Quantbot Technologies LP Buys New Shares in Pure Storage, Inc. (NYSE:PSTG)

Quantbot Technologies LP purchased a new position in shares of Pure Storage, Inc. (NYSE:PSTG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 67,299 shares of the technology company’s stock, valued at approximately $3,381,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. O Shaughnessy Asset Management LLC bought a new stake in shares of Pure Storage in the 1st quarter valued at about $315,000. Tidal Investments LLC boosted its stake in shares of Pure Storage by 11.5% during the first quarter. Tidal Investments LLC now owns 40,438 shares of the technology company’s stock valued at $2,102,000 after purchasing an additional 4,180 shares during the period. Comerica Bank grew its holdings in shares of Pure Storage by 1.6% in the first quarter. Comerica Bank now owns 272,506 shares of the technology company’s stock worth $14,168,000 after purchasing an additional 4,287 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Pure Storage by 284.9% in the first quarter. Cetera Investment Advisers now owns 55,801 shares of the technology company’s stock worth $2,901,000 after buying an additional 41,305 shares during the period. Finally, Cetera Advisors LLC raised its holdings in Pure Storage by 3.0% during the 1st quarter. Cetera Advisors LLC now owns 19,214 shares of the technology company’s stock valued at $999,000 after buying an additional 555 shares during the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $49.94, for a total value of $4,994,000.00. Following the transaction, the insider now directly owns 500,000 shares in the company, valued at $24,970,000. The trade was a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mona Chu sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total value of $1,258,000.00. Following the transaction, the chief accounting officer now owns 96,639 shares of the company’s stock, valued at approximately $4,862,874.48. The trade was a 20.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 354,542 shares of company stock worth $18,599,030 over the last quarter. Company insiders own 6.00% of the company’s stock.

Pure Storage Trading Down 3.1 %

Pure Storage stock opened at $52.93 on Thursday. Pure Storage, Inc. has a one year low of $31.00 and a one year high of $70.41. The business’s fifty day moving average is $51.95 and its 200 day moving average is $56.86. The stock has a market capitalization of $17.34 billion, a PE ratio of 132.33, a price-to-earnings-growth ratio of 7.30 and a beta of 1.10. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.10. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. The firm had revenue of $763.77 million for the quarter, compared to the consensus estimate of $756.59 million. On average, sell-side analysts predict that Pure Storage, Inc. will post 0.42 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PSTG. Needham & Company LLC decreased their price objective on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Northland Securities reaffirmed a “market perform” rating and issued a $59.00 target price (down from $68.00) on shares of Pure Storage in a research report on Thursday, August 29th. Stifel Nicolaus reduced their target price on Pure Storage from $65.00 to $60.00 and set a “hold” rating on the stock in a report on Thursday, August 29th. Piper Sandler lowered their target price on Pure Storage from $60.00 to $56.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Finally, Raymond James reduced their price target on Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Pure Storage has an average rating of “Moderate Buy” and a consensus price target of $67.95.

Pure Storage Profile

Pure Storage, Inc engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.