Pure Storage, Inc. (NYSE:PSTG) Holdings Lifted by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd raised its position in Pure Storage, Inc. (NYSE:PSTG) by 53.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,818 shares of the technology company’s stock after purchasing an additional 19,444 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Pure Storage were worth $2,804,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PSTG. Massmutual Trust Co. FSB ADV raised its stake in Pure Storage by 61.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock valued at $27,000 after acquiring an additional 161 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Pure Storage by 242.9% in the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after purchasing an additional 306 shares during the period. FSC Wealth Advisors LLC bought a new position in Pure Storage in the 2nd quarter valued at about $33,000. ORG Partners LLC acquired a new position in Pure Storage during the 2nd quarter valued at about $35,000. Finally, City State Bank raised its position in shares of Pure Storage by 175.0% during the 2nd quarter. City State Bank now owns 550 shares of the technology company’s stock worth $35,000 after buying an additional 350 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Up 0.2 %

NYSE:PSTG opened at $51.66 on Monday. The business’s fifty day moving average price is $51.70 and its 200 day moving average price is $56.89. The firm has a market capitalization of $16.93 billion, a price-to-earnings ratio of 129.15, a PEG ratio of 7.01 and a beta of 1.10. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a 1-year low of $31.00 and a 1-year high of $70.41.

Pure Storage (NYSE:PSTG) last issued its earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.10. The firm had revenue of $763.77 million for the quarter, compared to the consensus estimate of $756.59 million. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. On average, sell-side analysts forecast that Pure Storage, Inc. will post 0.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Oppenheimer assumed coverage on shares of Pure Storage in a report on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 price objective for the company. Raymond James lowered their price target on Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Wedbush restated an “outperform” rating and issued a $80.00 price objective on shares of Pure Storage in a report on Monday, August 26th. Stifel Nicolaus lowered their target price on Pure Storage from $65.00 to $60.00 and set a “hold” rating on the stock in a report on Thursday, August 29th. Finally, Needham & Company LLC dropped their price target on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.95.

Insiders Place Their Bets

In related news, CAO Mona Chu sold 25,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total value of $1,258,000.00. Following the transaction, the chief accounting officer now directly owns 96,639 shares in the company, valued at approximately $4,862,874.48. This trade represents a 20.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Monday, October 21st. The stock was sold at an average price of $57.32, for a total transaction of $5,732,000.00. Following the completion of the transaction, the insider now owns 300,000 shares in the company, valued at $17,196,000. This trade represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 354,542 shares of company stock valued at $18,599,030 over the last three months. 6.00% of the stock is currently owned by insiders.

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.