Pure Storage, Inc. (NYSE:PSTG) Shares Acquired by Bailard Inc.

Bailard Inc. increased its stake in Pure Storage, Inc. (NYSE:PSTG) by 8.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,979 shares of the technology company’s stock after acquiring an additional 8,293 shares during the period. Bailard Inc.’s holdings in Pure Storage were worth $3,708,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PSTG. Naples Money Management LLC purchased a new position in Pure Storage in the fourth quarter valued at $25,000. Global Retirement Partners LLC purchased a new position in Pure Storage in the third quarter valued at $28,000. Allspring Global Investments Holdings LLC purchased a new position in Pure Storage in the fourth quarter valued at $45,000. First Horizon Advisors Inc. grew its holdings in shares of Pure Storage by 53.3% during the third quarter. First Horizon Advisors Inc. now owns 1,380 shares of the technology company’s stock worth $49,000 after purchasing an additional 480 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Pure Storage during the fourth quarter worth about $64,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CRO Dan Fitzsimons sold 29,283 shares of the business’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 transaction of $1,526,815.62. Following the completion of the sale, the executive now directly owns 138,105 shares of the company’s stock, valued at $7,200,794.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CRO Dan Fitzsimons sold 29,283 shares of the business’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 transaction of $1,526,815.62. Following the completion of the sale, the executive now directly owns 138,105 shares of the company’s stock, valued at $7,200,794.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Scott Dietzen sold 147,000 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $53.49, for a total transaction of $7,863,030.00. Following the sale, the director now directly owns 100,000 shares of the company’s stock, valued at $5,349,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 286,581 shares of company stock valued at $15,266,704. Insiders own 6.50% of the company’s stock.

Pure Storage Stock Performance

NYSE PSTG traded up $1.62 during midday trading on Thursday, hitting $52.27. The company had a trading volume of 1,904,457 shares, compared to its average volume of 4,550,703. The company has a quick ratio of 1.80, a current ratio of 1.83 and a debt-to-equity ratio of 0.08. The stock has a market cap of $16.98 billion, a price-to-earnings ratio of 297.90, a P/E/G ratio of 6.73 and a beta of 1.15. The firm has a fifty day simple moving average of $50.49 and a two-hundred day simple moving average of $41.56. Pure Storage, Inc. has a fifty-two week low of $22.14 and a fifty-two week high of $58.46.

Pure Storage (NYSE:PSTG) last issued its earnings results on Wednesday, February 28th. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.10. The business had revenue of $789.81 million for the quarter, compared to analyst estimates of $784.31 million. Pure Storage had a net margin of 2.17% and a return on equity of 12.60%. The firm’s revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.27 EPS. Equities analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PSTG shares. UBS Group lifted their price target on shares of Pure Storage from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Stifel Nicolaus lifted their price target on shares of Pure Storage from $41.00 to $46.00 and gave the company a “hold” rating in a research report on Thursday, February 29th. Evercore ISI lifted their price target on shares of Pure Storage from $41.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Raymond James downgraded Pure Storage from a “strong-buy” rating to an “outperform” rating and lifted their price objective for the stock from $52.00 to $63.00 in a research report on Friday, April 19th. Finally, TD Cowen lifted their price objective on Pure Storage from $42.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.63.

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.