Natixis Invests $3.26 Million in Pure Storage, Inc. $PSTG

Natixis purchased a new stake in Pure Storage, Inc. (NYSE:PSTG) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 56,536 shares of the technology company’s stock, valued at approximately $3,255,000.

A number of other large investors have also added to or reduced their stakes in PSTG. LPL Financial LLC raised 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. Crumly & Associates Inc. acquired a new position in shares of Pure Storage in the 2nd quarter valued at approximately $242,000. Michael S. Ryan Inc. acquired a new position in shares of Pure Storage in the 2nd quarter valued at approximately $254,000. Brighton Jones LLC bought a new stake in shares of Pure Storage during the 2nd quarter worth approximately $359,000. Finally, Radnor Capital Management LLC boosted its position in shares of Pure Storage by 14.9% during the 2nd quarter. Radnor Capital Management LLC now owns 35,145 shares of the technology company’s stock worth $2,024,000 after acquiring an additional 4,555 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on PSTG. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Pure Storage in a research report on Wednesday, December 3rd. Bank of America lifted their price target on Pure Storage from $76.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, August 28th. TD Cowen upped their price objective on Pure Storage from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, December 3rd. Lake Street Capital lifted their target price on Pure Storage from $80.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, December 3rd. Finally, Oppenheimer assumed coverage on Pure Storage in a research note on Monday, November 17th. They set an “outperform” rating and a $120.00 target price for the company. Thirteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $95.26.

Pure Storage Stock Up 5.0%

Shares of PSTG stock opened at $73.65 on Thursday. The firm has a market capitalization of $24.20 billion, a P/E ratio of 193.81, a P/E/G ratio of 7.84 and a beta of 1.27. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $100.59. The stock’s fifty day simple moving average is $87.68 and its 200 day simple moving average is $71.83.

Pure Storage (NYSE:PSTG) last posted its earnings results on Tuesday, September 9th. The technology company reported $0.44 EPS for the quarter. The firm had revenue of $763.77 million during the quarter. Pure Storage had a return on equity of 10.60% and a net margin of 3.74%. As a group, equities research analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Insider Buying and Selling at Pure Storage

In other news, CRO Dan Fitzsimons sold 6,051 shares of the firm’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $87.42, for a total transaction of $528,978.42. Following the completion of the transaction, the executive owned 62,759 shares of the company’s stock, valued at approximately $5,486,391.78. This trade represents a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ajay Singh sold 7,014 shares of Pure Storage stock in a transaction on Wednesday, September 24th. The stock was 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 approximately $19,686,005.95. This trade represents a 2.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 427,311 shares of company stock worth $36,629,100 in the last 90 days. Corporate insiders own 5.60% of the company’s stock.

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.