Worldquant Millennium Advisors LLC Invests $26.21 Million in Pure Storage, Inc. (NYSE:PSTG)

Worldquant Millennium Advisors LLC acquired a new position in shares of Pure Storage, Inc. (NYSE:PSTG) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 426,599 shares of the technology company’s stock, valued at approximately $26,206,000. Worldquant Millennium Advisors LLC owned 0.13% of Pure Storage at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. World Investment Advisors grew its stake in shares of Pure Storage by 1.6% during the 4th quarter. World Investment Advisors now owns 9,635 shares of the technology company’s stock worth $592,000 after purchasing an additional 150 shares during the period. Peapack Gladstone Financial Corp grew its stake in shares of Pure Storage by 2.7% during the 4th quarter. Peapack Gladstone Financial Corp now owns 5,775 shares of the technology company’s stock worth $355,000 after purchasing an additional 150 shares during the period. HighPoint Advisor Group LLC grew its stake in shares of Pure Storage by 2.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 5,885 shares of the technology company’s stock worth $396,000 after purchasing an additional 157 shares during the period. Parallel Advisors LLC grew its stake in shares of Pure Storage by 1.4% during the 4th quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company’s stock worth $815,000 after purchasing an additional 186 shares during the period. Finally, Cherry Creek Investment Advisors Inc. grew its stake in shares of Pure Storage by 0.3% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company’s stock worth $4,130,000 after purchasing an additional 189 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PSTG. Evercore ISI dropped their price target on shares of Pure Storage from $75.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. Morgan Stanley lifted their price target on shares of Pure Storage from $40.00 to $62.00 and gave the company an “equal weight” rating in a research note on Tuesday. Bank of America dropped their price target on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $75.00 price target on shares of Pure Storage in a research note on Thursday, February 27th. Finally, UBS Group lifted their price target on shares of Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pure Storage currently has an average rating of “Moderate Buy” and an average price target of $70.20.

Insider Transactions at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $52.01, for a total value of $5,201,000.00. Following the sale, the insider now directly owns 801,959 shares in the company, valued at approximately $41,709,887.59. The trade was a 11.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Dan Fitzsimons sold 6,977 shares of the business’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $40.91, for a total transaction of $285,429.07. Following the completion of the sale, the executive now owns 90,223 shares in the company, valued at approximately $3,691,022.93. This trade represents a 7.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 107,849 shares of company stock worth $5,531,346 in the last quarter. Company insiders own 5.60% of the company’s stock.

Pure Storage Stock Up 0.5%

NYSE PSTG opened at $56.54 on Wednesday. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $73.67. The business’s fifty day simple moving average is $46.81 and its 200-day simple moving average is $55.78. The firm has a market cap of $18.43 billion, a PE ratio of 148.79, a P/E/G ratio of 5.12 and a beta of 1.05.

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.