Pure Storage, Inc. (NYSE:PSTG) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 6.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,461,500 shares of the technology company’s stock after purchasing an additional 85,851 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.45% of Pure Storage worth $64,701,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. McIlrath & Eck LLC purchased a new position in Pure Storage during the 4th quarter valued at about $25,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Pure Storage by 55.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company’s stock valued at $29,000 after acquiring an additional 233 shares during the period. FNY Investment Advisers LLC boosted its holdings in Pure Storage by 5,233.3% during the 1st quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company’s stock valued at $35,000 after acquiring an additional 785 shares during the period. TruNorth Capital Management LLC purchased a new position in Pure Storage during the 1st quarter valued at about $38,000. Finally, Nisa Investment Advisors LLC boosted its holdings in Pure Storage by 35.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company’s stock valued at $40,000 after acquiring an additional 239 shares during the period. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Pure Storage Stock Down 2.7%

PSTG stock opened at $57.97 on Friday. The business has a 50 day moving average price of $56.14 and a 200 day moving average price of $54.03. The stock has a market cap of $18.95 billion, a price-to-earnings ratio of 156.67, a PEG ratio of 5.66 and a beta of 1.07. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $73.67.

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

Insider Transactions at Pure Storage

In other Pure Storage news, Director John Francis Murphy sold 6,959 shares of the business’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 value of $390,887.03. Following the completion of the sale, the director owned 19,706 shares in the company, valued at approximately $1,106,886.02. The trade was a 26.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Colgrove sold 198,749 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $60.32, for a total value of $11,988,539.68. Following the completion of the sale, the insider owned 500,000 shares of the company’s stock, valued at approximately $30,160,000. This represents a 28.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 446,794 shares of company stock worth $26,641,913 in the last three months. Corporate insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on PSTG shares. Needham & Company LLC restated a “buy” rating and set a $75.00 target price on shares of Pure Storage in a report on Friday, June 20th. Citigroup lifted their price objective on Pure Storage from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Monday. Wall Street Zen upgraded Pure Storage from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. decreased their price objective on Pure Storage from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, May 29th. Finally, Wedbush reiterated an “outperform” rating and issued a $70.00 price objective on shares of Pure Storage in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $70.21.

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.