National Pension Service Has $28.04 Million Stake in Pure Storage, Inc. (NYSE:PSTG)

National Pension Service grew its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 8.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 558,159 shares of the technology company's stock after acquiring an additional 45,559 shares during the period. National Pension Service owned 0.17% of Pure Storage worth $28,042,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of PSTG. Bank of New York Mellon Corp raised its holdings in 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 purchasing an additional 1,327,873 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Pure Storage by 1.6% in 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 buying an additional 495,183 shares during the period. American International Group Inc. lifted its holdings 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 buying an additional 390,717 shares during the period. AQR Capital Management LLC grew its holdings in Pure Storage by 52.0% during the 2nd quarter. AQR Capital Management LLC now owns 917,804 shares of the technology company's stock worth $58,932,000 after acquiring an additional 314,164 shares during the period. Finally, Driehaus Capital Management LLC bought a new stake in shares of Pure Storage during the 2nd quarter valued at $19,278,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $49.94, for a total value of $4,994,000.00. Following the sale, the insider now owns 500,000 shares in the company, valued at approximately $24,970,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CRO Dan Fitzsimons sold 8,895 shares of the company's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $50.67, for a total value of $450,709.65. Following the transaction, the executive now owns 94,446 shares of the company's stock, valued at approximately $4,785,578.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $49.94, for a total value of $4,994,000.00. Following the sale, the insider now directly owns 500,000 shares of the company's stock, valued at approximately $24,970,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 454,542 shares of company stock worth $24,775,030. 6.00% of the stock is owned by company insiders.

Pure Storage Stock Down 1.9 %

Shares of Pure Storage stock traded down $1.03 during trading hours on Friday, reaching $52.90. 2,130,992 shares of the company's stock were exchanged, compared to its average volume of 3,661,412. The stock has a market cap of $17.33 billion, a P/E ratio of 132.30, a P/E/G ratio of 8.48 and a beta of 1.10. The company has a 50 day moving average of $51.08 and a two-hundred day moving average of $56.95. The company has a current ratio of 1.99, a quick ratio of 1.96 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.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PSTG shares. Evercore ISI lowered their price target on Pure Storage from $75.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday, August 29th. UBS Group lowered their target price on shares of Pure Storage from $47.00 to $45.00 and set a "sell" rating for the company in a research note on Thursday, August 29th. Guggenheim lifted their price target on shares of Pure Storage from $72.00 to $93.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. Piper Sandler decreased their price target on shares of Pure Storage from $60.00 to $56.00 and set a "neutral" rating for the company in a report on Thursday, August 29th. Finally, TD Cowen dropped their price objective on Pure Storage from $80.00 to $70.00 and set a "buy" rating on the stock in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $68.05.

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.