JPMorgan Chase & Co. lifted its position in Pure Storage Inc (NYSE:PSTG) by 63.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 122,807 shares of the technology company’s stock after buying an additional 47,533 shares during the quarter. JPMorgan Chase & Co. owned about 0.06% of Pure Storage worth $1,958,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of PSTG. Ameritas Investment Partners Inc. increased its position in Pure Storage by 38.8% during the second quarter. Ameritas Investment Partners Inc. now owns 8,171 shares of the technology company’s stock worth $105,000 after acquiring an additional 2,284 shares during the period. Great West Life Assurance Co. Can increased its position in Pure Storage by 151.3% during the third quarter. Great West Life Assurance Co. Can now owns 11,310 shares of the technology company’s stock worth $180,000 after acquiring an additional 6,810 shares during the period. BNP Paribas Arbitrage SA increased its position in Pure Storage by 641.5% during the second quarter. BNP Paribas Arbitrage SA now owns 11,649 shares of the technology company’s stock worth $149,000 after acquiring an additional 10,078 shares during the period. Amalgamated Bank bought a new position in Pure Storage during the second quarter worth $151,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in Pure Storage during the third quarter worth $205,000. Institutional investors and hedge funds own 37.50% of the company’s stock.
Shares of Pure Storage Inc (PSTG) traded down $0.21 during midday trading on Wednesday, reaching $20.14. 2,289,847 shares of the company traded hands, compared to its average volume of 2,400,083. The firm has a market cap of $4,550.00 and a P/E ratio of -19.68. Pure Storage Inc has a 1-year low of $9.12 and a 1-year high of $21.23.
Pure Storage (NYSE:PSTG) last issued 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. The business had revenue of $277.70 million for the quarter, compared to the consensus estimate of $272.07 million. Pure Storage had a negative net margin of 22.86% and a negative return on equity of 44.96%. The firm’s quarterly revenue was up 41.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.10) EPS. analysts predict that Pure Storage Inc will post -0.93 EPS for the current year.
In other Pure Storage news, President David Hatfield sold 130,000 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were 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 SEC, which is available through this hyperlink. Also, major shareholder Stefan A. Dyckerhoff sold 25,407 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $17.05, for a total transaction of $433,189.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 867,362 shares of company stock worth $15,356,864. 41.47% of the stock is owned by corporate insiders.
A number of equities analysts recently issued reports on the stock. Vetr lowered shares of Pure Storage from a “strong-buy” rating to a “buy” rating and set a $21.96 target price on the stock. in a research report on Monday. Oppenheimer reissued a “buy” rating and issued a $21.00 price target on shares of Pure Storage in a report on Wednesday, November 29th. Barclays reissued a “hold” rating and issued a $19.00 price target on shares of Pure Storage in a report on Wednesday, November 29th. BMO Capital Markets boosted their price target on shares of Pure Storage to $22.00 and gave the company an “outperform” rating in a report on Wednesday, November 29th. Finally, Lake Street Capital set a $21.00 price target on shares of Pure Storage and gave the company a “buy” rating in a report on Wednesday, November 29th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $19.02.
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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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