Sei Investments Co. acquired a new position in Pure Storage Inc (NYSE:PSTG) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 40,100 shares of the technology company’s stock, valued at approximately $641,000.
Other large investors have also recently made changes to their positions in the company. Ameritas Investment Partners Inc. raised its stake in shares of Pure Storage by 38.8% in the second 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 during the last quarter. BNP Paribas Arbitrage SA raised 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 valued at $149,000 after acquiring an additional 10,078 shares in the last quarter. Amalgamated Bank purchased a new position in Pure Storage during the second quarter valued at approximately $151,000. Principal Financial Group Inc. purchased a new position in Pure Storage during the second quarter valued at approximately $166,000. Finally, Verition Fund Management LLC purchased a new position in Pure Storage during the second quarter valued at approximately $184,000. Hedge funds and other institutional investors own 38.46% of the company’s stock.
Pure Storage Inc (NYSE:PSTG) traded up $0.02 during trading on Monday, hitting $17.25. The stock had a trading volume of 1,485,200 shares, compared to its average volume of 1,770,548. Pure Storage Inc has a 1-year low of $9.12 and a 1-year high of $19.27.
Pure Storage (NYSE:PSTG) last posted its quarterly earnings data on Tuesday, November 28th. The technology company reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.02. The business had revenue of $277.70 million during the quarter, compared to analysts’ expectations of $272.07 million. Pure Storage had a negative return on equity of 44.86% and a negative net margin of 22.86%. The business’s revenue was up 41.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.10) earnings per share. sell-side analysts anticipate that Pure Storage Inc will post -0.93 EPS for the current fiscal year.
Several research analysts recently weighed in on the company. Robert W. Baird set a $14.00 price target on Pure Storage and gave the company a “hold” rating in a research report on Monday, August 14th. BidaskClub upgraded Pure Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Lake Street Capital set a $21.00 price target on Pure Storage and gave the company a “buy” rating in a research report on Wednesday, November 29th. They noted that the move was a valuation call. Maxim Group reiterated a “hold” rating and set a $20.00 price target (up from $15.00) on shares of Pure Storage in a research report on Wednesday, November 29th. Finally, KeyCorp reiterated a “buy” rating and set a $24.00 price target on shares of Pure Storage in a research report on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $18.55.
In other news, CFO Timothy Riitters sold 15,175 shares of Pure Storage stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $15.55, for a total value of $235,971.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President David Hatfield sold 40,000 shares of Pure Storage stock in a transaction that occurred 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 in the company, valued at $3,603,040. The disclosure for this sale can be found here. Insiders sold 512,028 shares of company stock worth $8,675,835 over the last ninety days. Corporate insiders own 41.47% of the company’s stock.
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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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