Alliancebernstein L.P. Maintains Stake in Pure Storage, Inc. (NYSE:PSTG)

Alliancebernstein L.P. maintained its position in shares of Pure Storage, Inc. (NYSE:PSTG) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,400 shares of the technology company’s stock at the end of the first quarter. Alliancebernstein L.P.’s holdings in Pure Storage were worth $967,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. First Trust Advisors LP bought a new position in Pure Storage during the first quarter valued at about $135,000. American National Insurance Co. TX bought a new position in Pure Storage during the first quarter valued at about $150,000. Thompson Investment Management Inc. raised its position in Pure Storage by 40.5% in the first quarter. Thompson Investment Management Inc. now owns 19,875 shares of the technology company’s stock valued at $195,000 after buying an additional 5,725 shares in the last quarter. Fox Run Management L.L.C. raised its position in Pure Storage by 8.2% in the first quarter. Fox Run Management L.L.C. now owns 21,000 shares of the technology company’s stock valued at $206,000 after buying an additional 1,600 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in Pure Storage during the fourth quarter valued at about $228,000. 34.86% of the stock is owned by institutional investors and hedge funds.

Pure Storage, Inc. (NYSE:PSTG) opened at 12.49 on Friday. Pure Storage, Inc. has a 52-week low of $9.12 and a 52-week high of $15.14. The stock’s 50 day moving average price is $12.89 and its 200-day moving average price is $11.68. The company’s market cap is $2.61 billion.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings data on Wednesday, May 24th. The technology company reported ($0.14) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.08. Pure Storage had a negative return on equity of 44.04% and a negative net margin of 31.62%. The business had revenue of $182.60 million during the quarter, compared to analysts’ expectations of $176.13 million. During the same period in the previous year, the firm posted ($0.22) earnings per share. The company’s revenue was up 30.5% on a year-over-year basis. On average, equities analysts predict that Pure Storage, Inc. will post ($0.27) earnings per share for the current fiscal year.

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Several equities analysts have recently issued reports on PSTG shares. JMP Securities set a $16.00 price target on Pure Storage and gave the stock a “buy” rating in a research report on Friday, May 26th. BMO Capital Markets lifted their price objective on Pure Storage from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, May 25th. Maxim Group reiterated a “buy” rating and issued a $20.00 price objective on shares of Pure Storage in a report on Thursday, May 25th. BidaskClub upgraded Pure Storage from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Finally, Morgan Stanley downgraded Pure Storage from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $17.00 to $12.00 in a report on Thursday, May 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $15.39.

In other news, Director Michelangelo Volpi sold 1,425,000 shares of the business’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $13.15, for a total value of $18,738,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy Riitters sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $13.12, for a total value of $65,600.00. Following the sale, the chief financial officer now directly owns 245,703 shares of the company’s stock, valued at $3,223,623.36. The disclosure for this sale can be found here. Insiders sold 2,312,246 shares of company stock valued at $30,410,081 over the last ninety days. Insiders own 46.58% of the company’s stock.

Pure Storage Company Profile

Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.

Institutional Ownership by Quarter for Pure Storage (NYSE:PSTG)

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