Forsta AP Fonden Acquires 9,400 Shares of Pure Storage, Inc. (NYSE:PSTG)

Forsta AP Fonden raised its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 16.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,500 shares of the technology company's stock after buying an additional 9,400 shares during the quarter. Forsta AP Fonden's holdings in Pure Storage were worth $3,391,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Sycomore Asset Management bought a new position in Pure Storage in the second quarter valued at about $2,259,000. State of Alaska Department of Revenue bought a new stake in shares of Pure Storage during the 1st quarter valued at approximately $1,675,000. Texas Permanent School Fund Corp acquired a new position in Pure Storage during the 1st quarter worth approximately $13,514,000. Heritage Wealth Management Inc. bought a new position in Pure Storage in the 2nd quarter valued at approximately $721,000. Finally, Cetera Investment Advisers boosted its position in Pure Storage by 284.9% in the first quarter. Cetera Investment Advisers now owns 55,801 shares of the technology company's stock valued at $2,901,000 after buying an additional 41,305 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Pure Storage

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 transaction of $450,709.65. Following the transaction, the executive now directly owns 94,446 shares of the company's stock, valued at $4,785,578.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CRO Dan Fitzsimons sold 8,895 shares of the business's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.67, for a total transaction of $450,709.65. Following the completion of the sale, the executive now directly owns 94,446 shares of the company's stock, valued at $4,785,578.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Colgrove sold 100,000 shares of the firm's stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $61.76, for a total transaction of $6,176,000.00. Following the completion of the transaction, the insider now directly owns 700,000 shares in the company, valued at approximately $43,232,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 554,542 shares of company stock valued at $30,014,030. Company insiders own 6.00% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wedbush restated an "outperform" rating and set a $80.00 price objective on shares of Pure Storage in a research report on Monday, August 26th. Susquehanna reiterated a "positive" rating and issued a $80.00 price objective on shares of Pure Storage in a report on Monday, August 26th. Guggenheim boosted their target price on shares of Pure Storage from $72.00 to $93.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Stifel Nicolaus decreased their price target on shares of Pure Storage from $65.00 to $60.00 and set a "hold" rating for the company in a research report on Thursday, August 29th. Finally, Raymond James cut their price target on shares of Pure Storage from $73.00 to $70.00 and set an "outperform" rating on the stock in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $68.05.

Pure Storage Stock Down 3.0 %

NYSE PSTG traded down $1.67 on Wednesday, hitting $53.40. 2,216,688 shares of the company were exchanged, compared to its average volume of 3,705,659. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The company has a market cap of $17.50 billion, a PE ratio of 133.50, a PEG ratio of 8.47 and a beta of 1.11. The stock has a fifty day moving average of $52.04 and a 200-day moving average of $56.97. Pure Storage, Inc. has a 12 month low of $31.00 and a 12 month 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $756.59 million. As a group, analysts forecast that Pure Storage, Inc. will post 0.43 earnings per share for the current year.

Pure Storage 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.