Pure Storage, Inc. (NYSE:PSTG) Shares Acquired by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP increased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 29.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 995,019 shares of the technology company's stock after buying an additional 225,949 shares during the quarter. Westfield Capital Management Co. LP owned about 0.30% of Pure Storage worth $49,990,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC acquired a new stake in shares of Pure Storage in the first quarter worth approximately $315,000. Quadrature Capital Ltd purchased a new stake in shares of Pure Storage during the 1st quarter valued at $1,065,000. Caxton Associates LP purchased a new stake in shares of Pure Storage during the 1st quarter valued at $2,017,000. Motley Fool Asset Management LLC increased its holdings in shares of Pure Storage by 8.0% during the 1st quarter. Motley Fool Asset Management LLC now owns 6,408 shares of the technology company's stock worth $333,000 after buying an additional 473 shares during the last quarter. Finally, Tidal Investments LLC raised its position 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 worth $2,102,000 after buying an additional 4,180 shares during the period. 83.42% of the stock is owned by institutional investors and hedge funds.

Pure Storage Stock Up 4.0 %

Shares of Pure Storage stock traded up $2.09 during trading on Monday, reaching $53.75. The company had a trading volume of 4,355,664 shares, compared to its average volume of 3,647,079. The company has a market cap of $17.61 billion, a price-to-earnings ratio of 134.38, a price-to-earnings-growth ratio of 7.01 and a beta of 1.10. Pure Storage, Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $70.41. The firm's fifty day moving average is $51.79 and its 200-day moving average is $56.88. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99.

Pure Storage (NYSE:PSTG - Get Free Report) last released its earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.10. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. The company had revenue of $763.77 million for the quarter, compared to the consensus estimate of $756.59 million. On average, analysts anticipate that Pure Storage, Inc. will post 0.42 EPS for the current year.

Analyst Ratings Changes

PSTG has been the subject of several research analyst reports. Susquehanna restated a "positive" rating and set a $80.00 price target on shares of Pure Storage in a research note on Monday, August 26th. Evercore ISI cut their price target on shares of Pure Storage from $75.00 to $70.00 and set an "outperform" rating on the stock in a report on Thursday, August 29th. TD Cowen reduced their price target on shares of Pure Storage from $80.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday, August 29th. Stifel Nicolaus dropped their price objective 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, Needham & Company LLC reduced their target price on shares of Pure Storage from $80.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday, August 29th. One 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $67.95.

Insiders Place Their Bets

In other Pure Storage news, CAO Mona Chu sold 20,647 shares of the firm's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $51.50, for a total value of $1,063,320.50. Following the sale, the chief accounting officer now directly owns 75,992 shares in the company, valued at approximately $3,913,588. This trade represents a 21.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Colgrove sold 100,000 shares of the company's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the transaction, the insider now owns 500,000 shares of the company's stock, valued at $24,970,000. This represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 354,542 shares of company stock valued at $18,599,030 over the last 90 days. 6.00% of the stock is owned by company insiders.

About Pure Storage

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.