Calamos Advisors LLC Acquires New Stake in Pure Storage, Inc. $PSTG

Calamos Advisors LLC bought a new position in shares of Pure Storage, Inc. (NYSE:PSTG) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 33,293 shares of the technology company’s stock, valued at approximately $1,917,000.

A number of other institutional investors have also recently made changes to their positions in the stock. William Blair Investment Management LLC lifted its stake in shares of Pure Storage by 112.9% in the second quarter. William Blair Investment Management LLC now owns 4,926,836 shares of the technology company’s stock worth $283,687,000 after acquiring an additional 2,612,300 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in Pure Storage by 25.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 9,075,944 shares of the technology company’s stock worth $401,793,000 after purchasing an additional 1,868,782 shares during the last quarter. Woodline Partners LP acquired a new position in shares of Pure Storage in the 1st quarter worth approximately $38,989,000. Nuveen LLC bought a new stake in shares of Pure Storage in the 1st quarter valued at $32,410,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Pure Storage by 109.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the technology company’s stock worth $50,377,000 after buying an additional 595,307 shares during the period. Institutional investors own 83.42% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on PSTG shares. UBS Group set a $110.00 target price on shares of Pure Storage in a report on Tuesday, October 21st. JPMorgan Chase & Co. boosted their price objective on Pure Storage from $80.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Cowen reaffirmed a “buy” rating on shares of Pure Storage in a research note on Thursday, August 28th. Wall Street Zen raised Pure Storage from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Finally, Guggenheim increased their price target on Pure Storage from $93.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Twelve investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Pure Storage currently has an average rating of “Moderate Buy” and a consensus price target of $89.65.

Insider Transactions at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $91.59, for a total transaction of $9,159,000.00. Following the completion of the transaction, the insider directly owned 100,000 shares in the company, valued at $9,159,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roxanne Taylor sold 3,000 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $76.93, for a total transaction of $230,790.00. Following the sale, the director directly owned 16,343 shares of the company’s stock, valued at approximately $1,257,266.99. The trade was a 15.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 443,111 shares of company stock valued at $36,793,439. Corporate insiders own 5.60% of the company’s stock.

Pure Storage Stock Performance

Shares of NYSE:PSTG opened at $83.81 on Friday. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $100.59. The business’s 50 day simple moving average is $89.14 and its two-hundred day simple moving average is $67.88. The firm has a market cap of $27.54 billion, a P/E ratio of 204.42, a PEG ratio of 8.99 and a beta of 1.24.

Pure Storage (NYSE:PSTG) last issued its earnings results on Tuesday, September 9th. The technology company reported $0.44 earnings per share for the quarter. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The company had revenue of $763.77 million for the quarter. On average, equities analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Pure Storage 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.