11,476 Shares in Pure Storage, Inc. $PSTG Purchased by Allstate Corp

Allstate Corp acquired a new position in shares of Pure Storage, Inc. (NYSE:PSTG) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,476 shares of the technology company’s stock, valued at approximately $962,000.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Pure Storage by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 33,268,006 shares of the technology company’s stock valued at $1,915,572,000 after acquiring an additional 308,738 shares during the period. Geode Capital Management LLC grew 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 valued at $417,830,000 after purchasing an additional 123,320 shares during the period. William Blair Investment Management LLC grew 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 valued at $283,687,000 after purchasing an additional 2,612,300 shares during the period. Norges Bank purchased a new stake in Pure Storage in the second quarter worth $225,203,000. Finally, Atreides Management LP bought a new stake in shares of Pure Storage in the second quarter valued at $204,552,000. Institutional investors own 83.42% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on PSTG shares. Piper Sandler set a $92.00 price target on Pure Storage and gave the stock an “overweight” rating in a research note on Thursday, September 25th. Morgan Stanley set a $83.00 target price on shares of Pure Storage in a research report on Wednesday, December 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Pure Storage in a research note on Wednesday, October 8th. Wells Fargo & Company upped their price target on shares of Pure Storage from $80.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. Finally, Northland Securities set a $77.00 price objective on shares of Pure Storage in a research note on Wednesday, December 3rd. Twelve investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Pure Storage presently has an average rating of “Moderate Buy” and an average price target of $95.26.

Insiders Place Their Bets

In other news, 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 transaction of $481,930.92. Following the completion of the sale, the insider directly owned 215,091 shares of the company’s stock, valued at approximately $14,441,209.74. The trade was a 3.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $71.31, for a total value of $7,131,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 207,178 shares of company stock valued at $16,771,931 over the last ninety days. 5.60% of the stock is currently owned by insiders.

Pure Storage Stock Up 2.4%

Pure Storage stock opened at $71.71 on Thursday. The stock has a market cap of $23.68 billion, a price-to-earnings ratio of 188.71, a PEG ratio of 7.78 and a beta of 1.26. The business has a 50-day simple moving average of $73.88 and a 200 day simple moving average of $74.98. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $100.59.

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

Pure Storage 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.