Pure Storage, Inc. $PSTG Shares Acquired by Bullseye Asset Management LLC

Bullseye Asset Management LLC raised its holdings in Pure Storage, Inc. (NYSE:PSTG) by 6.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 88,113 shares of the technology company’s stock after buying an additional 5,000 shares during the period. Pure Storage accounts for about 2.5% of Bullseye Asset Management LLC’s portfolio, making the stock its 9th largest holding. Bullseye Asset Management LLC’s holdings in Pure Storage were worth $5,073,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. LPL Financial LLC grew its stake in Pure Storage by 22.6% in the first quarter. LPL Financial LLC now owns 118,368 shares of the technology company’s stock valued at $5,240,000 after purchasing an additional 21,812 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Pure Storage by 13.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 275,796 shares of the technology company’s stock valued at $12,209,000 after buying an additional 32,611 shares in the last quarter. Crumly & Associates Inc. acquired a new position in Pure Storage during the second quarter worth $242,000. Michael S. Ryan Inc. bought a new stake in Pure Storage during the second quarter worth $254,000. Finally, Brighton Jones LLC acquired a new stake in Pure Storage in the second quarter valued at $359,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Needham & Company LLC boosted their price objective on shares of Pure Storage from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Evercore ISI upped their price objective on Pure Storage from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. Cowen reaffirmed a “buy” rating on shares of Pure Storage in a research report on Thursday, August 28th. Barclays boosted their target price on Pure Storage from $57.00 to $70.00 and gave the stock an “equal weight” rating in a report on Friday, August 29th. Finally, Wedbush raised their price target on Pure Storage from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Thirteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $92.61.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 7,014 shares of the stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $85.85, for a total transaction of $602,151.90. Following the transaction, the insider owned 229,307 shares in the company, valued at $19,686,005.95. This represents a 2.97% 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 the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $91.59, for a total transaction of $9,159,000.00. Following the transaction, the insider directly owned 100,000 shares in the company, valued at $9,159,000. This represents a 50.00% 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. Company insiders own 5.60% of the company’s stock.

Pure Storage Trading Up 4.8%

Shares of NYSE PSTG opened at $82.18 on Tuesday. The firm has a market cap of $27.01 billion, a P/E ratio of 200.44, a price-to-earnings-growth ratio of 8.99 and a beta of 1.24. The business’s 50 day moving average is $89.14 and its 200-day moving average is $69.88. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $100.59.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings data 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 return on equity of 11.34% and a net margin of 4.15%. Analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current year.

Pure Storage Company 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.