4,742 Shares in Pure Storage, Inc. $PSTG Acquired by AXQ Capital LP

AXQ Capital LP acquired a new stake in Pure Storage, Inc. (NYSE:PSTG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,742 shares of the technology company’s stock, valued at approximately $273,000.

A number of other institutional investors have also recently bought and sold shares of PSTG. Vanguard Group Inc. boosted its position in shares of Pure Storage by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 33,268,006 shares of the technology company’s stock worth $1,915,572,000 after purchasing an additional 308,738 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Pure Storage by 25.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 9,075,944 shares of the technology company’s stock valued at $401,793,000 after purchasing an additional 1,868,782 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Pure Storage by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 7,273,696 shares of the technology company’s stock worth $417,830,000 after buying an additional 123,320 shares during the period. William Blair Investment Management LLC raised its position in shares of Pure Storage by 112.9% in the 2nd quarter. William Blair Investment Management LLC now owns 4,926,836 shares of the technology company’s stock valued at $283,687,000 after acquiring an additional 2,612,300 shares during the period. Finally, Blair William & Co. IL boosted its stake in Pure Storage by 2.8% during the 1st quarter. Blair William & Co. IL now owns 3,541,445 shares of the technology company’s stock worth $156,780,000 after acquiring an additional 96,731 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insiders Place Their Bets

In other Pure Storage news, Director Roxanne Taylor sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $76.93, for a total transaction of $230,790.00. Following the completion of the transaction, the director directly owned 16,343 shares in the company, valued at $1,257,266.99. The trade was a 15.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Dan Fitzsimons sold 6,051 shares of the company’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $87.42, for a total value of $528,978.42. Following the sale, the executive owned 62,759 shares of the company’s stock, valued at $5,486,391.78. The trade was a 8.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 443,111 shares of company stock valued at $36,793,439 over the last three months. 5.60% of the stock is owned by corporate insiders.

Pure Storage Price Performance

Pure Storage stock opened at $82.18 on Tuesday. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $100.59. The firm has a market cap of $27.01 billion, a PE ratio of 200.44, a price-to-earnings-growth ratio of 8.99 and a beta of 1.24. The stock’s fifty day moving average price is $89.14 and its two-hundred day moving average price is $69.88.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Tuesday, September 9th. The technology company reported $0.44 EPS for the quarter. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The business had revenue of $763.77 million during the quarter. Sell-side analysts expect that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Raymond James Financial boosted their price objective on Pure Storage from $88.00 to $99.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Wedbush boosted their price target on Pure Storage from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Morgan Stanley lifted their price target on Pure Storage from $72.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, November 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Pure Storage in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Pure Storage from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Thirteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $92.61.

Pure Storage Profile

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.