Pure Storage, Inc. (NYSE:PSTG) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 15.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 445,971 shares of the technology company’s stock after acquiring an additional 60,920 shares during the period. Russell Investments Group Ltd. owned approximately 0.14% of Pure Storage worth $16,043,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Truist Financial Corp lifted its position in shares of Pure Storage by 10.0% during the 4th quarter. Truist Financial Corp now owns 9,141 shares of the technology company’s stock valued at $326,000 after acquiring an additional 830 shares during the last quarter. Corbyn Investment Management Inc. MD purchased a new stake in shares of Pure Storage during the fourth quarter valued at $221,000. Bailard Inc. boosted its position in shares of Pure Storage by 8.7% in the 4th quarter. Bailard Inc. now owns 103,979 shares of the technology company’s stock valued at $3,708,000 after purchasing an additional 8,293 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in Pure Storage in the 4th quarter worth about $64,000. Finally, CWM LLC raised its holdings in Pure Storage by 30.5% during the 4th quarter. CWM LLC now owns 6,145 shares of the technology company’s stock worth $219,000 after buying an additional 1,435 shares during the period. 83.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PSTG. Morgan Stanley lifted their target price on shares of Pure Storage from $43.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Susquehanna increased their target price on Pure Storage from $45.00 to $65.00 and gave the company a “positive” rating in a report on Thursday, April 11th. KeyCorp lifted their price target on Pure Storage from $51.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Barclays increased their price objective on Pure Storage from $42.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Finally, Evercore ISI lifted their target price on Pure Storage from $41.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.63.

Insider Activity

In related news, CFO P. Kevan Krysler sold 15,286 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $52.80, for a total transaction of $807,100.80. Following the completion of the sale, the chief financial officer now directly owns 507,824 shares of the company’s stock, valued at approximately $26,813,107.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO P. Kevan Krysler sold 15,286 shares of Pure Storage stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $52.80, for a total value of $807,100.80. Following the transaction, the chief financial officer now directly owns 507,824 shares in the company, valued at $26,813,107.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Dan Fitzsimons sold 29,283 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $52.14, for a total value of $1,526,815.62. Following the sale, the executive now owns 138,105 shares of the company’s stock, valued at approximately $7,200,794.70. The disclosure for this sale can be found here. Insiders have sold a total of 286,581 shares of company stock valued at $15,266,704 over the last 90 days. 6.50% of the stock is currently owned by company insiders.

Pure Storage Trading Up 1.6 %

Pure Storage stock opened at $52.24 on Friday. Pure Storage, Inc. has a one year low of $22.14 and a one year high of $58.46. The company’s fifty day moving average price is $51.67 and its two-hundred day moving average price is $42.18. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.83 and a quick ratio of 1.80. The company has a market capitalization of $16.97 billion, a price-to-earnings ratio of 307.31, a PEG ratio of 6.68 and a beta of 1.15.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $784.31 million. During the same quarter in the prior year, the company posted $0.27 EPS. The firm’s revenue was down 2.5% on a year-over-year basis. On average, 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.