Eventide Asset Management LLC Buys New Position in Pure Storage, Inc. (NYSE:PSTG)

Eventide Asset Management LLC bought a new position in Pure Storage, Inc. (NYSE:PSTG) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 39,287 shares of the technology company’s stock, valued at approximately $1,974,000.

Several other institutional investors have also recently added to or reduced their stakes in PSTG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Pure Storage by 3.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,861,621 shares of the technology company’s stock valued at $143,768,000 after acquiring an additional 93,106 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Pure Storage by 5.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 72,021 shares of the technology company’s stock worth $3,618,000 after purchasing an additional 3,753 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Pure Storage by 377.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 8,381 shares of the technology company’s stock worth $421,000 after purchasing an additional 6,627 shares during the period. Blueshift Asset Management LLC bought a new stake in Pure Storage in the third quarter valued at $304,000. Finally, Glenmede Trust Co. NA boosted its position in shares of Pure Storage by 38.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 683,464 shares of the technology company’s stock worth $34,337,000 after purchasing an additional 190,225 shares in the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.

Pure Storage Trading Up 0.2 %

Shares of Pure Storage stock opened at $52.99 on Friday. The stock has a fifty day moving average price of $52.06 and a 200-day moving average price of $56.82. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. The firm has a market cap of $17.36 billion, a PE ratio of 132.48, a P/E/G ratio of 7.18 and a beta of 1.10. Pure Storage, Inc. has a 1 year low of $31.00 and a 1 year high of $70.41.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. The business had revenue of $763.77 million during the quarter, compared to the consensus estimate of $756.59 million. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. Equities research analysts anticipate that Pure Storage, Inc. will post 0.42 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PSTG shares. Wedbush reaffirmed an “outperform” rating and issued a $80.00 target price on shares of Pure Storage in a research report on Monday, August 26th. Lake Street Capital decreased their price objective on Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Piper Sandler cut their target price on Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Evercore ISI decreased their price target on shares of Pure Storage from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Finally, UBS Group lowered their price objective on shares of Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.95.

Insider Transactions at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the completion of the transaction, the insider now owns 500,000 shares in the company, valued at approximately $24,970,000. This represents a 16.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.67, for a total value of $450,709.65. Following the completion of the sale, the executive now directly owns 94,446 shares of the company’s stock, valued at approximately $4,785,578.82. This trade represents a 8.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 354,542 shares of company stock worth $18,599,030 in the last quarter. Insiders own 6.00% of the company’s stock.

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.