Dimensional Fund Advisors LP Boosts Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Dimensional Fund Advisors LP grew its stake in shares of Pure Storage, Inc. (NYSE:PSTGFree Report) by 2.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,168,335 shares of the technology company’s stock after buying an additional 28,086 shares during the period. Dimensional Fund Advisors LP owned 0.37% of Pure Storage worth $41,666,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Naples Money Management LLC acquired a new stake in shares of Pure Storage in the fourth quarter worth $25,000. Principal Securities Inc. acquired a new stake in Pure Storage in the 4th quarter valued at $31,000. Allspring Global Investments Holdings LLC purchased a new position in Pure Storage in the fourth quarter valued at about $45,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Pure Storage during the fourth quarter worth about $64,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Pure Storage in the fourth quarter worth about $67,000. 83.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PSTG has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price target on Pure Storage from $50.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday. Susquehanna boosted their target price on shares of Pure Storage from $65.00 to $75.00 and gave the stock a “positive” rating in a research report on Thursday. Lake Street Capital raised their price target on shares of Pure Storage from $48.00 to $70.00 and gave the company a “buy” rating in a report on Thursday. Citigroup lifted their price target on shares of Pure Storage from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Wedbush reissued an “outperform” rating and issued a $70.00 price objective (up from $50.00) on shares of Pure Storage in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.15.

Check Out Our Latest Research Report on Pure Storage

Pure Storage Stock Performance

Shares of PSTG stock opened at $63.28 on Friday. The company has a market cap of $20.56 billion, a P/E ratio of 372.26, a PEG ratio of 6.97 and a beta of 1.15. The business has a 50 day moving average of $54.56 and a two-hundred day moving average of $45.48. Pure Storage, Inc. has a 52 week low of $27.98 and a 52 week high of $68.75. 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 (NYSE:PSTGGet Free Report) last released its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.10. Pure Storage had a return on equity of 12.60% and a net margin of 2.17%. The business had revenue of $789.81 million during the quarter, compared to analyst estimates of $784.31 million. During the same quarter in the previous year, the firm posted $0.27 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, analysts anticipate that Pure Storage, Inc. will post 0.46 EPS for the current year.

Insider Activity

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 sale, the director now owns 18,883 shares of the company’s stock, valued at approximately $1,015,150.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Pure Storage news, Director Roxanne Taylor sold 36,860 shares of Pure Storage stock in a transaction on 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 sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ajay Singh sold 37,588 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $53.54, for a total value of $2,012,461.52. Following the transaction, the insider now 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. Over the last quarter, insiders sold 286,581 shares of company stock valued at $15,266,704. 6.00% of the stock is currently owned by company insiders.

Pure Storage Company Profile

(Free Report)

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.

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

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