Maryland State Retirement & Pension System Buys 1,164 Shares of Pure Storage, Inc. (NYSE:PSTG)

Maryland State Retirement & Pension System lifted its stake in shares of Pure Storage, Inc. (NYSE:PSTGFree Report) by 5.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,628 shares of the technology company’s stock after purchasing an additional 1,164 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Pure Storage were worth $1,188,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Veracity Capital LLC bought a new stake in shares of Pure Storage during the 1st quarter valued at approximately $521,000. Norden Group LLC bought a new stake in Pure Storage during the 1st quarter worth approximately $458,000. State of Alaska Department of Revenue bought a new stake in Pure Storage during the 1st quarter worth approximately $1,675,000. State of Michigan Retirement System bought a new stake in Pure Storage during the 1st quarter worth approximately $3,790,000. Finally, Oak Thistle LLC bought a new stake in Pure Storage during the 1st quarter worth approximately $448,000. 83.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CRO Dan Fitzsimons sold 29,283 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $52.14, for a total transaction of $1,526,815.62. Following the transaction, the executive now directly owns 138,105 shares of the company’s stock, valued at $7,200,794.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Pure Storage news, CRO Dan Fitzsimons sold 29,283 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $52.14, for a total value of $1,526,815.62. Following the transaction, the executive now directly owns 138,105 shares of the company’s stock, valued at $7,200,794.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott Dietzen sold 147,000 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $53.49, for a total transaction of $7,863,030.00. Following the completion of the transaction, the director now directly owns 100,000 shares in the company, valued at $5,349,000. The disclosure for this sale can be found here. Insiders have sold a total of 216,951 shares of company stock valued at $11,584,759 over the last ninety days. 6.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PSTG. Barclays boosted their target price on shares of Pure Storage from $51.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. boosted their target price on shares of Pure Storage from $50.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Morgan Stanley lowered shares of Pure Storage from an “overweight” rating to an “equal weight” rating and set a $60.00 target price on the stock. in a report on Wednesday, June 12th. UBS Group lowered shares of Pure Storage from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $44.00 to $47.00 in a report on Tuesday. Finally, Citigroup boosted their target price on shares of Pure Storage from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Pure Storage presently has an average rating of “Moderate Buy” and a consensus target price of $69.11.

Get Our Latest Report on Pure Storage

Pure Storage Stock Up 1.6 %

Shares of NYSE PSTG opened at $64.69 on Friday. The firm has a market cap of $21.04 billion, a PE ratio of 231.04, a P/E/G ratio of 6.42 and a beta of 1.11. Pure Storage, Inc. has a 12-month low of $31.00 and a 12-month high of $70.41. The company’s fifty day simple moving average is $60.94 and its 200 day simple moving average is $50.76. The company has a quick ratio of 1.96, a current ratio of 2.00 and a debt-to-equity ratio of 0.07.

Pure Storage (NYSE:PSTGGet Free Report) last issued its earnings results on Wednesday, May 29th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. The business had revenue of $693.48 million for the quarter, compared to analyst estimates of $681.37 million. Pure Storage had a net margin of 3.19% and a return on equity of 15.34%. As a group, sell-side analysts forecast that Pure Storage, Inc. will post 0.47 earnings per share for the current fiscal year.

Pure Storage 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.

See Also

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

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