Y Intercept Hong Kong Ltd Has $9.10 Million Holdings in Pure Storage, Inc. $PSTG

Y Intercept Hong Kong Ltd boosted its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 925.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,514 shares of the technology company’s stock after acquiring an additional 97,935 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Pure Storage were worth $9,095,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Mechanics Financial Corp bought a new position in shares of Pure Storage in the second quarter worth about $25,000. True Wealth Design LLC grew its holdings in Pure Storage by 402.8% in the 2nd quarter. True Wealth Design LLC now owns 548 shares of the technology company’s stock valued at $32,000 after buying an additional 439 shares during the last quarter. SouthState Corp increased its position in Pure Storage by 474.8% in the 2nd quarter. SouthState Corp now owns 592 shares of the technology company’s stock worth $34,000 after buying an additional 489 shares during the period. REAP Financial Group LLC increased its position in Pure Storage by 49.0% in the 2nd quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock worth $35,000 after buying an additional 201 shares during the period. Finally, Ramirez Asset Management Inc. lifted its holdings in shares of Pure Storage by 40.0% during the second quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company’s stock worth $40,000 after buying an additional 200 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Pure Storage from $80.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Wedbush increased their price target on shares of Pure Storage from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, December 3rd. Susquehanna set a $105.00 price target on shares of Pure Storage in a research report on Wednesday, December 3rd. Barclays upped their price objective on shares of Pure Storage from $70.00 to $77.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 3rd. Finally, Oppenheimer initiated coverage on shares of Pure Storage in a research note on Monday, November 17th. They issued an “outperform” rating and a $120.00 target price for the company. Twelve 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 company’s stock. Based on data from MarketBeat.com, Pure Storage presently has a consensus rating of “Moderate Buy” and an average price target of $95.26.

Insider Activity at Pure Storage

In related news, insider Ajay Singh sold 7,178 shares of the business’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total value of $481,930.92. Following the sale, the insider owned 215,091 shares of the company’s stock, valued at $14,441,209.74. The trade was a 3.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $71.31, for a total value of $7,131,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 207,178 shares of company stock valued at $16,771,931 in the last 90 days. 5.60% of the stock is owned by corporate insiders.

Pure Storage Stock Down 2.3%

NYSE PSTG opened at $69.79 on Friday. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $100.59. The stock has a market cap of $23.04 billion, a P/E ratio of 183.65, a PEG ratio of 7.93 and a beta of 1.26. The company’s 50-day simple moving average is $73.33 and its 200 day simple moving average is $75.05.

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

About Pure Storage

Pure Storage, Inc (NYSE: PSTG) is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays that are engineered to deliver high performance, low latency and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics and large-scale file/object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.