Pure Storage (PSTG) Stake Raised by Alliancebernstein L.P.

Alliancebernstein L.P. lifted its holdings in Pure Storage (NYSE:PSTG) by 9.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 141,500 shares of the technology company’s stock after buying an additional 12,400 shares during the quarter. Alliancebernstein L.P. owned approximately 0.07% of Pure Storage worth $2,244,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. American International Group Inc. raised its holdings in shares of Pure Storage by 4.8% in the fourth quarter. American International Group Inc. now owns 65,393 shares of the technology company’s stock worth $1,037,000 after buying an additional 2,982 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Pure Storage by 4.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 77,291 shares of the technology company’s stock worth $1,226,000 after buying an additional 3,498 shares during the period. Gradient Investments LLC raised its holdings in shares of Pure Storage by 22.6% in the fourth quarter. Gradient Investments LLC now owns 27,194 shares of the technology company’s stock worth $431,000 after buying an additional 5,019 shares during the period. Swiss National Bank raised its holdings in shares of Pure Storage by 5.1% in the fourth quarter. Swiss National Bank now owns 138,900 shares of the technology company’s stock worth $2,203,000 after buying an additional 6,700 shares during the period. Finally, Great West Life Assurance Co. Can raised its holdings in shares of Pure Storage by 151.3% in the third quarter. Great West Life Assurance Co. Can now owns 11,310 shares of the technology company’s stock worth $180,000 after buying an additional 6,810 shares during the period. Hedge funds and other institutional investors own 45.48% of the company’s stock.

How to Become a New Pot Stock Millionaire

Shares of NYSE PSTG opened at $18.48 on Monday. Pure Storage has a 12-month low of $9.81 and a 12-month high of $22.60.

Pure Storage (NYSE:PSTG) last announced its earnings results on Thursday, March 1st. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.06. The business had revenue of $338.30 million for the quarter, compared to analysts’ expectations of $331.80 million. Pure Storage had a negative return on equity of 37.84% and a negative net margin of 17.36%. The business’s revenue for the quarter was up 48.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.02) EPS. research analysts predict that Pure Storage will post -0.79 earnings per share for the current year.

Several equities research analysts have recently weighed in on the company. BMO Capital Markets reiterated a “buy” rating and issued a $22.00 price target on shares of Pure Storage in a report on Thursday, March 1st. BTIG Research increased their price target on Pure Storage to $25.00 and gave the stock a “buy” rating in a report on Friday, March 2nd. Maxim Group reissued a “hold” rating and issued a $21.00 price objective (up previously from $20.00) on shares of Pure Storage in a research note on Friday, March 2nd. Susquehanna Bancshares reissued a “neutral” rating and issued a $25.00 price objective (up previously from $15.00) on shares of Pure Storage in a research note on Friday, March 2nd. Finally, Wells Fargo increased their price objective on Pure Storage from $23.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $21.60.

In other Pure Storage news, President David Hatfield sold 94,183 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $17.73, for a total transaction of $1,669,864.59. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder James N. White sold 95,123 shares of the stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $16.62, for a total value of $1,580,944.26. The disclosure for this sale can be found here. Insiders have sold a total of 873,123 shares of company stock worth $16,802,913 in the last ninety days. Insiders own 46.58% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Pure Storage (PSTG) Stake Raised by Alliancebernstein L.P.” was published by Ticker Report and is owned by of Ticker Report. If you are reading this story on another site, it was illegally copied and republished in violation of U.S. & international trademark and copyright legislation. The correct version of this story can be viewed at https://www.tickerreport.com/banking-finance/3342468/pure-storage-pstg-stake-raised-by-alliancebernstein-l-p.html.

About Pure Storage

Pure Storage, Inc engages in building a data platform that enables businesses to enhance performance and reduce complexity and costs worldwide. The company delivers its data platform through Purity Operating Environment, an optimized software for solid-state memory that offers enterprise-class storage and protocol services; FlashArray and FlashBlade optimized hardware products for solid-state memory to enhance the performance and density of flash, optimize its advanced software services, and reduce solution cost for customers; Pure1, a cloud-based management and support software; and FlashStack, a converged infrastructure solution.

Want to see what other hedge funds are holding PSTG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pure Storage (NYSE:PSTG).

Institutional Ownership by Quarter for Pure Storage (NYSE:PSTG)

Receive News & Ratings for Pure Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pure Storage and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

UBS  Given Average Recommendation of “Hold” by Analysts
UBS Given Average Recommendation of “Hold” by Analysts
MindCoin Market Cap Hits $62,382.00
MindCoin Market Cap Hits $62,382.00
Brightcove  Updates FY18 Earnings Guidance
Brightcove Updates FY18 Earnings Guidance
Middlefield Can Global  Announces Monthly Dividend of $0.05
Middlefield Can Global Announces Monthly Dividend of $0.05
Barings Participation  Announces $0.27 Quarterly Dividend
Barings Participation Announces $0.27 Quarterly Dividend
Spok Holdings, Inc.  Plans Quarterly Dividend of $0.13
Spok Holdings, Inc. Plans Quarterly Dividend of $0.13


© 2006-2018 Ticker Report. Google+.