Bleakley Financial Group LLC Has $281,000 Position in Pure Storage, Inc. (NYSE:PSTG)

Bleakley Financial Group LLC lifted its stake in Pure Storage, Inc. (NYSE:PSTG) by 10.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,588 shares of the technology company’s stock after purchasing an additional 530 shares during the period. Bleakley Financial Group LLC’s holdings in Pure Storage were worth $281,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PSTG. Bank of New York Mellon Corp increased its holdings in shares of Pure Storage by 56.1% in the second quarter. Bank of New York Mellon Corp now owns 3,696,390 shares of the technology company’s stock valued at $237,345,000 after purchasing an additional 1,327,873 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Pure Storage by 1.6% in the first quarter. Vanguard Group Inc. now owns 31,789,480 shares of the technology company’s stock valued at $1,652,735,000 after purchasing an additional 495,183 shares in the last quarter. Retirement Systems of Alabama acquired a new stake in shares of Pure Storage in the first quarter valued at approximately $22,399,000. American International Group Inc. increased its holdings in shares of Pure Storage by 9,131.0% in the first quarter. American International Group Inc. now owns 394,996 shares of the technology company’s stock valued at $20,536,000 after purchasing an additional 390,717 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Pure Storage by 52.0% in the second quarter. AQR Capital Management LLC now owns 917,804 shares of the technology company’s stock valued at $58,932,000 after purchasing an additional 314,164 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

PSTG has been the topic of a number of recent research reports. Stifel Nicolaus reduced their price objective on shares of Pure Storage from $65.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, August 29th. UBS Group reduced their price objective on shares of Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th. Piper Sandler reduced their price objective on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Wedbush reaffirmed an “outperform” rating and issued a $80.00 price objective on shares of Pure Storage in a research note on Monday, August 26th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $80.00 price objective on shares of Pure Storage in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Pure Storage has a consensus rating of “Moderate Buy” and an average price target of $68.05.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.67, for a total value of $450,709.65. Following the sale, the executive now directly owns 94,446 shares in the company, valued at approximately $4,785,578.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $52.39, for a total transaction of $5,239,000.00. Following the transaction, the insider now directly owns 800,000 shares in the company, valued at $41,912,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.67, for a total transaction of $450,709.65. Following the transaction, the executive now owns 94,446 shares in the company, valued at $4,785,578.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 554,542 shares of company stock worth $30,014,030. Insiders own 6.00% of the company’s stock.

Pure Storage Trading Down 1.2 %

Shares of NYSE:PSTG opened at $52.38 on Thursday. Pure Storage, Inc. has a 12 month low of $31.00 and a 12 month high of $70.41. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. The company’s fifty day simple moving average is $52.86 and its 200 day simple moving average is $56.95. The firm has a market cap of $17.16 billion, a price-to-earnings ratio of 130.95, a PEG ratio of 8.95 and a beta of 1.11.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.10. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. The firm had revenue of $763.77 million for the quarter, compared to analyst estimates of $756.59 million. As a group, research analysts forecast that Pure Storage, Inc. will post 0.43 EPS for the current fiscal 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.