Pure Storage, Inc. $PSTG Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC raised its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 289.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 293,329 shares of the technology company’s stock after buying an additional 218,061 shares during the quarter. SG Americas Securities LLC owned about 0.09% of Pure Storage worth $16,890,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. raised its position in shares of Pure Storage by 25.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 9,075,944 shares of the technology company’s stock valued at $401,793,000 after acquiring an additional 1,868,782 shares in the last quarter. Geode Capital Management LLC increased its stake in Pure Storage by 1.7% during the second quarter. Geode Capital Management LLC now owns 7,273,696 shares of the technology company’s stock valued at $417,830,000 after purchasing an additional 123,320 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of Pure Storage by 112.9% during the second quarter. William Blair Investment Management LLC now owns 4,926,836 shares of the technology company’s stock worth $283,687,000 after purchasing an additional 2,612,300 shares during the period. Blair William & Co. IL lifted its position in shares of Pure Storage by 2.8% in the 1st quarter. Blair William & Co. IL now owns 3,541,445 shares of the technology company’s stock worth $156,780,000 after buying an additional 96,731 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Pure Storage by 0.8% in the 1st quarter. Northern Trust Corp now owns 2,911,591 shares of the technology company’s stock valued at $128,896,000 after buying an additional 23,531 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insider Transactions at Pure Storage

In related news, CAO Mona Chu sold 9,091 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $84.91, for a total transaction of $771,916.81. Following the completion of the sale, the chief accounting officer directly owned 107,353 shares of the company’s stock, valued at $9,115,343.23. This represents a 7.81% 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 6,051 shares of the firm’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $87.42, for a total transaction of $528,978.42. Following the sale, the executive owned 62,759 shares of the company’s stock, valued at $5,486,391.78. The trade was a 8.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 443,111 shares of company stock valued at $36,793,439 in the last quarter. 5.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Lake Street Capital raised their target price on shares of Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. UBS Group set a $110.00 price target on Pure Storage in a report on Tuesday, October 21st. Piper Sandler set a $92.00 price objective on Pure Storage and gave the stock an “overweight” rating in a research note on Thursday, September 25th. Cowen reiterated a “buy” rating on shares of Pure Storage in a research note on Thursday, August 28th. Finally, Needham & Company LLC upped their price target on shares of Pure Storage from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Twelve investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.65.

Pure Storage Price Performance

Shares of NYSE:PSTG opened at $84.48 on Friday. The stock has a market cap of $27.76 billion, a price-to-earnings ratio of 206.06, a PEG ratio of 8.99 and a beta of 1.24. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $100.59. The stock’s 50 day moving average price is $89.25 and its 200 day moving average price is $68.31.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Tuesday, September 9th. The technology company reported $0.44 earnings per share (EPS) for the quarter. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The company had revenue of $763.77 million for the quarter. On average, sell-side analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current year.

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.