122,950 Shares in Pure Storage Inc (PSTG) Purchased by EAM Investors LLC

EAM Investors LLC purchased a new position in shares of Pure Storage Inc (NYSE:PSTG) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 122,950 shares of the technology company’s stock, valued at approximately $3,191,000. EAM Investors LLC owned 0.05% of Pure Storage as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of PSTG. FMR LLC raised its stake in shares of Pure Storage by 66.8% in the second quarter. FMR LLC now owns 15,114,725 shares of the technology company’s stock worth $360,940,000 after purchasing an additional 6,055,122 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Pure Storage by 38.3% in the third quarter. JPMorgan Chase & Co. now owns 2,666,222 shares of the technology company’s stock worth $69,188,000 after purchasing an additional 738,838 shares during the last quarter. Morgan Stanley raised its stake in shares of Pure Storage by 175.7% in the second quarter. Morgan Stanley now owns 2,480,932 shares of the technology company’s stock worth $59,244,000 after purchasing an additional 1,581,205 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Pure Storage by 165.3% in the second quarter. Bank of America Corp DE now owns 2,322,372 shares of the technology company’s stock worth $55,458,000 after purchasing an additional 1,446,951 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Pure Storage by 414.7% in the third quarter. First Trust Advisors LP now owns 2,179,168 shares of the technology company’s stock worth $56,549,000 after purchasing an additional 1,755,742 shares during the last quarter. 72.54% of the stock is currently owned by institutional investors and hedge funds.

In other Pure Storage news, CEO Charles H. Giancarlo sold 54,990 shares of the stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $27.46, for a total transaction of $1,510,025.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Timothy Riitters sold 4,500 shares of the stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $28.22, for a total value of $126,990.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 214,417 shares of company stock valued at $5,780,580. 15.30% of the stock is owned by corporate insiders.

Several brokerages have recently commented on PSTG. ValuEngine downgraded Pure Storage from a “buy” rating to a “hold” rating in a research note on Tuesday, November 13th. Goldman Sachs Group raised Pure Storage from a “sell” rating to a “neutral” rating and set a $23.00 price objective for the company in a research note on Wednesday, October 17th. William Blair reissued an “outperform” rating on shares of Pure Storage in a research note on Wednesday, October 10th. Bank of America reissued a “buy” rating and issued a $33.00 price objective on shares of Pure Storage in a research note on Wednesday, September 19th. Finally, Citigroup increased their price objective on Pure Storage to $34.00 and gave the stock a “buy” rating in a research note on Thursday, September 6th. Eight analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Pure Storage presently has a consensus rating of “Buy” and a consensus price target of $26.55.

Shares of PSTG opened at $17.53 on Tuesday. The company has a quick ratio of 3.91, a current ratio of 4.03 and a debt-to-equity ratio of 0.68. Pure Storage Inc has a 12 month low of $15.81 and a 12 month high of $29.14.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Tuesday, August 21st. The technology company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.07. Pure Storage had a negative return on equity of 30.30% and a negative net margin of 15.07%. The business had revenue of $308.90 million during the quarter, compared to analyst estimates of $301.32 million. During the same period in the prior year, the company earned ($0.11) earnings per share. Pure Storage’s revenue was up 37.5% compared to the same quarter last year. On average, equities analysts expect that Pure Storage Inc will post -0.66 EPS for the current fiscal year.

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Pure Storage Company Profile

Pure Storage, Inc engages in building a data platform that enables businesses to enhance performance and reduce complexity and costs worldwide. The company delivers its data platform through Purity Operating Environment, an optimized software for solid-state memory that offers enterprise-class storage and protocol services; FlashArray and FlashBlade optimized hardware products for solid-state memory to enhance the performance and density of flash, optimize its advanced software services, and reduce solution cost for customers; Pure1, a cloud-based management and support software; and FlashStack, a converged infrastructure solution.

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Institutional Ownership by Quarter for Pure Storage (NYSE:PSTG)

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