Dimensional Fund Advisors LP Acquires 235,356 Shares of Pure Storage, Inc. (NYSE:PSTG)

Dimensional Fund Advisors LP boosted its holdings in Pure Storage, Inc. (NYSE:PSTG) by 22.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,303,863 shares of the technology company’s stock after buying an additional 235,356 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.40% of Pure Storage worth $83,728,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in Pure Storage by 56.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,696,390 shares of the technology company’s stock worth $237,345,000 after purchasing an additional 1,327,873 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Pure Storage by 4,095.7% during the 1st quarter. Principal Financial Group Inc. now owns 1,121,344 shares of the technology company’s stock worth $58,299,000 after purchasing an additional 1,094,618 shares during the last quarter. Frontier Capital Management Co. LLC raised its holdings in Pure Storage by 835.2% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,078,454 shares of the technology company’s stock worth $38,458,000 after purchasing an additional 963,140 shares during the last quarter. Vanguard Group Inc. raised its holdings in Pure Storage by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 31,294,297 shares of the technology company’s stock worth $1,115,955,000 after purchasing an additional 567,358 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Pure Storage by 251.9% during the 4th quarter. Wells Fargo & Company MN now owns 635,842 shares of the technology company’s stock worth $22,674,000 after purchasing an additional 455,177 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

Pure Storage Trading Up 1.2 %

NYSE PSTG opened at $50.43 on Thursday. The stock has a market capitalization of $16.53 billion, a price-to-earnings ratio of 180.07, a PEG ratio of 7.87 and a beta of 1.11. Pure Storage, Inc. has a one year low of $31.00 and a one year high of $70.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. The business’s fifty day moving average is $55.06 and its 200-day moving average is $56.93.

Pure Storage (NYSE:PSTG) last released its earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 17.41% and a net margin of 4.53%. Equities research analysts predict that Pure Storage, Inc. will post 0.43 EPS for the current year.

Analysts Set New Price Targets

PSTG has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Pure Storage from $50.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Guggenheim reaffirmed a “buy” rating and set a $72.00 price objective on shares of Pure Storage in a research report on Tuesday, June 25th. Lake Street Capital reduced their price objective 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. Evercore ISI reduced their price objective on shares of Pure Storage from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Finally, Northland Capmk downgraded shares of Pure Storage from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pure Storage has a consensus rating of “Moderate Buy” and a consensus target price of $66.95.

Insider Activity at Pure Storage

In related news, CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.67, for a total value of $450,709.65. Following the sale, the executive now directly owns 94,446 shares in the company, valued at approximately $4,785,578.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.67, for a total value of $450,709.65. Following the sale, the executive now directly owns 94,446 shares in the company, valued at approximately $4,785,578.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $49.94, for a total value of $4,994,000.00. Following the completion of the sale, the insider now owns 500,000 shares in the company, valued at $24,970,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 433,072 shares of company stock worth $24,307,792. 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.