Board of the Pension Protection Fund Invests $1.07 Million in Pure Storage, Inc. $PSTG

Board of the Pension Protection Fund bought a new stake in Pure Storage, Inc. (NYSE:PSTG) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,800 shares of the technology company’s stock, valued at approximately $1,073,000.

Other institutional investors have also recently bought and sold shares of the company. Penserra Capital Management LLC lifted its holdings in shares of Pure Storage by 11.8% during the 2nd quarter. Penserra Capital Management LLC now owns 1,666 shares of the technology company’s stock worth $95,000 after acquiring an additional 176 shares during the period. Wedmont Private Capital lifted its stake in Pure Storage by 4.8% during the third quarter. Wedmont Private Capital now owns 3,991 shares of the technology company’s stock worth $351,000 after purchasing an additional 182 shares during the period. Empowered Funds LLC boosted its holdings in Pure Storage by 4.2% during the first quarter. Empowered Funds LLC now owns 4,790 shares of the technology company’s stock valued at $212,000 after purchasing an additional 194 shares in the last quarter. Ramirez Asset Management Inc. grew its stake in shares of Pure Storage by 40.0% in the 2nd quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company’s stock valued at $40,000 after purchasing an additional 200 shares during the period. Finally, REAP Financial Group LLC grew its stake in shares of Pure Storage by 49.0% in the 2nd quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock valued at $35,000 after purchasing an additional 201 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insider Transactions at Pure Storage

In related news, insider Ajay Singh sold 7,014 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $85.85, for a total value of $602,151.90. Following the transaction, the insider owned 229,307 shares in the company, valued at $19,686,005.95. This trade represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mona Chu sold 9,091 shares of Pure Storage stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $84.91, for a total value of $771,916.81. Following the completion of the sale, the chief accounting officer owned 107,353 shares of the company’s stock, valued at approximately $9,115,343.23. The trade was a 7.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 327,311 shares of company stock valued at $27,896,100 over the last 90 days. 5.60% of the stock is currently owned by corporate insiders.

Pure Storage Trading Up 3.1%

PSTG opened at $69.14 on Friday. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $100.59. The stock has a market capitalization of $22.72 billion, a PE ratio of 181.95, a PEG ratio of 7.49 and a beta of 1.27. The firm has a 50-day moving average price of $84.87 and a two-hundred day moving average price of $72.46.

Pure Storage (NYSE:PSTG) last announced its earnings results on Tuesday, September 9th. The technology company reported $0.44 earnings per share (EPS) for the quarter. The company had revenue of $763.77 million for the quarter. Pure Storage had a net margin of 3.74% and a return on equity of 10.60%. On average, research analysts predict that Pure Storage, Inc. will post 0.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PSTG shares. Wedbush raised their target price on Pure Storage from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 3rd. Northland Securities set a $77.00 target price on shares of Pure Storage in a research note on Wednesday, December 3rd. TD Cowen increased their target price on shares of Pure Storage from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, December 3rd. Barclays lifted their price target on shares of Pure Storage from $70.00 to $77.00 and gave the company an “equal weight” rating in a report on Wednesday, December 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Pure Storage from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 3rd. Thirteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $95.26.

Pure Storage Company Profile

Pure Storage, Inc (NYSE: PSTG) is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays that are engineered to deliver high performance, low latency and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics and large-scale file/object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.