New York State Teachers Retirement System Purchases 34,367 Shares of Pure Storage, Inc. (NYSE:PSTG)

New York State Teachers Retirement System grew its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 12.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 316,383 shares of the technology company's stock after acquiring an additional 34,367 shares during the quarter. New York State Teachers Retirement System owned 0.10% of Pure Storage worth $15,895,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PSTG. abrdn plc boosted its position in shares of Pure Storage by 1,604.5% during the 3rd quarter. abrdn plc now owns 94,858 shares of the technology company's stock valued at $4,766,000 after acquiring an additional 89,293 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Pure Storage by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 35,670 shares of the technology company's stock valued at $1,792,000 after purchasing an additional 2,435 shares in the last quarter. Forsta AP Fonden grew its stake in shares of Pure Storage by 16.2% in the 3rd quarter. Forsta AP Fonden now owns 67,500 shares of the technology company's stock valued at $3,391,000 after purchasing an additional 9,400 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Pure Storage by 363.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,553 shares of the technology company's stock worth $275,000 after buying an additional 4,356 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC lifted its position in shares of Pure Storage by 5.0% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 6,426 shares of the technology company's stock worth $323,000 after buying an additional 308 shares during the period. Institutional investors and hedge funds own 83.42% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PSTG. Wedbush reiterated an "outperform" rating and issued a $80.00 price target on shares of Pure Storage in a research report on Monday, August 26th. Susquehanna reaffirmed a "positive" rating and issued a $80.00 target price on shares of Pure Storage in a report on Monday, August 26th. Raymond James cut their price target on shares of Pure Storage from $73.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, August 29th. TD Cowen decreased their price objective on shares of Pure Storage from $80.00 to $70.00 and set a "buy" rating on the stock in a research note on Thursday, August 29th. Finally, Northland Securities reiterated a "market perform" rating and issued a $59.00 target price (down previously from $68.00) on shares of Pure Storage in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $68.05.

Pure Storage Trading Up 1.8 %

Shares of PSTG stock traded up $0.90 during trading hours on Friday, reaching $50.95. The company had a trading volume of 1,916,968 shares, compared to its average volume of 2,375,943. Pure Storage, Inc. has a 1-year low of $31.00 and a 1-year high of $70.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. The firm has a market cap of $16.70 billion, a price-to-earnings ratio of 127.38, a P/E/G ratio of 7.85 and a beta of 1.10. The company has a 50 day moving average of $51.61 and a 200 day moving average of $56.94.

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

Insider Buying and Selling

In other news, insider John Colgrove sold 100,000 shares of the business's stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $61.76, for a total value of $6,176,000.00. Following the completion of the transaction, the insider now owns 700,000 shares of the company's stock, valued at $43,232,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $61.76, for a total transaction of $6,176,000.00. Following the transaction, the insider now owns 700,000 shares in the company, valued at $43,232,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Mona Chu sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total value of $1,258,000.00. Following the sale, the chief accounting officer now directly owns 96,639 shares of the company's stock, valued at approximately $4,862,874.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 554,542 shares of company stock valued at $30,014,030 in the last 90 days. 6.00% of the stock is owned by insiders.

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.