California State Teachers Retirement System increased its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 22.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 164,907 shares of the technology company’s stock after purchasing an additional 30,691 shares during the period. California State Teachers Retirement System owned approximately 0.08% of Pure Storage worth $2,112,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSTG. BlackRock Inc. raised its holdings in Pure Storage by 18,167.3% during the first quarter. BlackRock Inc. now owns 13,649,176 shares of the technology company’s stock worth $134,172,000 after purchasing an additional 13,574,457 shares in the last quarter. Vanguard Group Inc. raised its holdings in Pure Storage by 26.7% during the second quarter. Vanguard Group Inc. now owns 7,059,059 shares of the technology company’s stock worth $90,427,000 after purchasing an additional 1,489,008 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Pure Storage by 91.7% during the second quarter. Renaissance Technologies LLC now owns 2,461,000 shares of the technology company’s stock worth $31,525,000 after purchasing an additional 1,177,000 shares in the last quarter. UBS Oconnor LLC purchased a new position in Pure Storage during the second quarter worth about $13,130,000. Finally, AO Asset Management LLC purchased a new position in Pure Storage during the second quarter worth about $12,170,000. 35.17% of the stock is owned by hedge funds and other institutional investors.
In related news, President David Hatfield sold 70,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $16.35, for a total transaction of $1,144,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Timothy Riitters sold 55,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $14.82, for a total transaction of $815,100.00. Following the sale, the chief financial officer now owns 332,200 shares in the company, valued at approximately $4,923,204. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 242,028 shares of company stock worth $3,773,235. 41.47% of the stock is owned by company insiders.
COPYRIGHT VIOLATION NOTICE: “California State Teachers Retirement System Has $2.11 Million Position in Pure Storage, Inc. (PSTG)” was published by Week Herald and is the sole property of of Week Herald. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this piece of content can be viewed at https://weekherald.com/2017/11/15/california-state-teachers-retirement-system-has-2-11-million-position-in-pure-storage-inc-pstg.html.
PSTG has been the topic of several recent analyst reports. Robert W. Baird set a $14.00 target price on shares of Pure Storage and gave the stock a “hold” rating in a research report on Monday, August 14th. BidaskClub upgraded shares of Pure Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Wells Fargo & Company initiated coverage on shares of Pure Storage in a research report on Tuesday. They set an “outperform” rating on the stock. Maxim Group lowered shares of Pure Storage from a “buy” rating to a “hold” rating and lowered their target price for the stock from $20.00 to $15.00 in a research report on Monday, August 14th. Finally, BMO Capital Markets restated an “outperform” rating and set a $16.00 target price (up from $15.00) on shares of Pure Storage in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Pure Storage currently has a consensus rating of “Buy” and a consensus price target of $16.36.
Shares of Pure Storage, Inc. (NYSE PSTG) opened at $16.77 on Wednesday. Pure Storage, Inc. has a 1 year low of $9.12 and a 1 year high of $16.90.
Pure Storage (NYSE:PSTG) last announced its earnings results on Thursday, August 24th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.20. Pure Storage had a negative net margin of 29.55% and a negative return on equity of 46.12%. The firm had revenue of $224.50 million for the quarter, compared to analyst estimates of $217.97 million. During the same quarter last year, the business earned ($0.16) earnings per share. Pure Storage’s revenue was up 37.6% compared to the same quarter last year. equities research analysts predict that Pure Storage, Inc. will post -0.97 earnings per share for the current year.
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.
Receive News & Ratings for Pure Storage Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pure Storage Inc. and related companies with MarketBeat.com's FREE daily email newsletter.