Quantbot Technologies LP Purchases Shares of 67,299 Pure Storage, Inc. (NYSE:PSTG)

Quantbot Technologies LP purchased a new position in shares of Pure Storage, Inc. (NYSE:PSTG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 67,299 shares of the technology company’s stock, valued at approximately $3,381,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC lifted its holdings in Pure Storage by 0.8% during the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock worth $2,469,487,000 after buying an additional 368,643 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Pure Storage by 22.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock worth $204,163,000 after purchasing an additional 747,034 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Pure Storage by 56.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,696,390 shares of the technology company’s stock worth $237,345,000 after purchasing an additional 1,327,873 shares during the period. Blair William & Co. IL boosted its stake in shares of Pure Storage by 0.7% in the 2nd quarter. Blair William & Co. IL now owns 2,357,962 shares of the technology company’s stock valued at $151,405,000 after purchasing an additional 15,747 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Pure Storage by 12.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,234,382 shares of the technology company’s stock worth $143,470,000 after buying an additional 249,761 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PSTG shares. Northland Securities reaffirmed a “market perform” rating and set a $59.00 price target (down previously from $68.00) on shares of Pure Storage in a research report on Thursday, August 29th. Piper Sandler decreased their target price on Pure Storage from $60.00 to $56.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. TD Cowen dropped their price target on Pure Storage from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Needham & Company LLC reduced their price objective on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Finally, Wedbush reiterated an “outperform” rating and set a $80.00 target price on shares of Pure Storage in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $67.95.

Pure Storage Trading Down 3.1 %

Shares of PSTG stock opened at $52.93 on Thursday. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. The firm has a market cap of $17.34 billion, a P/E ratio of 132.33, a PEG ratio of 7.30 and a beta of 1.10. The company has a 50 day moving average of $51.95 and a 200-day moving average of $56.86. Pure Storage, Inc. has a 12-month low of $31.00 and a 12-month high of $70.41.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.10. The business had revenue of $763.77 million during the quarter, compared to analyst estimates of $756.59 million. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. Sell-side analysts anticipate that Pure Storage, Inc. will post 0.42 earnings per share for the current year.

Insider Activity

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the sale, the insider now owns 500,000 shares in the company, valued at $24,970,000. This represents a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Mona Chu sold 20,647 shares of Pure Storage stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $51.50, for a total value of $1,063,320.50. Following the transaction, the chief accounting officer now directly owns 75,992 shares of the company’s stock, valued at $3,913,588. The trade was a 21.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 354,542 shares of company stock valued at $18,599,030 in the last 90 days. Insiders own 6.00% of the company’s stock.

Pure Storage 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.