Dynamic Technology Lab Private Ltd Boosts Stake in Pure Storage, Inc. (NYSE:PSTG)

Dynamic Technology Lab Private Ltd increased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 53.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,818 shares of the technology company's stock after acquiring an additional 19,444 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Pure Storage were worth $2,804,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. O Shaughnessy Asset Management LLC bought a new stake in Pure Storage during the first quarter worth approximately $315,000. Quadrature Capital Ltd bought a new position in Pure Storage in the first quarter valued at about $1,065,000. Caxton Associates LP acquired a new stake in Pure Storage during the 1st quarter worth $2,017,000. Motley Fool Asset Management LLC grew its stake in shares of Pure Storage by 8.0% during the first quarter. Motley Fool Asset Management LLC now owns 6,408 shares of the technology company's stock worth $333,000 after purchasing an additional 473 shares during the period. Finally, Tidal Investments LLC increased its stake in shares of Pure Storage by 11.5% in the 1st quarter. Tidal Investments LLC now owns 40,438 shares of the technology company's stock valued at $2,102,000 after acquiring an additional 4,180 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Insider Activity

In other news, CAO Mona Chu sold 25,000 shares of the business's stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 96,639 shares of the company's stock, valued at $4,862,874.48. The trade was a 20.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Dan Fitzsimons sold 8,895 shares of the company's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.67, for a total value of $450,709.65. Following the sale, the executive now owns 94,446 shares of the company's stock, valued at approximately $4,785,578.82. This trade represents a 8.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 354,542 shares of company stock valued at $18,599,030. Corporate insiders own 6.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. William Blair reiterated an "outperform" rating on shares of Pure Storage in a report on Thursday, November 14th. Needham & Company LLC reduced their price objective on Pure Storage from $80.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, August 29th. Evercore ISI reduced their price objective on Pure Storage from $75.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, August 29th. Guggenheim boosted their price objective on Pure Storage from $72.00 to $93.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Finally, Oppenheimer started coverage on Pure Storage in a research note on Wednesday, November 13th. They issued an "outperform" rating and a $70.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Pure Storage has a consensus rating of "Moderate Buy" and a consensus target price of $67.95.

Pure Storage Price Performance

PSTG stock traded up $1.65 during midday trading on Monday, reaching $53.31. The company had a trading volume of 954,355 shares, compared to its average volume of 3,632,163. The company has a market capitalization of $17.47 billion, a P/E ratio of 131.85, a P/E/G ratio of 7.01 and a beta of 1.10. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. Pure Storage, Inc. has a 1 year low of $31.00 and a 1 year high of $70.41. The firm has a 50-day moving average price of $51.70 and a 200-day moving average price of $56.89.

Pure Storage (NYSE:PSTG - Get Free Report) last posted 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. The firm had revenue of $763.77 million during the quarter, compared to analysts' expectations of $756.59 million. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. On average, research analysts anticipate that Pure Storage, Inc. will post 0.42 earnings per share for the current fiscal year.

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.