APG Asset Management N.V. Buys 150,516 Shares of Pure Storage, Inc. (NYSE:PSTG)

APG Asset Management N.V. raised its stake in Pure Storage, Inc. (NYSE:PSTG) by 191.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 229,216 shares of the technology company’s stock after acquiring an additional 150,516 shares during the quarter. APG Asset Management N.V. owned about 0.07% of Pure Storage worth $13,733,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. APG Asset Management US Inc. acquired a new stake in Pure Storage during the 2nd quarter worth approximately $612,000. AQR Capital Management LLC increased its position in Pure Storage by 52.0% during the 2nd quarter. AQR Capital Management LLC now owns 917,804 shares of the technology company’s stock worth $58,932,000 after buying an additional 314,164 shares during the period. AXA S.A. acquired a new stake in shares of Pure Storage during the second quarter worth $903,000. Toronto Dominion Bank bought a new stake in shares of Pure Storage in the second quarter valued at about $1,988,000. Finally, Fred Alger Management LLC grew its stake in shares of Pure Storage by 372.8% in the second quarter. Fred Alger Management LLC now owns 54,420 shares of the technology company’s stock valued at $3,494,000 after acquiring an additional 42,909 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Pure Storage Trading Down 2.0 %

PSTG opened at $49.44 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. Pure Storage, Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $70.41. The company’s 50 day moving average price is $54.48 and its two-hundred day moving average price is $56.81. The firm has a market capitalization of $16.20 billion, a price-to-earnings ratio of 176.57, a PEG ratio of 7.81 and a beta of 1.11.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.10. The company had revenue of $763.77 million for the quarter, compared to analysts’ expectations of $756.59 million. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. As a group, research analysts predict that Pure Storage, Inc. will post 0.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PSTG shares. Guggenheim reiterated a “buy” rating and issued a $72.00 price objective on shares of Pure Storage in a research note on Tuesday, June 25th. Lake Street Capital dropped their price target on shares of Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. UBS Group cut their price target on Pure Storage from $47.00 to $45.00 and set a “sell” rating for the company in a research note on Thursday, August 29th. Piper Sandler lowered their price objective on Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Finally, TD Cowen cut their target price on Pure Storage from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.95.

Insider Activity

In related news, CRO Dan Fitzsimons sold 9,881 shares of Pure Storage stock in a transaction on Friday, July 19th. The shares were sold at an average price of $59.32, for a total transaction of $586,140.92. Following the completion of the transaction, the executive now owns 115,601 shares of the company’s stock, valued at $6,857,451.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Pure Storage news, CFO P. Kevan Krysler sold 14,296 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $63.79, for a total value of $911,941.84. Following the transaction, the chief financial officer now directly owns 518,623 shares of the company’s stock, valued at $33,082,961.17. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Dan Fitzsimons sold 9,881 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $59.32, for a total transaction of $586,140.92. Following the sale, the executive now directly owns 115,601 shares of the company’s stock, valued at approximately $6,857,451.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 458,072 shares of company stock valued at $25,565,792. Company insiders own 6.00% of the company’s stock.

Pure Storage Profile

Pure Storage, Inc engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.