Chartwell Investment Partners LLC Makes New Investment in Pure Storage, Inc. (NYSE:PSTG)

Chartwell Investment Partners LLC acquired a new position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,376 shares of the technology company's stock, valued at approximately $722,000.

A number of other hedge funds have also modified their holdings of PSTG. Bank of New York Mellon Corp boosted its stake in shares of Pure Storage by 56.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,696,390 shares of the technology company's stock worth $237,345,000 after buying an additional 1,327,873 shares during the last quarter. Vanguard Group Inc. boosted its position in Pure Storage by 1.6% during the first quarter. Vanguard Group Inc. now owns 31,789,480 shares of the technology company's stock valued at $1,652,735,000 after purchasing an additional 495,183 shares during the last quarter. American International Group Inc. grew its stake in Pure Storage by 9,131.0% in the first quarter. American International Group Inc. now owns 394,996 shares of the technology company's stock valued at $20,536,000 after purchasing an additional 390,717 shares in the last quarter. AQR Capital Management LLC grew its stake in Pure Storage by 52.0% in the second quarter. AQR Capital Management LLC now owns 917,804 shares of the technology company's stock valued at $58,932,000 after purchasing an additional 314,164 shares in the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in shares of Pure Storage during the 2nd quarter worth approximately $19,278,000. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Price Performance

Shares of PSTG traded down $0.28 during trading hours on Wednesday, hitting $49.87. 9,649,489 shares of the company were exchanged, compared to its average volume of 3,691,199. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $70.41. The company has a market cap of $16.34 billion, a price-to-earnings ratio of 131.43, a P/E/G ratio of 7.86 and a beta of 1.10. The firm's fifty day moving average is $51.26 and its 200 day moving average is $57.00.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.10 by $0.10. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. The company had revenue of $763.77 million during the quarter, compared to analysts' expectations of $756.59 million. On average, equities analysts anticipate that Pure Storage, Inc. will post 0.43 earnings per share for the current fiscal year.

Insider Transactions at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $57.32, for a total value of $5,732,000.00. Following the completion of the transaction, the insider now owns 300,000 shares of the company's stock, valued at approximately $17,196,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Mona Chu sold 20,647 shares of the business's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $51.50, for a total transaction of $1,063,320.50. Following the sale, the chief accounting officer now directly owns 75,992 shares in the company, valued at approximately $3,913,588. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Colgrove sold 100,000 shares of the company's stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $57.32, for a total value of $5,732,000.00. Following the completion of the transaction, the insider now directly owns 300,000 shares of the company's stock, valued at $17,196,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 454,542 shares of company stock valued at $24,775,030. Corporate insiders own 6.00% of the company's stock.

Analyst Upgrades and Downgrades

PSTG has been the topic of a number of recent analyst reports. Susquehanna restated a "positive" rating and set a $80.00 target price on shares of Pure Storage in a report on Monday, August 26th. Lake Street Capital lowered their price objective on shares of Pure Storage from $70.00 to $68.00 and set a "buy" rating on the stock in a research note on Thursday, August 29th. Raymond James cut their target price on shares of Pure Storage from $73.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday, August 29th. Wedbush reissued an "outperform" rating and set a $80.00 price target on shares of Pure Storage in a research report on Monday, August 26th. Finally, Oppenheimer started coverage on Pure Storage in a research report on Wednesday. They issued an "outperform" rating and a $70.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.15.

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.