Victory Capital Management Inc. increased its stake in Pure Storage Inc (NYSE:PSTG) by 4.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,572,650 shares of the technology company’s stock after buying an additional 65,680 shares during the period. Victory Capital Management Inc.’s holdings in Pure Storage were worth $34,268,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of PSTG. Oppenheimer Asset Management Inc. bought a new position in Pure Storage in the 4th quarter valued at approximately $27,000. Sageworth Trust Co bought a new position in Pure Storage in the 1st quarter valued at approximately $37,000. Sonora Investment Management LLC lifted its position in Pure Storage by 80.2% in the 4th quarter. Sonora Investment Management LLC now owns 1,910 shares of the technology company’s stock valued at $31,000 after acquiring an additional 850 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Pure Storage in the 4th quarter valued at approximately $42,000. Finally, Close Asset Management Ltd lifted its position in Pure Storage by 1,157.1% in the 4th quarter. Close Asset Management Ltd now owns 4,400 shares of the technology company’s stock valued at $318,000 after acquiring an additional 4,050 shares in the last quarter. Institutional investors own 73.63% of the company’s stock.
Shares of NYSE PSTG traded down $0.10 during midday trading on Friday, hitting $20.79. 54,607 shares of the stock traded hands, compared to its average volume of 2,168,182. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of -29.44 and a beta of 1.71. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.34 and a quick ratio of 3.25. Pure Storage Inc has a one year low of $13.99 and a one year high of $29.14.
Several research firms recently issued reports on PSTG. Credit Suisse Group began coverage on Pure Storage in a research report on Thursday, April 11th. They issued a “neutral” rating and a $23.00 price objective on the stock. Cowen raised Pure Storage from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $20.00 to $30.00 in a research report on Monday, April 8th. ValuEngine raised Pure Storage from a “hold” rating to a “buy” rating in a research report on Monday, April 1st. Oppenheimer set a $26.00 price target on Pure Storage and gave the company a “buy” rating in a report on Tuesday, March 19th. Finally, Maxim Group reissued a “hold” rating and set a $21.00 price target on shares of Pure Storage in a report on Friday, March 1st. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $26.10.
In other news, CFO Timothy Riitters sold 5,210 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $19.92, for a total value of $103,783.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Dietzen sold 400,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $20.46, for a total value of $8,184,000.00. The disclosure for this sale can be found here. Insiders sold a total of 564,260 shares of company stock valued at $11,880,961 over the last 90 days. 10.00% of the stock is currently owned by company insiders.
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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 and Artificial Intelligence Ready Infrastructure converged infrastructure solutions.
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