Qsemble Capital Management LP Purchases New Holdings in Pure Storage, Inc. (NYSE:PSTG)

Qsemble Capital Management LP purchased a new stake in Pure Storage, Inc. (NYSE:PSTG) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,296 shares of the technology company’s stock, valued at approximately $854,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Pure Storage by 1.6% in 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 purchasing an additional 495,183 shares during the last quarter. First Trust Advisors LP boosted its holdings in Pure Storage by 4.2% in 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 purchasing an additional 160,877 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Pure Storage by 56.1% in the second quarter. Bank of New York Mellon Corp now owns 3,696,390 shares of the technology company’s stock valued at $237,345,000 after purchasing an additional 1,327,873 shares during the last quarter. Norges Bank purchased a new position in Pure Storage in the fourth quarter valued at about $115,452,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Pure Storage by 12.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,234,382 shares of the technology company’s stock worth $143,470,000 after buying an additional 249,761 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Up 1.1 %

PSTG opened at $48.25 on Friday. Pure Storage, Inc. has a 12 month low of $31.00 and a 12 month 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 stock has a market cap of $15.69 billion, a P/E ratio of 172.32, a P/E/G ratio of 7.10 and a beta of 1.11. The stock’s 50 day moving average price is $57.57 and its 200 day moving average price is $56.94.

Wall Street Analysts Forecast Growth

PSTG has been the topic of a number of research analyst reports. Wells Fargo & Company increased their target price on Pure Storage from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Evercore ISI reduced their target price on Pure Storage from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Guggenheim reaffirmed a “buy” rating and set a $72.00 target price on shares of Pure Storage in a report on Tuesday, June 25th. Morgan Stanley downgraded Pure Storage from an “overweight” rating to an “equal weight” rating and set a $60.00 target price on the stock. in a report on Wednesday, June 12th. Finally, Stifel Nicolaus reduced their target price on Pure Storage from $65.00 to $60.00 and set a “hold” rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Pure Storage presently has an average rating of “Moderate Buy” and a consensus price target of $66.95.

Insider Activity at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $61.76, for a total value of $6,176,000.00. Following the sale, the insider now directly owns 700,000 shares in the company, valued at approximately $43,232,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $61.76, for a total value of $6,176,000.00. Following the sale, the insider now directly owns 700,000 shares in the company, valued at approximately $43,232,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO Dan Fitzsimons sold 9,881 shares of the stock in a transaction on Friday, July 19th. The shares were sold at an average price of $59.32, for a total value of $586,140.92. Following the transaction, the executive now directly owns 115,601 shares of the company’s stock, valued at $6,857,451.32. The disclosure for this sale can be found here. Insiders have sold a total of 324,177 shares of company stock worth $18,863,083 in the last three months. 6.00% of the stock is owned by company 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.