Virtu Financial LLC purchased a new position in shares of Pure Storage Inc (NYSE:PSTG) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 38,095 shares of the technology company’s stock, valued at approximately $989,000.
A number of other institutional investors have also made changes to their positions in the stock. Principal Financial Group Inc. lifted its position in Pure Storage by 105.4% in the 1st quarter. Principal Financial Group Inc. now owns 22,552 shares of the technology company’s stock worth $450,000 after buying an additional 11,574 shares during the last quarter. Bank of Montreal Can bought a new stake in Pure Storage in the 2nd quarter worth approximately $529,000. Janney Montgomery Scott LLC lifted its position in Pure Storage by 23.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 51,086 shares of the technology company’s stock worth $1,220,000 after buying an additional 9,715 shares during the last quarter. TD Asset Management Inc. bought a new stake in Pure Storage in the 2nd quarter worth approximately $337,000. Finally, Commonwealth Equity Services LLC bought a new stake in Pure Storage in the 2nd quarter worth approximately $281,000. 75.10% of the stock is owned by hedge funds and other institutional investors.
Shares of PSTG stock opened at $18.91 on Monday. The company has a quick ratio of 3.91, a current ratio of 4.03 and a debt-to-equity ratio of 0.68. Pure Storage Inc has a fifty-two week low of $15.81 and a fifty-two week high of $29.14. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of -22.51 and a beta of 1.73.
PSTG has been the subject of a number of recent research reports. Bank of America restated a “buy” rating and issued a $33.00 target price on shares of Pure Storage in a research report on Wednesday, September 19th. Zacks Investment Research downgraded Pure Storage from a “buy” rating to a “hold” rating in a research report on Monday, August 27th. Maxim Group restated a “hold” rating and issued a $21.00 target price on shares of Pure Storage in a research report on Tuesday, November 20th. ValuEngine downgraded Pure Storage from a “buy” rating to a “hold” rating in a research report on Saturday, October 27th. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $25.00 target price on shares of Pure Storage in a research report on Tuesday, November 20th. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $26.34.
In related news, CEO Charles H. Giancarlo sold 54,990 shares of the company’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $27.46, for a total transaction of $1,510,025.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Scott Dietzen sold 3,377 shares of the company’s stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $25.18, for a total value of $85,032.86. The disclosure for this sale can be found here. Insiders sold 189,417 shares of company stock valued at $5,116,580 in the last quarter. Corporate insiders own 15.30% of the company’s stock.
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Pure Storage Profile
Pure Storage, Inc engages in building a data platform that enables businesses to enhance performance and reduce complexity and costs worldwide. The company delivers its data platform through Purity Operating Environment, an optimized software for solid-state memory that offers enterprise-class storage and protocol services; FlashArray and FlashBlade optimized hardware products for solid-state memory to enhance the performance and density of flash, optimize its advanced software services, and reduce solution cost for customers; Pure1, a cloud-based management and support software; and FlashStack, a converged infrastructure solution.
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