Gulf International Bank UK Ltd Acquires Shares of 30,161 Pure Storage, Inc. (NYSE:PSTG)

Gulf International Bank UK Ltd bought a new position in shares of Pure Storage, Inc. (NYSE:PSTG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 30,161 shares of the technology company’s stock, valued at approximately $1,936,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PSTG. Fifth Third Bancorp increased its holdings in Pure Storage by 48.5% in the 4th quarter. Fifth Third Bancorp now owns 2,227 shares of the technology company’s stock worth $79,000 after acquiring an additional 727 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Pure Storage by 20.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 3,681 shares of the technology company’s stock worth $133,000 after purchasing an additional 630 shares during the period. International Assets Investment Management LLC increased its stake in shares of Pure Storage by 1,937.8% in the fourth quarter. International Assets Investment Management LLC now owns 4,422 shares of the technology company’s stock worth $158,000 after buying an additional 4,205 shares during the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in shares of Pure Storage in the fourth quarter valued at approximately $244,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Pure Storage during the fourth quarter valued at $45,000. Institutional investors own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PSTG. UBS Group downgraded Pure Storage from a “neutral” rating to a “sell” rating and raised their price objective for the stock from $44.00 to $47.00 in a research note on Tuesday, July 2nd. Stifel Nicolaus upped their price target on shares of Pure Storage from $46.00 to $65.00 and gave the stock a “hold” rating in a research note on Thursday, May 30th. Morgan Stanley cut shares of Pure Storage from an “overweight” rating to an “equal weight” rating and set a $60.00 target price for the company. in a report on Wednesday, June 12th. Wedbush reiterated an “outperform” rating and set a $70.00 price target (up previously from $50.00) on shares of Pure Storage in a report on Tuesday, May 28th. Finally, KeyCorp boosted their price objective on shares of Pure Storage from $64.00 to $79.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $69.11.

Pure Storage Trading Up 3.0 %

Pure Storage stock traded up $1.60 during trading on Thursday, reaching $54.35. The company had a trading volume of 858,420 shares, compared to its average volume of 3,994,969. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 2.00. The firm has a market capitalization of $17.68 billion, a price-to-earnings ratio of 188.39, a PEG ratio of 5.47 and a beta of 1.11. Pure Storage, Inc. has a 12-month low of $31.00 and a 12-month high of $70.41. The stock’s 50 day moving average price is $62.50 and its two-hundred day moving average price is $54.63.

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

Insiders Place Their Bets

In related news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $59.50, for a total transaction of $5,950,000.00. Following the completion of the sale, the insider now directly owns 900,000 shares of the company’s stock, valued at approximately $53,550,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Pure Storage news, Director Mallun Yen sold 4,818 shares of Pure Storage stock in a transaction that occurred 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 approximately $2,299,560.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $59.50, for a total transaction of $5,950,000.00. Following the sale, the insider now directly owns 900,000 shares of the company’s stock, valued at approximately $53,550,000. The disclosure for this sale can be found here. Insiders sold a total of 228,995 shares of company stock worth $12,999,193 over the last ninety days. 6.00% of the stock is owned by company insiders.

Pure Storage Company 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.