Caxton Associates LP Invests $2.02 Million in Pure Storage, Inc. (NYSE:PSTG)

Caxton Associates LP acquired a new stake in Pure Storage, Inc. (NYSE:PSTG) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 38,797 shares of the technology company’s stock, valued at approximately $2,017,000.

Several other hedge funds have also recently bought and sold shares of PSTG. Raymond James & Associates lifted its position in Pure Storage by 11.1% in the 4th quarter. Raymond James & Associates now owns 306,862 shares of the technology company’s stock valued at $10,943,000 after purchasing an additional 30,642 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Pure Storage by 8.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 112,622 shares of the technology company’s stock worth $4,016,000 after buying an additional 8,390 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Pure Storage during the 4th quarter worth about $67,000. Fifth Third Bancorp raised its position in shares of Pure Storage by 48.5% during the 4th quarter. Fifth Third Bancorp now owns 2,227 shares of the technology company’s stock worth $79,000 after buying an additional 727 shares in the last quarter. Finally, JB Capital LLC raised its position in shares of Pure Storage by 9.1% during the 4th quarter. JB Capital LLC now owns 31,847 shares of the technology company’s stock worth $1,136,000 after buying an additional 2,659 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Stock Down 1.9 %

PSTG traded down $1.10 on Tuesday, reaching $57.10. 797,035 shares of the company traded hands, compared to its average volume of 4,048,866. The stock’s 50 day moving average price is $63.32 and its 200-day moving average price is $53.88. Pure Storage, Inc. has a 52-week low of $31.00 and a 52-week high of $70.41. The company has a market cap of $18.57 billion, a price-to-earnings ratio of 208.00, a PEG ratio of 5.87 and a beta of 1.11. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.96.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Wednesday, May 29th. The technology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. Pure Storage had a net margin of 3.19% and a return on equity of 15.34%. The firm had revenue of $693.48 million for the quarter, compared to the consensus estimate of $681.37 million. On average, sell-side analysts expect that Pure Storage, Inc. will post 0.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on PSTG shares. Northland Capmk downgraded shares of Pure Storage from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 30th. TD Cowen boosted their price target on shares of Pure Storage from $60.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. StockNews.com upgraded shares of Pure Storage from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. Northland Securities downgraded shares of Pure Storage from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $58.00 to $68.00 in a research report on Thursday, May 30th. Finally, Lake Street Capital lifted their price objective on shares of Pure Storage from $48.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $69.11.

Insider Activity at Pure Storage

In related news, CFO P. Kevan Krysler sold 14,296 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $63.79, for a total transaction of $911,941.84. Following the transaction, the chief financial officer now directly owns 518,623 shares of the company’s stock, valued at $33,082,961.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Pure Storage news, Director Mallun Yen sold 4,818 shares of Pure Storage stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $64.78, for a total value of $312,110.04. Following the completion of the sale, the director now directly owns 35,498 shares in the company, valued at $2,299,560.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO P. Kevan Krysler sold 14,296 shares of Pure Storage stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $63.79, for a total transaction of $911,941.84. Following the completion of the sale, the chief financial officer now owns 518,623 shares of the company’s stock, valued at $33,082,961.17. The disclosure for this sale can be found here. Over the last three months, insiders have sold 119,114 shares of company stock valued at $7,174,052. Corporate insiders own 6.00% of the company’s stock.

Pure Storage Company 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.