Ameriprise Financial Inc. increased its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 32.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,350 shares of the technology company’s stock after buying an additional 6,500 shares during the period. Ameriprise Financial Inc.’s holdings in Pure Storage were worth $259,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Wells Fargo & Company MN increased its position in Pure Storage by 0.3% in the first quarter. Wells Fargo & Company MN now owns 57,389 shares of the technology company’s stock worth $564,000 after buying an additional 150 shares during the last quarter. Fox Run Management L.L.C. boosted its stake in Pure Storage by 8.2% in the first quarter. Fox Run Management L.L.C. now owns 21,000 shares of the technology company’s stock worth $206,000 after buying an additional 1,600 shares during the last quarter. Thompson Investment Management Inc. boosted its stake in Pure Storage by 40.5% in the first quarter. Thompson Investment Management Inc. now owns 19,875 shares of the technology company’s stock worth $195,000 after buying an additional 5,725 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in Pure Storage by 52.3% in the first quarter. UBS Asset Management Americas Inc. now owns 26,500 shares of the technology company’s stock worth $260,000 after buying an additional 9,100 shares during the last quarter. Finally, First Trust Advisors LP purchased a new stake in Pure Storage during the first quarter worth approximately $135,000. 34.86% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Pure Storage, Inc. (NYSE PSTG) traded up 0.08% during mid-day trading on Friday, hitting $12.49. The company’s stock had a trading volume of 982,257 shares. The company’s market cap is $2.61 billion. The stock has a 50-day moving average of $12.89 and a 200-day moving average of $11.68. Pure Storage, Inc. has a 12-month low of $9.12 and a 12-month high of $15.14.
Pure Storage (NYSE:PSTG) last posted its earnings results on Wednesday, May 24th. The technology company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.08. Pure Storage had a negative return on equity of 44.04% and a negative net margin of 31.62%. The firm had revenue of $182.60 million for the quarter, compared to analysts’ expectations of $176.13 million. During the same period last year, the firm earned ($0.22) EPS. The firm’s revenue was up 30.5% compared to the same quarter last year. On average, equities research analysts forecast that Pure Storage, Inc. will post ($0.27) EPS for the current year.
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A number of equities research analysts have commented on PSTG shares. Morgan Stanley cut shares of Pure Storage from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $17.00 to $12.00 in a research note on Thursday, May 18th. Jefferies Group LLC raised their target price on shares of Pure Storage from $10.00 to $11.50 and gave the company a “hold” rating in a report on Thursday, May 25th. Maxim Group reissued a “buy” rating and issued a $20.00 target price on shares of Pure Storage in a report on Thursday, May 25th. BMO Capital Markets lifted their price objective on shares of Pure Storage from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. Finally, Robert W. Baird reissued a “hold” rating on shares of Pure Storage in a research note on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $15.39.
In other news, Director Michelangelo Volpi sold 35,673 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $13.03, for a total transaction of $464,819.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Timothy Riitters sold 5,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $13.12, for a total value of $65,600.00. Following the sale, the chief financial officer now directly owns 245,703 shares of the company’s stock, valued at $3,223,623.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,312,246 shares of company stock valued at $30,410,081. 46.58% of the stock is currently owned by corporate insiders.
Pure Storage Company Profile
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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