Pure Storage, Inc. $PSTG Position Increased by Aberdeen Group plc

Aberdeen Group plc lifted its holdings in Pure Storage, Inc. (NYSE:PSTG) by 4.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 254,619 shares of the technology company’s stock after buying an additional 11,316 shares during the quarter. Aberdeen Group plc owned approximately 0.08% of Pure Storage worth $21,110,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of PSTG. Winnow Wealth LLC acquired a new stake in Pure Storage during the third quarter worth about $26,000. Assetmark Inc. boosted its stake in Pure Storage by 186.6% in the third quarter. Assetmark Inc. now owns 341 shares of the technology company’s stock valued at $29,000 after acquiring an additional 222 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of Pure Storage by 40.1% during the third quarter. Smartleaf Asset Management LLC now owns 468 shares of the technology company’s stock valued at $39,000 after purchasing an additional 134 shares during the last quarter. CoreCap Advisors LLC raised its position in shares of Pure Storage by 123.7% during the 3rd quarter. CoreCap Advisors LLC now owns 510 shares of the technology company’s stock worth $43,000 after purchasing an additional 282 shares during the period. Finally, Quent Capital LLC acquired a new stake in shares of Pure Storage during the 3rd quarter worth approximately $43,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Pure Storage Stock Performance

PSTG stock opened at $72.67 on Wednesday. The firm has a 50 day simple moving average of $70.40 and a 200 day simple moving average of $77.05. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $100.59. The stock has a market cap of $23.99 billion, a P/E ratio of 191.24, a P/E/G ratio of 5.76 and a beta of 1.27.

Pure Storage (NYSE:PSTG) last released its earnings results on Tuesday, December 2nd. The technology company reported $0.58 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.58. The company had revenue of $964.45 million during the quarter, compared to the consensus estimate of $955.60 million. Pure Storage had a net margin of 3.74% and a return on equity of 10.60%. The company’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.50 EPS. Sell-side analysts predict that Pure Storage, Inc. will post 0.44 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PSTG shares. Barclays boosted their price target on shares of Pure Storage from $70.00 to $77.00 and gave the company an “equal weight” rating in a report on Wednesday, December 3rd. Citigroup cut their target price on Pure Storage from $105.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday. Northland Securities set a $77.00 target price on Pure Storage in a report on Wednesday, December 3rd. Susquehanna set a $105.00 price target on shares of Pure Storage in a research report on Wednesday, December 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Pure Storage in a research note on Wednesday, December 3rd. Twelve analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $94.47.

Insider Buying and Selling at Pure Storage

In other news, insider Ajay Singh sold 7,178 shares of Pure Storage stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total transaction of $481,930.92. Following the completion of the sale, the insider directly owned 215,091 shares in the company, valued at $14,441,209.74. The trade was a 3.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were 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. 5.60% of the stock is currently owned by company insiders.

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.