Asset Management One Co. Ltd. Acquires 630 Shares of Pure Storage, Inc. (NYSE:PSTG)

Asset Management One Co. Ltd. lifted its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 20.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,681 shares of the technology company’s stock after purchasing an additional 630 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Pure Storage were worth $133,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Global Retirement Partners LLC bought a new position in Pure Storage in the third quarter valued at approximately $28,000. ST Germain D J Co. Inc. bought a new stake in shares of Pure Storage during the second quarter worth $32,000. Parkside Financial Bank & Trust bought a new stake in shares of Pure Storage during the first quarter worth $33,000. Quarry LP grew its stake in shares of Pure Storage by 51.7% during the first quarter. Quarry LP now owns 1,784 shares of the technology company’s stock worth $46,000 after buying an additional 608 shares during the last quarter. Finally, Penserra Capital Management LLC bought a new stake in shares of Pure Storage during the first quarter worth $47,000. 83.42% of the stock is owned by institutional investors.

Insider Transactions at Pure Storage

In other news, insider Ajay Singh sold 37,588 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $53.54, for a total transaction of $2,012,461.52. Following the completion of the sale, the insider now directly owns 380,834 shares of the company’s stock, valued at $20,389,852.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Ajay Singh sold 37,588 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $53.54, for a total transaction of $2,012,461.52. Following the completion of the sale, the insider now directly owns 380,834 shares of the company’s stock, valued at $20,389,852.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Roxanne Taylor sold 36,860 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $53.76, for a total transaction of $1,981,593.60. Following the sale, the director now directly owns 18,883 shares of the company’s stock, valued at $1,015,150.08. The disclosure for this sale can be found here. 6.50% of the stock is currently owned by insiders.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $53.43 on Monday. The firm’s 50-day moving average price is $49.14 and its 200-day moving average price is $40.67. Pure Storage, Inc. has a 1-year low of $22.14 and a 1-year high of $58.46. The firm has a market capitalization of $17.36 billion, a P/E ratio of 314.29, a P/E/G ratio of 6.94 and a beta of 1.15. The company has a current ratio of 1.83, a quick ratio of 1.80 and a debt-to-equity ratio of 0.08.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.10. The firm had revenue of $789.81 million for the quarter, compared to analyst estimates of $784.31 million. Pure Storage had a net margin of 2.17% and a return on equity of 12.60%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 earnings per share. Equities research analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PSTG has been the topic of a number of research reports. KeyCorp boosted their target price on shares of Pure Storage from $51.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Bank of America lifted their price target on shares of Pure Storage from $42.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Susquehanna lifted their price target on shares of Pure Storage from $45.00 to $65.00 and gave the stock a “positive” rating in a report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of Pure Storage from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Finally, Stifel Nicolaus boosted their target price on shares of Pure Storage from $41.00 to $46.00 and gave the company a “hold” rating in a report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Pure Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.53.

About Pure Storage

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.