GSA Capital Partners LLP Raises Stock Position in Pure Storage, Inc. (NYSE:PSTG)

GSA Capital Partners LLP boosted its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 107.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 20,171 shares of the technology company’s stock after purchasing an additional 10,435 shares during the period. GSA Capital Partners LLP’s holdings in Pure Storage were worth $1,049,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PSTG. Vanguard Group Inc. lifted its holdings in shares of Pure Storage by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 31,294,297 shares of the technology company’s stock worth $1,115,955,000 after acquiring an additional 567,358 shares during the last quarter. First Trust Advisors LP increased its position in shares of Pure Storage by 4.2% during the 4th quarter. First Trust Advisors LP now owns 4,028,716 shares of the technology company’s stock valued at $143,664,000 after purchasing an additional 160,877 shares during the last quarter. Norges Bank purchased a new position in shares of Pure Storage during the 4th quarter valued at about $115,452,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Pure Storage by 83.9% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,068,255 shares of the technology company’s stock valued at $73,754,000 after buying an additional 943,850 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. boosted its stake in Pure Storage by 83.9% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 2,068,255 shares of the technology company’s stock worth $73,733,000 after buying an additional 943,850 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Up 1.6 %

NYSE:PSTG traded up $1.08 during mid-day trading on Wednesday, hitting $66.96. 955,698 shares of the company’s stock were exchanged, compared to its average volume of 4,208,608. Pure Storage, Inc. has a one year low of $31.00 and a one year high of $70.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.96. The business has a fifty day moving average price of $61.50 and a 200 day moving average price of $51.38. The company has a market cap of $21.78 billion, a PE ratio of 237.57, a P/E/G ratio of 6.57 and a beta of 1.11.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data on Wednesday, May 29th. The technology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. Pure Storage had a net margin of 3.19% and a return on equity of 15.34%. The business had revenue of $693.48 million for the quarter, compared to analyst estimates of $681.37 million. Equities analysts predict that Pure Storage, Inc. will post 0.47 EPS for the current year.

Analyst Upgrades and Downgrades

PSTG has been the subject of a number of recent research reports. StockNews.com upgraded shares of Pure Storage from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Guggenheim reissued a “buy” rating and issued a $72.00 price target on shares of Pure Storage in a research note on Tuesday, June 25th. Evercore ISI boosted their price target on shares of Pure Storage from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, May 30th. KeyCorp boosted their price target on shares of Pure Storage from $64.00 to $79.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Finally, Morgan Stanley downgraded shares of Pure Storage from an “overweight” rating to an “equal weight” rating and set a $60.00 price target for the company. in a research note on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pure Storage currently has an average rating of “Moderate Buy” and an average price target of $69.11.

Insider Transactions at Pure Storage

In other news, CRO Dan Fitzsimons sold 29,283 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $52.14, for a total value of $1,526,815.62. Following the transaction, the executive now owns 138,105 shares in the company, valued at $7,200,794.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CRO Dan Fitzsimons sold 29,283 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $52.14, for a total value of $1,526,815.62. Following the transaction, the executive now owns 138,105 shares in the company, valued at $7,200,794.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andrew William Fraser Brown sold 20,564 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $52.31, for a total transaction of $1,075,702.84. Following the completion of the transaction, the director now owns 24,400 shares in the company, valued at approximately $1,276,364. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 231,247 shares of company stock worth $12,496,701. Corporate insiders own 6.00% of the company’s stock.

About Pure Storage

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.