Bailard Inc. Buys 8,293 Shares of Pure Storage, Inc. (NYSE:PSTG)

Bailard Inc. boosted its position in Pure Storage, Inc. (NYSE:PSTG) by 8.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 103,979 shares of the technology company’s stock after acquiring an additional 8,293 shares during the period. Bailard Inc.’s holdings in Pure Storage were worth $3,708,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. First Horizon Advisors Inc. boosted its holdings in Pure Storage by 53.3% in the third quarter. First Horizon Advisors Inc. now owns 1,380 shares of the technology company’s stock worth $49,000 after acquiring an additional 480 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Pure Storage by 6.8% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,313 shares of the technology company’s stock worth $296,000 after purchasing an additional 532 shares during the period. Bank Pictet & Cie Europe AG grew its position in shares of Pure Storage by 5.5% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 10,331 shares of the technology company’s stock valued at $368,000 after acquiring an additional 535 shares during the period. Mariner LLC increased its position in shares of Pure Storage by 2.9% in the third quarter. Mariner LLC now owns 19,548 shares of the technology company’s stock valued at $696,000 after buying an additional 553 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its position in shares of Pure Storage by 20.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 3,681 shares of the technology company’s stock worth $133,000 after purchasing an additional 630 shares during the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, CFO P. Kevan Krysler sold 15,286 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $52.80, for a total transaction of $807,100.80. Following the sale, the chief financial officer now owns 507,824 shares in the company, valued at approximately $26,813,107.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO P. Kevan Krysler sold 15,286 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $52.80, for a total value of $807,100.80. Following the completion of the transaction, the chief financial officer now owns 507,824 shares of the company’s stock, valued at $26,813,107.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CRO Dan Fitzsimons sold 29,283 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $52.14, for a total transaction of $1,526,815.62. Following the sale, the executive now owns 138,105 shares in the company, valued at approximately $7,200,794.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 286,581 shares of company stock valued at $15,266,704. Insiders own 6.50% of the company’s stock.

Pure Storage Stock Performance

Shares of PSTG traded up $1.62 during midday trading on Thursday, reaching $52.27. 1,904,457 shares of the stock were exchanged, compared to its average volume of 4,550,703. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.83 and a quick ratio of 1.80. The company has a market capitalization of $16.98 billion, a price-to-earnings ratio of 297.90, a PEG ratio of 6.73 and a beta of 1.15. The business’s 50-day moving average price is $50.49 and its 200 day moving average price is $41.56. Pure Storage, Inc. has a twelve month low of $22.14 and a twelve month high of $58.46.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.10. The business had revenue of $789.81 million for the quarter, compared to analyst estimates of $784.31 million. Pure Storage had a net margin of 2.17% and a return on equity of 12.60%. The business’s revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.27 earnings per share. On average, sell-side analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PSTG. UBS Group lifted their target price on shares of Pure Storage from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Evercore ISI lifted their price objective on Pure Storage from $41.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 target price on shares of Pure Storage in a research note on Thursday, April 11th. Citigroup began coverage on shares of Pure Storage in a research report on Friday, March 15th. They set a “buy” rating and a $65.00 price target on the stock. Finally, Barclays lifted their target price on shares of Pure Storage from $42.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.63.

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.