Pure Storage Inc (PSTG) Holdings Boosted by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC boosted its holdings in Pure Storage Inc (NYSE:PSTG) by 2,440.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,188 shares of the technology company’s stock after buying an additional 41,488 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Pure Storage were worth $691,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Voya Investment Management LLC increased its position in shares of Pure Storage by 64.7% during the 2nd quarter. Voya Investment Management LLC now owns 43,164 shares of the technology company’s stock valued at $553,000 after purchasing an additional 16,955 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Pure Storage by 26.7% during the 2nd quarter. Vanguard Group Inc. now owns 7,059,059 shares of the technology company’s stock valued at $90,427,000 after purchasing an additional 1,489,008 shares during the last quarter. BARING ASSET MANAGEMENT Ltd purchased a new stake in shares of Pure Storage during the 3rd quarter valued at about $252,000. Legal & General Group Plc increased its position in shares of Pure Storage by 42.7% during the 2nd quarter. Legal & General Group Plc now owns 23,623 shares of the technology company’s stock valued at $303,000 after purchasing an additional 7,068 shares during the last quarter. Finally, Marcus Capital LLC increased its position in shares of Pure Storage by 57.6% during the 2nd quarter. Marcus Capital LLC now owns 231,500 shares of the technology company’s stock valued at $2,966,000 after purchasing an additional 84,600 shares during the last quarter. 38.44% of the stock is owned by institutional investors and hedge funds.

Pure Storage Inc (PSTG) opened at $16.15 on Monday. The stock has a market capitalization of $3,637.60, a P/E ratio of -16.15 and a beta of 0.96. Pure Storage Inc has a 52 week low of $9.12 and a 52 week high of $19.27.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Tuesday, November 28th. The technology company reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. Pure Storage had a negative return on equity of 44.96% and a negative net margin of 22.86%. The business had revenue of $277.70 million during the quarter, compared to the consensus estimate of $272.07 million. During the same period in the prior year, the company posted ($0.10) EPS. The firm’s revenue for the quarter was up 41.0% compared to the same quarter last year. equities analysts expect that Pure Storage Inc will post -0.93 EPS for the current year.

Several equities research analysts have recently commented on PSTG shares. ValuEngine lowered shares of Pure Storage from a “hold” rating to a “sell” rating in a research report on Monday, September 11th. BidaskClub lowered shares of Pure Storage from a “hold” rating to a “sell” rating in a research report on Wednesday, September 13th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Pure Storage in a research report on Saturday, September 23rd. UBS Group reaffirmed a “buy” rating and set a $18.00 price target (up previously from $15.00) on shares of Pure Storage in a research report on Monday, September 25th. Finally, Susquehanna Bancshares reaffirmed a “positive” rating and set a $20.00 price target (up previously from $18.00) on shares of Pure Storage in a research report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $18.55.

In other news, CFO Timothy Riitters sold 15,175 shares of the stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $15.55, for a total transaction of $235,971.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President David Hatfield sold 70,000 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $16.95, for a total value of $1,186,500.00. The disclosure for this sale can be found here. Insiders sold a total of 589,184 shares of company stock valued at $10,052,403 over the last 90 days. 46.58% of the stock is currently owned by corporate insiders.

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Pure Storage 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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