Pure Storage, Inc. (NYSE:PSTG) Shares Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC raised its stake in Pure Storage, Inc. (NYSE:PSTG) by 1,518.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 102,248 shares of the technology company’s stock after buying an additional 95,931 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Pure Storage were worth $5,316,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Pure Storage in the fourth quarter valued at $115,452,000. Qube Research & Technologies Ltd increased its stake in Pure Storage by 1,025.3% during the third quarter. Qube Research & Technologies Ltd now owns 1,269,927 shares of the technology company’s stock worth $45,235,000 after purchasing an additional 1,157,079 shares during the period. Polar Capital Holdings Plc lifted its position in shares of Pure Storage by 33.8% during the third quarter. Polar Capital Holdings Plc now owns 4,068,672 shares of the technology company’s stock worth $144,926,000 after purchasing an additional 1,028,104 shares in the last quarter. Frontier Capital Management Co. LLC lifted its position in shares of Pure Storage by 835.2% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,078,454 shares of the technology company’s stock worth $38,458,000 after purchasing an additional 963,140 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Pure Storage by 83.9% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,068,255 shares of the technology company’s stock valued at $73,754,000 after purchasing an additional 943,850 shares during the period. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mallun Yen sold 4,818 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $64.78, for a total value of $312,110.04. Following the completion of the sale, the director now directly owns 35,498 shares of the company’s stock, valued at $2,299,560.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CRO Dan Fitzsimons sold 29,283 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $52.14, for a total value of $1,526,815.62. Following the transaction, the executive now owns 138,105 shares in the company, valued at approximately $7,200,794.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mallun Yen sold 4,818 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $64.78, for a total value of $312,110.04. Following the sale, the director now directly owns 35,498 shares of the company’s stock, valued at $2,299,560.44. The disclosure for this sale can be found here. Insiders have sold a total of 291,399 shares of company stock valued at $15,578,814 over the last quarter. Company insiders own 6.00% of the company’s stock.

Pure Storage Stock Down 3.5 %

PSTG opened at $65.94 on Friday. Pure Storage, Inc. has a one year low of $31.00 and a one year high of $70.41. 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 stock has a market capitalization of $21.42 billion, a P/E ratio of 235.50, a price-to-earnings-growth ratio of 6.89 and a beta of 1.06. The business’s 50-day simple moving average is $58.30 and its 200-day simple moving average is $48.48.

Wall Street Analysts Forecast Growth

PSTG has been the topic of a number of research reports. Raymond James increased their target price on shares of Pure Storage from $63.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. increased their price objective on Pure Storage from $50.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Barclays boosted their target price on Pure Storage from $51.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. Bank of America increased their price target on Pure Storage from $57.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Finally, Lake Street Capital boosted their price objective on Pure Storage from $48.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.42.

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.