Cerity Partners LLC decreased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG – Get Rating) by 40.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,481 shares of the technology company’s stock after selling 6,463 shares during the quarter. Cerity Partners LLC’s holdings in Pure Storage were worth $244,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of PSTG. Bank of Nova Scotia acquired a new position in Pure Storage during the first quarter worth about $43,620,000. Principal Financial Group Inc. grew its holdings in shares of Pure Storage by 3,552.7% during the first quarter. Principal Financial Group Inc. now owns 1,032,551 shares of the technology company’s stock worth $36,460,000 after purchasing an additional 1,004,283 shares during the last quarter. Prudential Financial Inc. bought a new stake in shares of Pure Storage during the first quarter worth about $30,761,000. Renaissance Technologies LLC grew its holdings in shares of Pure Storage by 243.4% during the first quarter. Renaissance Technologies LLC now owns 897,300 shares of the technology company’s stock worth $31,684,000 after purchasing an additional 636,000 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Pure Storage by 45.9% during the first quarter. Federated Hermes Inc. now owns 1,719,355 shares of the technology company’s stock worth $60,710,000 after purchasing an additional 541,230 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.
Wall Street Analyst Weigh In
PSTG has been the topic of several research reports. The Goldman Sachs Group boosted their price target on Pure Storage to $44.00 in a report on Tuesday, September 6th. Barclays boosted their price target on Pure Storage from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Thursday, September 1st. Northland Securities upped their target price on Pure Storage from $44.00 to $47.00 in a report on Thursday, September 1st. Wedbush upped their target price on Pure Storage from $30.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, September 1st. Finally, UBS Group upped their target price on Pure Storage to $33.00 in a report on Tuesday, September 6th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $38.53.
Insider Transactions at Pure Storage
Pure Storage Stock Down 1.0 %
Shares of NYSE:PSTG opened at $30.45 on Tuesday. Pure Storage, Inc. has a twelve month low of $21.90 and a twelve month high of $36.71. The stock’s 50 day moving average is $28.89 and its 200-day moving average is $27.76. The firm has a market capitalization of $9.10 billion, a price-to-earnings ratio of -507.42, a PEG ratio of 8.18 and a beta of 1.32.
Pure Storage (NYSE:PSTG – Get Rating) last issued its earnings results on Wednesday, August 31st. The technology company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.10. Pure Storage had a positive return on equity of 8.41% and a negative net margin of 0.57%. The company had revenue of $646.80 million for the quarter, compared to analyst estimates of $636.06 million. During the same period in the prior year, the firm earned ($0.06) earnings per share. Pure Storage’s revenue for the quarter was up 30.2% on a year-over-year basis. Equities research analysts anticipate that Pure Storage, Inc. will post 0.11 earnings per share for the current fiscal year.
Pure Storage Profile
Pure Storage, Inc provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.
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