Deutsche Bank AG Acquires 1,916 Shares of Pure Storage, Inc. (NYSE:PSTG)

Deutsche Bank AG raised its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 0.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 607,469 shares of the technology company’s stock after acquiring an additional 1,916 shares during the period. Deutsche Bank AG owned approximately 0.19% of Pure Storage worth $26,893,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PSTG. Raiffeisen Bank International AG bought a new stake in shares of Pure Storage in the 4th quarter valued at $33,925,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Pure Storage in the 1st quarter valued at $24,462,000. Baird Financial Group Inc. increased its position in shares of Pure Storage by 9,041.4% in the 4th quarter. Baird Financial Group Inc. now owns 521,516 shares of the technology company’s stock valued at $32,037,000 after buying an additional 515,811 shares in the last quarter. Northern Trust Corp increased its position in shares of Pure Storage by 18.2% in the 4th quarter. Northern Trust Corp now owns 2,888,060 shares of the technology company’s stock valued at $177,414,000 after buying an additional 443,728 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new position in Pure Storage during the 4th quarter worth about $26,206,000. Institutional investors own 83.42% of the company’s stock.

Insider Activity at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 22,601 shares of the firm’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $55.45, for a total transaction of $1,253,225.45. Following the completion of the sale, the insider directly owned 261,465 shares in the company, valued at $14,498,234.25. This trade represents a 7.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John Francis Murphy sold 6,959 shares of the firm’s stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $56.17, for a total transaction of $390,887.03. Following the sale, the director owned 19,706 shares of the company’s stock, valued at $1,106,886.02. This trade represents a 26.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 446,794 shares of company stock valued at $26,641,913. 5.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PSTG. Evercore ISI increased their target price on Pure Storage from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, May 23rd. Piper Sandler reiterated an “overweight” rating and set a $66.00 target price (up previously from $53.00) on shares of Pure Storage in a report on Thursday, May 29th. Barclays lowered their target price on Pure Storage from $61.00 to $57.00 and set an “equal weight” rating for the company in a report on Thursday, May 29th. Wall Street Zen upgraded Pure Storage from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, JPMorgan Chase & Co. lowered their target price on Pure Storage from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.21.

Pure Storage Stock Performance

Shares of NYSE:PSTG opened at $59.57 on Thursday. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $73.67. The company has a market capitalization of $19.47 billion, a P/E ratio of 161.00, a price-to-earnings-growth ratio of 5.65 and a beta of 1.07. The company has a 50-day simple moving average of $56.07 and a 200 day simple moving average of $54.09.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings data on Wednesday, May 28th. The technology company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. The firm had revenue of $778.49 million during the quarter, compared to the consensus estimate of $770.03 million. Pure Storage had a net margin of 3.93% and a return on equity of 13.98%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the business posted $0.32 earnings per share. As a group, equities analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

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.