UBS Group AG increased its position in Pure Storage, Inc. (NYSE:PSTG) by 384.8% during the first quarter, Holdings Channel reports. The firm owned 226,823 shares of the technology company’s stock after buying an additional 180,034 shares during the period. UBS Group AG’s holdings in Pure Storage were worth $2,230,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in Pure Storage during the fourth quarter worth about $228,000. Wesbanco Bank Inc. acquired a new position in Pure Storage during the first quarter worth about $462,000. Norges Bank acquired a new position in Pure Storage during the fourth quarter worth about $1,697,000. Renaissance Technologies LLC acquired a new position in Pure Storage during the fourth quarter worth about $2,503,000. Finally, State Street Corp boosted its position in Pure Storage by 4.4% in the fourth quarter. State Street Corp now owns 1,129,901 shares of the technology company’s stock worth $12,779,000 after buying an additional 47,633 shares during the last quarter. Hedge funds and other institutional investors own 34.41% of the company’s stock.
Pure Storage, Inc. (PSTG) opened at 12.77 on Monday. Pure Storage, Inc. has a 52-week low of $9.12 and a 52-week high of $15.14. The stock has a 50 day moving average price of $12.41 and a 200 day moving average price of $11.39. The company’s market capitalization is $2.67 billion.
Pure Storage (NYSE:PSTG) last released its earnings results on Wednesday, May 24th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.08. The firm had revenue of $182.60 million during the quarter, compared to analyst estimates of $176.13 million. Pure Storage had a negative return on equity of 44.04% and a negative net margin of 31.62%. Pure Storage’s revenue was up 30.5% compared to the same quarter last year. During the same period last year, the business posted ($0.22) earnings per share. On average, equities analysts expect that Pure Storage, Inc. will post ($0.27) earnings per share for the current year.
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A number of research firms recently issued reports on PSTG. BidaskClub cut Pure Storage from a “buy” rating to a “hold” rating in a report on Saturday, June 10th. Robert W. Baird restated a “hold” rating on shares of Pure Storage in a report on Thursday, April 13th. Jefferies Group LLC boosted their price objective on Pure Storage from $10.00 to $11.50 and gave the company a “hold” rating in a report on Thursday, May 25th. BMO Capital Markets restated a “buy” rating on shares of Pure Storage in a report on Wednesday, June 14th. Finally, William Blair restated an “outperform” rating on shares of Pure Storage in a report on Thursday, April 6th. Ten investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $15.55.
In related news, Director Michelangelo Volpi sold 390,957 shares of Pure Storage stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $13.33, for a total value of $5,211,456.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Timothy Riitters sold 10,248 shares of Pure Storage stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $12.81, for a total value of $131,276.88. Following the completion of the transaction, the chief financial officer now owns 227,200 shares of the company’s stock, valued at $2,910,432. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,312,246 shares of company stock valued at $30,410,081. 46.58% of the stock is currently owned by company insiders.
About Pure Storage
Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.
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