Retirement Systems of Alabama lowered its stake in shares of Pure Storage Inc (NYSE:PSTG) by 18.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 285,000 shares of the technology company’s stock after selling 65,000 shares during the quarter. Retirement Systems of Alabama owned approximately 0.13% of Pure Storage worth $4,557,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. First Trust Advisors LP boosted its position in shares of Pure Storage by 14.0% during the 2nd quarter. First Trust Advisors LP now owns 15,607 shares of the technology company’s stock worth $200,000 after purchasing an additional 1,919 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Pure Storage by 38.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,171 shares of the technology company’s stock worth $105,000 after purchasing an additional 2,284 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Pure Storage by 4.5% during the 2nd quarter. New York State Common Retirement Fund now owns 99,500 shares of the technology company’s stock worth $1,275,000 after purchasing an additional 4,278 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Pure Storage by 8.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 75,274 shares of the technology company’s stock worth $964,000 after purchasing an additional 6,169 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Pure Storage by 32.7% during the 1st quarter. Ameriprise Financial Inc. now owns 26,350 shares of the technology company’s stock worth $259,000 after purchasing an additional 6,500 shares in the last quarter. 38.46% of the stock is currently owned by institutional investors and hedge funds.
Pure Storage Inc (NYSE PSTG) traded up $0.25 during mid-day trading on Thursday, hitting $17.23. The company had a trading volume of 1,841,723 shares, compared to its average volume of 1,771,681. Pure Storage Inc has a twelve month low of $9.12 and a twelve month high of $19.27.
Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Tuesday, November 28th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. Pure Storage had a negative return on equity of 44.86% and a negative net margin of 22.86%. The company had revenue of $277.70 million during the quarter, compared to analysts’ expectations of $272.07 million. During the same quarter in the prior year, the business posted ($0.10) earnings per share. The company’s revenue for the quarter was up 41.0% compared to the same quarter last year. research analysts predict that Pure Storage Inc will post -0.93 earnings per share for the current year.
In other news, President David Hatfield sold 130,000 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $18.05, for a total transaction of $2,346,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Dietzen sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $17.22, for a total value of $3,444,000.00. The disclosure for this sale can be found here. Insiders sold a total of 517,028 shares of company stock valued at $8,748,635 in the last quarter. 46.58% of the stock is currently owned by corporate insiders.
PSTG has been the subject of several research reports. JMP Securities lifted their price target on Pure Storage from $16.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, October 13th. Oppenheimer reissued a “buy” rating and issued a $21.00 target price on shares of Pure Storage in a research note on Wednesday, November 29th. Robert W. Baird reissued a “hold” rating and issued a $20.00 target price on shares of Pure Storage in a research note on Wednesday, November 29th. Jefferies Group reaffirmed a “hold” rating and set a $13.50 price objective on shares of Pure Storage in a research note on Friday, August 25th. Finally, Susquehanna Bancshares reaffirmed a “positive” rating and set a $20.00 price objective (up previously from $18.00) on shares of Pure Storage in a research note on Thursday, October 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Pure Storage currently has a consensus rating of “Buy” and a consensus price target of $18.55.
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Pure Storage 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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