,387 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $38.49, for a total transaction of $207,345.63. Following the completion of the sale, the chief accounting officer now owns 147,188 shares of the company’s stock, valued at $5,665,266.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO P. Kevan Krysler sold 26,925 shares of the business’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $37.04, for a total transaction of $997,302.00. Following the transaction, the chief financial officer now owns 528,059 shares of the company’s stock, valued at approximately $19,559,305.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Mona Chu sold 5,387 shares of the company’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $38.49, for a total transaction of $207,345.63. Following the completion of the transaction, the chief accounting officer now directly owns 147,188 shares in the company, valued at approximately $5,665,266.12. The disclosure for this sale can be found here. Insiders sold 159,373 shares of company stock valued at $5,833,636 over the last 90 days. 6.50% of the stock is currently owned by corporate insiders.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $35.77 on Monday. The firm has a market cap of $11.00 billion, a PE ratio of 1,192.73, a PEG ratio of 8.51 and a beta of 1.29. The firm has a fifty day moving average of $37.16 and a 200 day moving average of $30.45. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.64 and a current ratio of 1.69. Pure Storage, Inc. has a one year low of $22.14 and a one year high of $39.19.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Wednesday, May 31st. The technology company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.04. The company had revenue of $589.31 million during the quarter, compared to analyst estimates of $560.83 million. Pure Storage had a net margin of 0.63% and a return on equity of 9.03%. As a group, research analysts predict that Pure Storage, Inc. will post 0.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PSTG has been the subject of a number of recent analyst reports. Stifel Nicolaus lifted their target price on shares of Pure Storage from $32.00 to $35.00 in a research note on Thursday, June 1st. Barclays lifted their price objective on shares of Pure Storage from $37.00 to $38.00 in a research note on Thursday, June 1st. Morgan Stanley lifted their price objective on shares of Pure Storage from $34.00 to $42.00 in a research note on Friday, June 16th. Lake Street Capital lifted their price objective on shares of Pure Storage from $34.00 to $40.00 in a research note on Friday, June 16th. Finally, KeyCorp lifted their price objective on shares of Pure Storage from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, August 11th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Pure Storage currently has an average rating of “Buy” and an average price target of $40.11.

About Pure Storage

Pure Storage, Inc, together with its subsidiaries, 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.