Boston Partners Decreases Stake in Pure Storage, Inc. (NYSE:PSTG)

Boston Partners lessened its holdings in Pure Storage, Inc. (NYSE:PSTGFree Report) by 39.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,368 shares of the technology company’s stock after selling 19,105 shares during the period. Boston Partners’ holdings in Pure Storage were worth $1,047,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PSTG. Commonwealth Equity Services LLC grew its stake in Pure Storage by 27.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 14,218 shares of the technology company’s stock valued at $506,000 after purchasing an additional 3,048 shares during the period. California Public Employees Retirement System raised its position in Pure Storage by 3.4% in the third quarter. California Public Employees Retirement System now owns 515,165 shares of the technology company’s stock worth $18,350,000 after acquiring an additional 16,710 shares during the period. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Pure Storage in the third quarter worth about $397,000. NBC Securities Inc. purchased a new position in Pure Storage in the third quarter valued at about $182,000. Finally, Los Angeles Capital Management LLC grew its position in shares of Pure Storage by 25.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 71,301 shares of the technology company’s stock valued at $2,540,000 after acquiring an additional 14,507 shares during the period. 83.42% of the stock is owned by institutional investors.

Pure Storage Stock Up 0.5 %

PSTG opened at $59.15 on Friday. The firm has a market capitalization of $19.22 billion, a P/E ratio of 347.96, a price-to-earnings-growth ratio of 7.68 and a beta of 1.15. Pure Storage, Inc. has a one year low of $24.00 and a one year high of $60.51. The company has a fifty day moving average price of $52.79 and a 200-day moving average price of $43.90. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.83 and a quick ratio of 1.80.

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

Insider Buying and Selling at Pure Storage

In other news, 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 transaction of $1,981,593.60. Following the sale, the director now owns 18,883 shares in the company, valued at approximately $1,015,150.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Ajay Singh sold 37,588 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $53.54, for a total transaction of $2,012,461.52. Following the transaction, the insider now owns 380,834 shares of the company’s stock, valued at approximately $20,389,852.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Roxanne Taylor sold 36,860 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 18,883 shares in the company, valued at $1,015,150.08. The disclosure for this sale can be found here. Insiders sold a total of 286,581 shares of company stock worth $15,266,704 over the last three months. 6.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Morgan Stanley lifted their price target on shares of Pure Storage from $43.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. UBS Group upped their price target on Pure Storage from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. StockNews.com upgraded Pure Storage from a “hold” rating to a “buy” rating in a research note on Friday. Stifel Nicolaus boosted their price objective on Pure Storage from $41.00 to $46.00 and gave the company a “hold” rating in a research note on Thursday, February 29th. Finally, Barclays increased their target price on shares of Pure Storage from $42.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.63.

Get Our Latest Stock Analysis on PSTG

About Pure Storage

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Pure Storage (NYSE:PSTG)

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