BlackRock Inc. Purchases 863,990 Shares of Pure Storage, Inc. (PSTG)

BlackRock Inc. increased its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 6.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,513,166 shares of the technology company’s stock after buying an additional 863,990 shares during the quarter. BlackRock Inc. owned 15.45% of Pure Storage worth $185,913,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Nationwide Fund Advisors grew its position in Pure Storage by 34.8% during the second quarter. Nationwide Fund Advisors now owns 52,924 shares of the technology company’s stock worth $678,000 after buying an additional 13,669 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Pure Storage by 568.1% during the second quarter. Ameriprise Financial Inc. now owns 176,054 shares of the technology company’s stock valued at $2,249,000 after purchasing an additional 149,704 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in Pure Storage by 36.1% during the second quarter. TIAA CREF Investment Management LLC now owns 785,774 shares of the technology company’s stock valued at $10,066,000 after purchasing an additional 208,388 shares in the last quarter. Teachers Advisors LLC boosted its holdings in Pure Storage by 37.6% during the second quarter. Teachers Advisors LLC now owns 1,078,858 shares of the technology company’s stock valued at $13,820,000 after purchasing an additional 295,073 shares in the last quarter. Finally, Marcus Capital LLC boosted its holdings in Pure Storage by 57.6% during the second quarter. Marcus Capital LLC now owns 231,500 shares of the technology company’s stock valued at $2,966,000 after purchasing an additional 84,600 shares in the last quarter. 35.30% of the stock is currently owned by institutional investors and hedge funds.

PSTG has been the topic of a number of recent research reports. Robert W. Baird reaffirmed a “hold” rating and set a $14.00 price objective on shares of Pure Storage in a report on Wednesday, June 14th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $16.00 price objective on shares of Pure Storage in a report on Wednesday, June 14th. Morgan Stanley reaffirmed an “equal weight” rating and set a $13.00 price objective (up from $12.00) on shares of Pure Storage in a report on Wednesday, June 14th. BMO Capital Markets reaffirmed a “buy” rating on shares of Pure Storage in a report on Wednesday, June 14th. Finally, Vetr raised Pure Storage from a “buy” rating to a “strong-buy” rating and set a $15.50 price objective on the stock in a report on Wednesday, June 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Pure Storage currently has a consensus rating of “Buy” and an average target price of $15.95.

In other Pure Storage news, CFO Timothy Riitters sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $14.56, for a total value of $72,800.00. Following the sale, the chief financial officer now owns 282,200 shares in the company, valued at $4,108,832. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President David Hatfield sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $16.00, for a total transaction of $640,000.00. Following the completion of the sale, the president now owns 225,190 shares in the company, valued at approximately $3,603,040. The disclosure for this sale can be found here. Insiders have sold a total of 155,000 shares of company stock worth $2,363,950 in the last quarter. 41.47% of the stock is currently owned by company insiders.

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Pure Storage, Inc. (NYSE PSTG) opened at 15.82 on Wednesday. The firm’s market capitalization is $3.35 billion. Pure Storage, Inc. has a one year low of $9.12 and a one year high of $16.35. The stock has a 50 day moving average price of $14.94 and a 200 day moving average price of $12.73.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Thursday, August 24th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.20. The business had revenue of $224.50 million for the quarter, compared to analyst estimates of $217.97 million. Pure Storage had a negative net margin of 29.55% and a negative return on equity of 46.12%. The firm’s revenue for the quarter was up 37.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.16) EPS. On average, equities analysts predict that Pure Storage, Inc. will post ($0.22) EPS for the current fiscal year.

Pure Storage Company Profile

Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.

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Institutional Ownership by Quarter for Pure Storage (NYSE:PSTG)

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