14,417 Shares in Pure Storage, Inc. (NYSE:PSTG) Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC acquired a new position in Pure Storage, Inc. (NYSE:PSTG) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 14,417 shares of the technology company’s stock, valued at approximately $514,000.

A number of other hedge funds also recently added to or reduced their stakes in PSTG. Norges Bank purchased a new position in Pure Storage in the 4th quarter worth approximately $90,143,000. Price T Rowe Associates Inc. MD raised its stake in Pure Storage by 24.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,091,077 shares of the technology company’s stock valued at $359,464,000 after buying an additional 2,807,489 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Pure Storage by 5,725.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,614,837 shares of the technology company’s stock valued at $57,520,000 after buying an additional 1,587,116 shares during the last quarter. Spyglass Capital Management LLC purchased a new stake in Pure Storage during the 4th quarter valued at $36,678,000. Finally, Acadian Asset Management LLC raised its stake in Pure Storage by 61.5% during the 3rd quarter. Acadian Asset Management LLC now owns 3,399,759 shares of the technology company’s stock valued at $121,081,000 after buying an additional 1,294,285 shares during the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Pure Storage Trading Up 1.9 %

Shares of Pure Storage stock opened at $53.31 on Wednesday. The firm has a market cap of $17.32 billion, a price-to-earnings ratio of 313.61, a PEG ratio of 6.79 and a beta of 1.15. The business has a 50-day moving average price of $49.58 and a 200-day moving average price of $40.92. The company has a quick ratio of 1.80, a current ratio of 1.83 and a debt-to-equity ratio of 0.08. Pure Storage, Inc. has a twelve month low of $22.14 and a twelve month high of $58.46.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.10. The firm had revenue of $789.81 million during the quarter, compared to analyst estimates of $784.31 million. Pure Storage had a return on equity of 12.60% and a net margin of 2.17%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 earnings per share. Equities research analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Insider Activity

In other news, Director Roxanne Taylor sold 36,860 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $53.76, for a total transaction of $1,981,593.60. Following the completion of the transaction, the director now owns 18,883 shares in the company, valued at $1,015,150.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Roxanne Taylor sold 36,860 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $53.76, for a total value of $1,981,593.60. Following the completion of the transaction, the director now owns 18,883 shares of the company’s stock, valued at approximately $1,015,150.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ajay Singh sold 37,588 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $53.54, for a total transaction of $2,012,461.52. Following the completion of the transaction, the insider now directly owns 380,834 shares of the company’s stock, valued at approximately $20,389,852.36. The disclosure for this sale can be found here. Company insiders own 6.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PSTG shares. Wedbush reiterated an “outperform” rating and set a $50.00 target price on shares of Pure Storage in a research note on Thursday, February 29th. Bank of America boosted their target price on shares of Pure Storage from $42.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Morgan Stanley boosted their price objective on shares of Pure Storage from $43.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Needham & Company LLC reissued a “buy” rating and set a $66.00 price objective on shares of Pure Storage in a research report on Thursday, April 11th. Finally, Barclays boosted their price objective on shares of Pure Storage from $42.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.53.

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.