Renaissance Technologies LLC raised its holdings in shares of Pure Storage Inc (NYSE:PSTG) by 53.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,887,800 shares of the technology company’s stock after buying an additional 2,042,985 shares during the quarter. Renaissance Technologies LLC owned about 2.72% of Pure Storage worth $93,381,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in PSTG. BlackRock Inc. lifted its position in shares of Pure Storage by 11.0% during the fourth quarter. BlackRock Inc. now owns 16,162,210 shares of the technology company’s stock worth $256,332,000 after purchasing an additional 1,598,653 shares in the last quarter. Okumus Fund Management Ltd. lifted its position in shares of Pure Storage by 4.1% during the third quarter. Okumus Fund Management Ltd. now owns 5,299,197 shares of the technology company’s stock worth $84,734,000 after purchasing an additional 206,943 shares in the last quarter. State Street Corp lifted its position in shares of Pure Storage by 35.1% during the second quarter. State Street Corp now owns 1,602,236 shares of the technology company’s stock worth $20,528,000 after purchasing an additional 416,577 shares in the last quarter. Champlain Investment Partners LLC lifted its position in shares of Pure Storage by 6.7% during the fourth quarter. Champlain Investment Partners LLC now owns 1,559,095 shares of the technology company’s stock worth $24,727,000 after purchasing an additional 98,470 shares in the last quarter. Finally, Thornburg Investment Management Inc. increased its stake in shares of Pure Storage by 4.5% during the third quarter. Thornburg Investment Management Inc. now owns 1,511,639 shares of the technology company’s stock worth $24,171,000 after buying an additional 64,630 shares during the period. 45.49% of the stock is currently owned by hedge funds and other institutional investors.
PSTG has been the topic of several recent analyst reports. Vetr downgraded Pure Storage from a “strong-buy” rating to a “buy” rating and set a $21.96 price objective for the company. in a report on Monday, January 29th. Bank of America increased their price target on Pure Storage from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, March 2nd. Wells Fargo increased their price target on Pure Storage from $23.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, March 2nd. Barclays raised Pure Storage from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $19.00 to $22.00 in a report on Wednesday, January 17th. Finally, Oppenheimer reissued a “buy” rating and issued a $21.00 target price on shares of Pure Storage in a report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $21.29.
Pure Storage Inc (PSTG) traded up $0.15 during midday trading on Friday, hitting $20.62. The stock had a trading volume of 5,259,015 shares, compared to its average volume of 3,260,233. The firm has a market cap of $4,437.53, a price-to-earnings ratio of -24.55 and a beta of 1.23. Pure Storage Inc has a fifty-two week low of $9.61 and a fifty-two week high of $22.60.
Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Thursday, March 1st. The technology company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.07 by $0.06. The firm had revenue of $338.30 million for the quarter, compared to analyst estimates of $331.80 million. Pure Storage had a negative return on equity of 38.70% and a negative net margin of 17.36%. Pure Storage’s revenue for the quarter was up 48.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.02) EPS. research analysts forecast that Pure Storage Inc will post -0.78 earnings per share for the current year.
In other news, President David Hatfield sold 70,000 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $16.95, for a total value of $1,186,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott Dietzen sold 125,000 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $19.55, for a total value of $2,443,750.00. The disclosure for this sale can be found here. Insiders have sold a total of 635,206 shares of company stock worth $11,807,746 over the last 90 days. 46.58% of the stock is owned by company insiders.
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About Pure Storage
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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