Corient Private Wealth LLC Has $1.77 Million Position in Pure Storage, Inc. $PSTG

Corient Private Wealth LLC raised its stake in Pure Storage, Inc. (NYSE:PSTG) by 42.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,842 shares of the technology company’s stock after buying an additional 9,526 shares during the quarter. Corient Private Wealth LLC’s holdings in Pure Storage were worth $1,771,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of PSTG. Vanguard Group Inc. boosted its position in Pure Storage by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 33,268,006 shares of the technology company’s stock worth $1,915,572,000 after acquiring an additional 308,738 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Pure Storage by 1.7% during the second quarter. Geode Capital Management LLC now owns 7,273,696 shares of the technology company’s stock worth $417,830,000 after purchasing an additional 123,320 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in Pure Storage by 112.9% during the second quarter. William Blair Investment Management LLC now owns 4,926,836 shares of the technology company’s stock worth $283,687,000 after purchasing an additional 2,612,300 shares during the last quarter. Norges Bank bought a new position in Pure Storage in the second quarter valued at $225,203,000. Finally, Atreides Management LP acquired a new stake in Pure Storage in the 2nd quarter valued at $204,552,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Pure Storage Stock Down 0.2%

Shares of PSTG stock opened at $67.22 on Wednesday. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $100.59. The company has a market capitalization of $22.19 billion, a PE ratio of 176.88, a price-to-earnings-growth ratio of 7.52 and a beta of 1.27. The firm has a 50 day moving average price of $83.86 and a two-hundred day moving average price of $72.88.

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

Insider Transactions at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $71.31, for a total value of $7,131,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ajay Singh sold 7,178 shares of Pure Storage stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total value of $481,930.92. Following the completion of the transaction, the insider directly owned 215,091 shares of the company’s stock, valued at $14,441,209.74. This represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 316,269 shares of company stock valued at $26,792,848. 5.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PSTG shares. Cowen restated a “buy” rating on shares of Pure Storage in a research note on Wednesday, December 3rd. Bank of America raised their price target on Pure Storage from $76.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, August 28th. Raymond James Financial boosted their price target on Pure Storage from $88.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Lake Street Capital upped their price objective on Pure Storage from $80.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, December 3rd. Finally, Morgan Stanley set a $83.00 target price on shares of Pure Storage in a report on Wednesday, December 3rd. Thirteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.26.

About Pure Storage

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.