Quadrature Capital Ltd Takes $1.07 Million Position in Pure Storage, Inc. (NYSE:PSTG)

Quadrature Capital Ltd acquired a new stake in shares of Pure Storage, Inc. (NYSE:PSTG) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,495 shares of the technology company’s stock, valued at approximately $1,065,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PSTG. Vanguard Group Inc. boosted its position in shares of Pure Storage by 1.6% during the first quarter. Vanguard Group Inc. now owns 31,789,480 shares of the technology company’s stock valued at $1,652,735,000 after buying an additional 495,183 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Pure Storage by 4.2% during the fourth quarter. First Trust Advisors LP now owns 4,028,716 shares of the technology company’s stock valued at $143,664,000 after buying an additional 160,877 shares during the last quarter. Norges Bank purchased a new position in shares of Pure Storage during the fourth quarter valued at approximately $115,452,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Pure Storage by 83.9% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,068,255 shares of the technology company’s stock worth $73,754,000 after purchasing an additional 943,850 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. boosted its position in Pure Storage by 83.9% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 2,068,255 shares of the technology company’s stock worth $73,733,000 after purchasing an additional 943,850 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Up 1.5 %

Pure Storage stock traded up $0.85 during mid-day trading on Friday, reaching $58.27. 1,986,928 shares of the company were exchanged, compared to its average volume of 2,628,705. The business has a fifty day moving average of $63.35 and a 200 day moving average of $53.62. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 2.00. The firm has a market cap of $18.95 billion, a P/E ratio of 208.11, a PEG ratio of 5.87 and a beta of 1.11. Pure Storage, Inc. has a 12-month low of $31.00 and a 12-month high of $70.41.

Pure Storage (NYSE:PSTG) last posted its earnings results on Wednesday, May 29th. The technology company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The company had revenue of $693.48 million during the quarter, compared to analyst estimates of $681.37 million. Pure Storage had a return on equity of 15.34% and a net margin of 3.19%. Research analysts anticipate that Pure Storage, Inc. will post 0.47 earnings per share for the current fiscal year.

Insider Transactions at Pure Storage

In other news, Director Mallun Yen sold 4,818 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $64.78, for a total transaction of $312,110.04. Following the transaction, the director now directly owns 35,498 shares of the company’s stock, valued at $2,299,560.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO P. Kevan Krysler sold 14,296 shares of the company’s stock in a transaction 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 approximately $33,082,961.17. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mallun Yen sold 4,818 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $64.78, for a total value of $312,110.04. Following the completion of the transaction, the director now directly owns 35,498 shares in the company, valued at $2,299,560.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 119,114 shares of company stock valued at $7,174,052. Corporate insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. TD Cowen boosted their price objective on Pure Storage from $60.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Needham & Company LLC reissued a “buy” rating and issued a $80.00 price objective on shares of Pure Storage in a research report on Friday, June 21st. Lake Street Capital upped their price target on Pure Storage from $48.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Barclays upped their price target on Pure Storage from $51.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Finally, Wedbush reaffirmed an “outperform” rating and set a $70.00 price target (up previously from $50.00) on shares of Pure Storage in a research report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.11.

About Pure Storage

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.