Fmr LLC Buys 368,643 Shares of Pure Storage, Inc. (NYSE:PSTG)

FMR LLC raised its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 0.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 49,153,797 shares of the technology company's stock after buying an additional 368,643 shares during the quarter. FMR LLC owned approximately 15.00% of Pure Storage worth $2,469,487,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in shares of Pure Storage by 56.1% in 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 acquiring an additional 1,327,873 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Pure Storage by 22.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company's stock valued at $204,163,000 after buying an additional 747,034 shares during the period. AQR Capital Management LLC boosted its stake in Pure Storage by 52.0% during the second quarter. AQR Capital Management LLC now owns 917,804 shares of the technology company's stock valued at $58,932,000 after buying an additional 314,164 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in Pure Storage during the second quarter worth about $19,278,000. Finally, Baader Bank Aktiengesellschaft raised its position in Pure Storage by 103.7% in the second quarter. Baader Bank Aktiengesellschaft now owns 10,000 shares of the technology company's stock worth $642,000 after acquiring an additional 282,000 shares in the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.

Pure Storage Stock Performance

Shares of NYSE PSTG traded up $0.72 during mid-day trading on Tuesday, hitting $54.46. The company had a trading volume of 1,398,630 shares, compared to its average volume of 3,636,608. Pure Storage, Inc. has a 12 month low of $31.00 and a 12 month high of $70.41. The firm has a market cap of $17.85 billion, a P/E ratio of 134.38, a PEG ratio of 7.01 and a beta of 1.10. The business's 50-day simple moving average is $51.79 and its 200-day simple moving average is $56.88. 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 (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, beating analysts' consensus estimates of $0.10 by $0.10. The business had revenue of $763.77 million for 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%. As a group, analysts predict that Pure Storage, Inc. will post 0.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on PSTG shares. UBS Group reduced their target price on shares of Pure Storage from $47.00 to $45.00 and set a "sell" rating for the company in a report on Thursday, August 29th. Citigroup decreased their target price on Pure Storage from $67.00 to $63.00 and set a "buy" rating on the stock in a report on Tuesday, November 19th. Susquehanna reaffirmed a "positive" rating and set a $80.00 target price on shares of Pure Storage in a report on Monday, August 26th. Stifel Nicolaus dropped their price target on Pure Storage from $65.00 to $60.00 and set a "hold" rating on the stock in a research note on Thursday, August 29th. Finally, Guggenheim upped their price objective on shares of Pure Storage from $72.00 to $93.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Pure Storage has an average rating of "Moderate Buy" and an average target price of $67.95.

Insider Transactions at Pure Storage

In related news, CAO Mona Chu sold 20,647 shares of Pure Storage stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $51.50, for a total transaction of $1,063,320.50. Following the completion of the transaction, the chief accounting officer now directly owns 75,992 shares of the company's stock, valued at $3,913,588. This trade represents a 21.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the completion of the transaction, the insider now owns 500,000 shares of the company's stock, valued at $24,970,000. This trade represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 354,542 shares of company stock valued at $18,599,030. Company insiders own 6.00% of the company's stock.

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.