State of New Jersey Common Pension Fund D Sells 4,720 Shares of Pure Storage, Inc. (NYSE:PSTG)

State of New Jersey Common Pension Fund D cut its stake in shares of Pure Storage, Inc. (NYSE:PSTGFree Report) by 2.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 169,505 shares of the technology company’s stock after selling 4,720 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.05% of Pure Storage worth $6,038,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Pure Storage by 121.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,660 shares of the technology company’s stock valued at $765,000 after buying an additional 11,891 shares during the last quarter. Private Advisor Group LLC bought a new position in shares of Pure Storage in the first quarter valued at about $233,000. MetLife Investment Management LLC bought a new position in shares of Pure Storage in the first quarter valued at about $596,000. Synovus Financial Corp raised its holdings in shares of Pure Storage by 1.7% in the first quarter. Synovus Financial Corp now owns 43,894 shares of the technology company’s stock valued at $1,547,000 after buying an additional 744 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Pure Storage by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,035,914 shares of the technology company’s stock valued at $36,582,000 after buying an additional 6,756 shares during the last quarter. 82.98% of the stock is owned by institutional investors.

Insider Activity at Pure Storage

In related news, Director Roxanne Taylor sold 16,216 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $37.05, for a total value of $600,802.80. Following the completion of the transaction, the director now directly owns 55,743 shares in the company, valued at approximately $2,065,278.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Roxanne Taylor sold 16,216 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $37.05, for a total value of $600,802.80. Following the completion of the transaction, the director now directly owns 55,743 shares in the company, valued at approximately $2,065,278.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory Tomb sold 8,475 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $32.53, for a total value of $275,691.75. Following the completion of the transaction, the director now owns 30,612 shares of the company’s stock, valued at $995,808.36. The disclosure for this sale can be found here. 6.50% of the stock is owned by insiders.

Pure Storage Price Performance

Pure Storage stock opened at $44.51 on Tuesday. The firm has a market capitalization of $14.06 billion, a P/E ratio of 234.28, a PEG ratio of 6.59 and a beta of 1.11. Pure Storage, Inc. has a 1 year low of $22.14 and a 1 year high of $45.34. The business has a 50-day moving average of $37.79 and a 200-day moving average of $36.62. The company has a current ratio of 1.82, a quick ratio of 1.78 and a debt-to-equity ratio of 0.09.

Pure Storage (NYSE:PSTGGet Free Report) last posted its earnings results on Wednesday, November 29th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.10. Pure Storage had a return on equity of 13.10% and a net margin of 2.47%. The company had revenue of $762.80 million during the quarter, compared to analyst estimates of $761.49 million. During the same period in the previous year, the company earned $0.08 EPS. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities analysts anticipate that Pure Storage, Inc. will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Guggenheim assumed coverage on Pure Storage in a report on Thursday, December 7th. They issued a “buy” rating and a $48.00 price target for the company. Wedbush dropped their price objective on Pure Storage from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, November 30th. TD Cowen dropped their price objective on Pure Storage from $50.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday, November 30th. JPMorgan Chase & Co. dropped their price objective on Pure Storage from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, November 30th. Finally, Morgan Stanley dropped their price objective on Pure Storage from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, November 30th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.19.

Check Out Our Latest Stock Report on PSTG

Pure Storage Company Profile

(Free Report)

Pure Storage, Inc, together with its subsidiaries, 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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Institutional Ownership by Quarter for Pure Storage (NYSE:PSTG)

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