8,610 Shares in Pure Storage, Inc. (NYSE:PSTG) Acquired by Oak Thistle LLC

Oak Thistle LLC acquired a new stake in Pure Storage, Inc. (NYSE:PSTG) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 8,610 shares of the technology company’s stock, valued at approximately $448,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Pure Storage in the fourth quarter valued at approximately $115,452,000. Polar Capital Holdings Plc grew its position in shares of Pure Storage by 33.8% in the 3rd quarter. Polar Capital Holdings Plc now owns 4,068,672 shares of the technology company’s stock valued at $144,926,000 after buying an additional 1,028,104 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in Pure Storage by 835.2% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,078,454 shares of the technology company’s stock worth $38,458,000 after acquiring an additional 963,140 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Pure Storage by 83.9% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,068,255 shares of the technology company’s stock worth $73,754,000 after acquiring an additional 943,850 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its position in Pure Storage by 83.9% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 2,068,255 shares of the technology company’s stock valued at $73,733,000 after acquiring an additional 943,850 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Pure Storage

In other Pure Storage news, Director Mallun Yen sold 4,818 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $64.78, for a total transaction of $312,110.04. Following the transaction, the director now directly owns 35,498 shares in the company, valued at $2,299,560.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Pure Storage news, Director Mallun Yen sold 4,818 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $64.78, for a total transaction of $312,110.04. Following the sale, the director now directly owns 35,498 shares in the company, valued at $2,299,560.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Roxanne Taylor sold 36,860 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $53.76, for a total value of $1,981,593.60. Following the completion of the transaction, the director now owns 18,883 shares of the company’s stock, valued at approximately $1,015,150.08. The disclosure for this sale can be found here. Insiders sold 291,399 shares of company stock worth $15,578,814 over the last 90 days. Company insiders own 6.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Pure Storage from $50.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Evercore ISI lifted their price target on Pure Storage from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, May 30th. Bank of America boosted their price objective on Pure Storage from $57.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 target price on shares of Pure Storage in a report on Friday, June 21st. Finally, TD Cowen upped their price target on shares of Pure Storage from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $69.11.

Pure Storage Stock Up 2.0 %

PSTG opened at $65.49 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.96. Pure Storage, Inc. has a 12 month low of $31.00 and a 12 month high of $70.41. The stock has a market capitalization of $21.30 billion, a P/E ratio of 233.89, a P/E/G ratio of 6.47 and a beta of 1.11. The business has a 50 day simple moving average of $59.70 and a 200-day simple moving average of $50.00.

Pure Storage (NYSE:PSTG) last released its earnings results on Wednesday, May 29th. The technology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The company had revenue of $693.48 million during the quarter, compared to the consensus estimate of $681.37 million. Pure Storage had a return on equity of 15.34% and a net margin of 3.19%. On average, equities analysts anticipate that Pure Storage, Inc. will post 0.47 earnings per share for the current fiscal year.

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.