Oak Thistle LLC Takes $1.65 Million Position in Pure Storage, Inc. $PSTG

Oak Thistle LLC bought a new position in Pure Storage, Inc. (NYSE:PSTG) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 19,723 shares of the technology company’s stock, valued at approximately $1,653,000.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Pure Storage by 0.9% during the second quarter. Vanguard Group Inc. now owns 33,268,006 shares of the technology company’s stock valued at $1,915,572,000 after acquiring an additional 308,738 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of Pure Storage by 25.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 9,075,944 shares of the technology company’s stock worth $401,793,000 after acquiring an additional 1,868,782 shares during the period. Geode Capital Management LLC grew its position in shares of Pure Storage by 1.7% during the second quarter. Geode Capital Management LLC now owns 7,273,696 shares of the technology company’s stock worth $417,830,000 after purchasing an additional 123,320 shares in the last quarter. William Blair Investment Management LLC raised its stake in Pure Storage by 112.9% during the 2nd quarter. William Blair Investment Management LLC now owns 4,926,836 shares of the technology company’s stock valued at $283,687,000 after purchasing an additional 2,612,300 shares during the period. Finally, Norges Bank bought a new stake in Pure Storage during the 2nd quarter valued at approximately $225,203,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PSTG. Tigress Financial set a $105.00 price target on Pure Storage in a research note on Wednesday, December 3rd. Oppenheimer initiated coverage on shares of Pure Storage in a report on Monday, November 17th. They issued an “outperform” rating and a $120.00 target price on the stock. Wedbush upped their target price on shares of Pure Storage from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Pure Storage in a research note on Wednesday, December 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Pure Storage in a research note on Wednesday, October 8th. Thirteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $95.26.

Pure Storage Stock Performance

NYSE PSTG opened at $66.31 on Thursday. The stock has a 50 day moving average price of $85.81 and a 200-day moving average price of $72.39. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $100.59. The company has a market capitalization of $21.79 billion, a P/E ratio of 174.49, a P/E/G ratio of 7.79 and a beta of 1.27.

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

Insider Buying and Selling at Pure Storage

In other news, insider Ajay Singh sold 7,014 shares of the company’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $85.85, for a total transaction of $602,151.90. Following the sale, the insider directly owned 229,307 shares in the company, valued at approximately $19,686,005.95. This represents a 2.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Dan Fitzsimons sold 6,051 shares of the stock in a transaction dated 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 directly owned 62,759 shares of the company’s stock, valued at approximately $5,486,391.78. The trade was a 8.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 327,311 shares of company stock valued at $27,896,100. 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.