July 14, 2024
Pure Storage, Inc. (NYSE:PSTG) Stock Holdings Increased by Wellington Management Group LLP



Wellington Management Group LLP lifted its stake in Pure Storage, Inc. (NYSE:PSTG – Free Report) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 548,430 shares of the technology company’s stock after purchasing an additional 1,893 shares during the quarter. Wellington Management Group LLP owned 0.17% of Pure Storage worth $19,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Franklin Resources Inc. increased its holdings in Pure Storage by 0.4% in the fourth quarter. Franklin Resources Inc. now owns 54,073 shares of the technology company’s stock worth $1,928,000 after buying an additional 242 shares during the last quarter. Mariner LLC increased its holdings in Pure Storage by 2.9% in the third quarter. Mariner LLC now owns 19,548 shares of the technology company’s stock worth $696,000 after buying an additional 553 shares during the last quarter. QRG Capital Management Inc. increased its holdings in Pure Storage by 5.9% in the fourth quarter. QRG Capital Management Inc. now owns 10,845 shares of the technology company’s stock worth $387,000 after buying an additional 600 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in Pure Storage by 20.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 3,681 shares of the technology company’s stock worth $133,000 after buying an additional 630 shares during the last quarter. Finally, Naples Money Management LLC acquired a new position in Pure Storage in the fourth quarter worth approximately $25,000. 83.42% of the stock is 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 Pure Storage stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $52.80, for a total transaction of $807,100.80. Following the completion of the transaction, the chief financial officer now directly owns 507,824 shares of the company’s stock, valued at $26,813,107.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Scott Dietzen sold 147,000 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $53.49, for a total value of $7,863,030.00. Following the completion of the sale, the director now directly owns 100,000 shares in the company, valued at $5,349,000. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO P. Kevan Krysler sold 15,286 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were 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 of the company’s stock, valued at $26,813,107.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 291,399 shares of company stock valued at $15,578,814. 6.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PSTG. TD Cowen increased their price objective on Pure Storage from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Wedbush reiterated an “outperform” rating and set a $70.00 price target (up previously from $50.00) on shares of Pure Storage in a report on Tuesday, May 28th. Susquehanna increased their price target on Pure Storage from $75.00 to $80.00 and gave the company a “positive” rating in a report on Friday, June 21st. Guggenheim reiterated a “buy” rating and set a $72.00 price target on shares of Pure Storage in a report on Tuesday. Finally, StockNews.com upgraded Pure Storage from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $68.95.

Get Our Latest Research Report on PSTG

Pure Storage Stock Up 0.1 %

Shares of NYSE PSTG opened at $62.91 on Wednesday. The stock has a market cap of $20.46 billion, a PE ratio of 224.68, a PEG ratio of 6.50 and a beta of 1.06. The business has a fifty day moving average of $58.93 and a two-hundred day moving average of $49.36. Pure Storage, Inc. has a 52-week low of $31.00 and a 52-week high of $70.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 2.00.

Pure Storage (NYSE:PSTG – Get Free Report) last issued its quarterly earnings data on Wednesday, May 29th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The company had revenue of $693.48 million during the quarter, compared to analysts’ expectations of $681.37 million. Pure Storage had a return on equity of 15.34% and a net margin of 3.19%. As a group, equities research analysts expect that Pure Storage, Inc. will post 0.47 earnings per share for the current fiscal year.

Pure Storage Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Pure Storage (NYSE:PSTG)



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