California State Teachers Retirement System Has $2.11 Million Position in Pure Storage, Inc. (PSTG)

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.

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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.

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

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