Bryce Point Capital LLC Invests $593,000 in Pure Storage, Inc. $PSTG

Bryce Point Capital LLC bought a new position in Pure Storage, Inc. (NYSE:PSTG) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,076 shares of the technology company’s stock, valued at approximately $593,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Pure Storage by 0.9% during the second quarter. Vanguard Group Inc. now owns 33,268,006 shares of the technology company’s stock worth $1,915,572,000 after purchasing an additional 308,738 shares in the last quarter. Geode Capital Management LLC lifted its position in Pure Storage by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 7,273,696 shares of the technology company’s stock worth $417,830,000 after acquiring an additional 123,320 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in Pure Storage by 112.9% in the 2nd quarter. William Blair Investment Management LLC now owns 4,926,836 shares of the technology company’s stock worth $283,687,000 after acquiring an additional 2,612,300 shares during the period. Norges Bank acquired a new stake in Pure Storage in the second quarter valued at approximately $225,203,000. Finally, Atreides Management LP purchased a new stake in shares of Pure Storage during the second quarter valued at approximately $204,552,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Pure Storage

In related news, insider Ajay Singh sold 7,178 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total value of $481,930.92. Following the sale, the insider owned 215,091 shares of the company’s stock, valued at approximately $14,441,209.74. This trade represents a 3.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $71.31, for a total value of $7,131,000.00. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on PSTG. Morgan Stanley set a $83.00 price target on shares of Pure Storage in a report on Wednesday, December 3rd. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Pure Storage in a report on Wednesday, December 3rd. JPMorgan Chase & Co. lowered their price objective on Pure Storage from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday, December 3rd. Susquehanna set a $105.00 target price on Pure Storage in a research report on Wednesday, December 3rd. Finally, Barclays raised their price target on shares of Pure Storage from $70.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 3rd. Twelve research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Pure Storage presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.26.

Pure Storage Price Performance

Shares of PSTG opened at $74.46 on Tuesday. The stock has a market capitalization of $24.58 billion, a PE ratio of 195.95, a price-to-earnings-growth ratio of 5.52 and a beta of 1.27. The business’s fifty day moving average price is $70.54 and its 200 day moving average price is $76.41. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $100.59.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Tuesday, September 9th. The technology company reported $0.44 EPS for the quarter. The business had revenue of $763.77 million during the quarter. Pure Storage had a net margin of 3.74% and a return on equity of 10.60%. As a group, research analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Pure Storage Company Profile

Pure Storage, Inc (NYSE: PSTG) is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays that are engineered to deliver high performance, low latency and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics and large-scale file/object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.