Virtu KCG Holdings LLC purchased a new stake in Pure Storage, Inc. (NYSE:PSTG) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 25,816 shares of the technology company’s stock, valued at approximately $331,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. First Trust Advisors LP bought a new stake in Pure Storage in the first quarter valued at $135,000. Point72 Asia Hong Kong Ltd increased its stake in Pure Storage by 34.7% in the first quarter. Point72 Asia Hong Kong Ltd now owns 13,815 shares of the technology company’s stock valued at $136,000 after purchasing an additional 3,557 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Pure Storage by 641.5% in the second quarter. BNP Paribas Arbitrage SA now owns 11,649 shares of the technology company’s stock valued at $149,000 after purchasing an additional 10,078 shares in the last quarter. Amalgamated Bank bought a new stake in Pure Storage in the second quarter valued at $151,000. Finally, Principal Financial Group Inc. bought a new stake in Pure Storage in the second quarter valued at $166,000. 35.34% of the stock is owned by hedge funds and other institutional investors.
PSTG has been the subject of several recent research reports. BTIG Research boosted their target price on shares of Pure Storage from $14.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. BidaskClub raised shares of Pure Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. JMP Securities boosted their target price on shares of Pure Storage from $16.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, October 13th. Susquehanna Bancshares Inc reissued a “positive” rating and set a $20.00 target price (up from $18.00) on shares of Pure Storage in a research report on Thursday, October 5th. Finally, UBS AG reissued a “buy” rating and set a $18.00 target price (up from $15.00) on shares of Pure Storage in a research report on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $16.36.
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Shares of Pure Storage, Inc. (NYSE:PSTG) opened at 16.42 on Friday. The firm’s 50-day moving average is $15.53 and its 200 day moving average is $13.19. Pure Storage, Inc. has a 12 month low of $9.12 and a 12 month high of $16.64. The stock’s market cap is $3.47 billion.
Pure Storage (NYSE:PSTG) last announced its earnings results on Thursday, August 24th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.20. The firm had revenue of $224.50 million for the quarter, compared to analyst estimates of $217.97 million. Pure Storage had a negative return on equity of 46.12% and a negative net margin of 29.55%. The business’s revenue was up 37.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.16) EPS. On average, equities analysts predict that Pure Storage, Inc. will post ($0.22) EPS for the current year.
In other Pure Storage news, CFO Timothy Riitters sold 5,000 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $14.56, for a total value of $72,800.00. Following the transaction, the chief financial officer now owns 282,200 shares in the company, valued at approximately $4,108,832. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President David Hatfield sold 40,000 shares of the firm’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $16.00, for a total value of $640,000.00. Following the completion of the sale, the president now directly owns 225,190 shares of the company’s stock, valued at $3,603,040. The disclosure for this sale can be found here. Insiders sold a total of 242,028 shares of company stock worth $3,773,235 in the last 90 days. 46.58% of the stock is currently owned by insiders.
Pure Storage Company Profile
Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.
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