Zurcher Kantonalbank Zurich Cantonalbank Grows Position in Pure Storage, Inc. (NYSE:PSTG)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 23.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 90,577 shares of the technology company’s stock after purchasing an additional 17,111 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Pure Storage were worth $3,230,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. boosted its holdings in Pure Storage by 5,725.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,614,837 shares of the technology company’s stock valued at $57,520,000 after acquiring an additional 1,587,116 shares during the period. Acadian Asset Management LLC boosted its holdings in Pure Storage by 61.5% during the 3rd quarter. Acadian Asset Management LLC now owns 3,399,759 shares of the technology company’s stock valued at $121,081,000 after acquiring an additional 1,294,285 shares during the period. Qube Research & Technologies Ltd boosted its holdings in Pure Storage by 1,025.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,269,927 shares of the technology company’s stock valued at $45,235,000 after acquiring an additional 1,157,079 shares during the period. Polar Capital Holdings Plc boosted its holdings in Pure Storage by 33.8% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,068,672 shares of the technology company’s stock valued at $144,926,000 after acquiring an additional 1,028,104 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Pure Storage by 83.9% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,068,255 shares of the technology company’s stock valued at $73,754,000 after acquiring an additional 943,850 shares during the period. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, CFO P. Kevan Krysler sold 15,286 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $52.80, for a total value of $807,100.80. Following the completion of the sale, the chief financial officer now owns 507,824 shares in the company, valued at $26,813,107.20. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Ajay Singh sold 37,588 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $53.54, for a total transaction of $2,012,461.52. Following the completion of the sale, the insider now owns 380,834 shares in the company, valued at $20,389,852.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO P. Kevan Krysler sold 15,286 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $52.80, for a total value of $807,100.80. Following the sale, the chief financial officer now owns 507,824 shares of the company’s stock, valued at approximately $26,813,107.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 286,581 shares of company stock worth $15,266,704. 6.50% of the stock is owned by insiders.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $50.52 on Tuesday. The company has a current ratio of 1.83, a quick ratio of 1.80 and a debt-to-equity ratio of 0.08. Pure Storage, Inc. has a twelve month low of $22.14 and a twelve month high of $58.46. The stock has a 50 day moving average of $50.14 and a two-hundred day moving average of $41.38. The stock has a market cap of $16.41 billion, a P/E ratio of 297.19, a P/E/G ratio of 6.42 and a beta of 1.15.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.10. Pure Storage had a return on equity of 12.60% and a net margin of 2.17%. The company had revenue of $789.81 million during the quarter, compared to analysts’ expectations of $784.31 million. During the same quarter in the previous year, the business earned $0.27 earnings per share. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, research analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on PSTG. Morgan Stanley raised their target price on Pure Storage from $43.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Susquehanna lifted their price objective on Pure Storage from $45.00 to $65.00 and gave the company a “positive” rating in a research note on Thursday, April 11th. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 price objective on shares of Pure Storage in a research note on Thursday, April 11th. Citigroup started coverage on Pure Storage in a research note on Friday, March 15th. They issued a “buy” rating and a $65.00 price objective for the company. Finally, TD Cowen lifted their price objective on Pure Storage from $42.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.63.

Pure Storage Company Profile

Pure Storage, Inc, together with its subsidiaries, provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.