Pure Storage Inc (NYSE:PSTG) – Equities researchers at William Blair boosted their FY2018 earnings per share estimates for Pure Storage in a research note issued to investors on Wednesday. William Blair analyst J. Ader now anticipates that the technology company will post earnings per share of ($0.95) for the year, up from their previous estimate of ($1.00). William Blair currently has a “Ourperform” rating on the stock. William Blair also issued estimates for Pure Storage’s Q1 2019 earnings at ($0.28) EPS, Q2 2019 earnings at ($0.27) EPS, Q3 2019 earnings at ($0.19) EPS, Q4 2019 earnings at ($0.13) EPS, FY2020 earnings at ($0.62) EPS and FY2021 earnings at ($0.30) EPS.
Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Tuesday, November 28th. The technology company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.02. The firm had revenue of $277.70 million for the quarter, compared to the consensus estimate of $272.07 million. Pure Storage had a negative net margin of 22.86% and a negative return on equity of 44.86%. The business’s revenue was up 41.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.10) earnings per share.
Pure Storage (PSTG) traded down $0.06 during mid-day trading on Monday, hitting $16.98. 1,458,146 shares of the company’s stock traded hands, compared to its average volume of 1,771,460. Pure Storage has a 52-week low of $9.12 and a 52-week high of $19.27.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Pure Storage by 6.3% during the 2nd quarter. BlackRock Inc. now owns 14,513,166 shares of the technology company’s stock valued at $185,913,000 after buying an additional 863,990 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Pure Storage by 26.7% during the 2nd quarter. Vanguard Group Inc. now owns 7,059,059 shares of the technology company’s stock valued at $90,427,000 after buying an additional 1,489,008 shares in the last quarter. FMR LLC boosted its holdings in shares of Pure Storage by 10.9% during the 2nd quarter. FMR LLC now owns 6,359,676 shares of the technology company’s stock valued at $81,467,000 after buying an additional 622,600 shares in the last quarter. Okumus Fund Management Ltd. boosted its holdings in shares of Pure Storage by 4.1% during the 3rd quarter. Okumus Fund Management Ltd. now owns 5,299,197 shares of the technology company’s stock valued at $84,734,000 after buying an additional 206,943 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Pure Storage by 5.0% during the 2nd quarter. Franklin Resources Inc. now owns 3,097,439 shares of the technology company’s stock valued at $39,679,000 after buying an additional 146,411 shares in the last quarter. Hedge funds and other institutional investors own 38.46% of the company’s stock.
In other Pure Storage news, President David Hatfield sold 130,000 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $18.05, for a total transaction of $2,346,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy Riitters sold 5,000 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $14.56, for a total transaction of $72,800.00. Following the transaction, the chief financial officer now directly owns 282,200 shares in the company, valued at $4,108,832. The disclosure for this sale can be found here. Over the last three months, insiders have sold 317,028 shares of company stock worth $5,304,635. Insiders own 41.47% of the company’s stock.
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Pure Storage Company Profile
Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.
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