Westfield Capital Management Co. LP Has $59.52 Million Stock Holdings in Pure Storage, Inc. $PSTG

Westfield Capital Management Co. LP decreased its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 33.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,033,724 shares of the technology company’s stock after selling 524,150 shares during the quarter. Westfield Capital Management Co. LP owned about 0.32% of Pure Storage worth $59,522,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Cerity Partners LLC boosted its position in shares of Pure Storage by 53.1% during the first quarter. Cerity Partners LLC now owns 19,741 shares of the technology company’s stock worth $874,000 after purchasing an additional 6,850 shares in the last quarter. CWM LLC grew its stake in Pure Storage by 26.7% in the first quarter. CWM LLC now owns 8,309 shares of the technology company’s stock valued at $368,000 after acquiring an additional 1,751 shares during the period. Private Advisor Group LLC increased its holdings in shares of Pure Storage by 76.8% in the first quarter. Private Advisor Group LLC now owns 20,597 shares of the technology company’s stock worth $912,000 after acquiring an additional 8,947 shares in the last quarter. Kestra Private Wealth Services LLC raised its position in shares of Pure Storage by 9.6% during the first quarter. Kestra Private Wealth Services LLC now owns 7,042 shares of the technology company’s stock worth $312,000 after purchasing an additional 616 shares during the period. Finally, IFP Advisors Inc lifted its holdings in shares of Pure Storage by 950.2% during the 1st quarter. IFP Advisors Inc now owns 7,110 shares of the technology company’s stock valued at $315,000 after purchasing an additional 6,433 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Insider Transactions at Pure Storage

In related news, insider Ajay Singh sold 7,014 shares of the firm’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $85.85, for a total value of $602,151.90. Following the completion of the transaction, the insider directly owned 229,307 shares of the company’s stock, valued at approximately $19,686,005.95. This trade represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mona Chu sold 17,500 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $76.51, for a total transaction of $1,338,925.00. Following the sale, the chief accounting officer directly owned 138,899 shares in the company, valued at $10,627,162.49. This trade represents a 11.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 443,111 shares of company stock valued at $36,793,439. 5.60% of the stock is owned by insiders.

Analyst Ratings Changes

PSTG has been the subject of a number of research reports. Needham & Company LLC increased their target price on Pure Storage from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Cowen reiterated a “buy” rating on shares of Pure Storage in a report on Thursday, August 28th. Guggenheim raised their price objective on shares of Pure Storage from $93.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Northland Securities upped their target price on shares of Pure Storage from $63.00 to $71.00 and gave the stock a “market perform” rating in a research note on Thursday, August 28th. Finally, Wall Street Zen raised Pure Storage from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Thirteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $92.61.

Pure Storage Trading Down 5.8%

Shares of PSTG opened at $77.22 on Friday. The stock has a market capitalization of $25.38 billion, a price-to-earnings ratio of 188.34, 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 firm has a fifty day simple moving average of $89.31 and a 200 day simple moving average of $69.13.

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

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.