Xponance Inc. Has $4.61 Million Stake in Pure Storage, Inc. (NYSE:PSTG)

Xponance Inc. boosted its position in Pure Storage, Inc. (NYSE:PSTG) by 22.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,837 shares of the technology company’s stock after buying an additional 13,368 shares during the period. Xponance Inc.’s holdings in Pure Storage were worth $4,613,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in Pure Storage by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,168,335 shares of the technology company’s stock valued at $41,666,000 after buying an additional 28,086 shares during the period. State of Alaska Department of Revenue bought a new stake in Pure Storage in the first quarter valued at $1,675,000. Texas Permanent School Fund Corp bought a new stake in Pure Storage in the first quarter valued at $13,514,000. Cetera Investment Advisers increased its stake in Pure Storage by 284.9% in the first quarter. Cetera Investment Advisers now owns 55,801 shares of the technology company’s stock valued at $2,901,000 after purchasing an additional 41,305 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Pure Storage in the first quarter valued at $709,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Pure Storage Trading Down 0.8 %

Shares of PSTG stock opened at $49.81 on Wednesday. Pure Storage, Inc. has a 52-week low of $31.00 and a 52-week high of $70.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99. The company has a 50-day simple moving average of $55.06 and a two-hundred day simple moving average of $56.93. The company has a market capitalization of $16.32 billion, a price-to-earnings ratio of 177.89, a PEG ratio of 7.87 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. The business had revenue of $763.77 million during the quarter, compared to the consensus estimate of $756.59 million. Research analysts anticipate that Pure Storage, Inc. will post 0.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. TD Cowen decreased their price target on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Bank of America lifted their price target on shares of Pure Storage from $57.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. lifted their price target on shares of Pure Storage from $50.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Raymond James decreased their target price on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Finally, Citigroup decreased their target price on shares of Pure Storage from $75.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.95.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, CFO P. Kevan Krysler sold 14,296 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were 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 in the company, valued at $33,082,961.17. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Pure Storage news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $59.50, for a total value of $5,950,000.00. Following the transaction, the insider now directly owns 900,000 shares in the company, valued at $53,550,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO P. Kevan Krysler sold 14,296 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $63.79, for a total transaction of $911,941.84. Following the completion of the transaction, the chief financial officer now owns 518,623 shares in the company, valued at $33,082,961.17. The disclosure for this sale can be found here. Insiders have sold a total of 433,072 shares of company stock worth $24,307,792 over the last three months. 6.00% of the stock is currently owned by insiders.

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.