6,489 Shares in Pure Storage, Inc. (NYSE:PSTG) Acquired by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. purchased 6,489 shares of Pure Storage, Inc. for approximately $287,000, highlighting the interest of institutional investors in the company.
• Several large investors, including T. Rowe Price and Northern Trust Corp, have increased their stakes in Pure Storage, with institutional investors now owning 83.42% of the company's stock.
• Pure Storage recently reported an EPS of $0.29 for the last quarter, exceeding analyst expectations and showing a 12.3% year-over-year revenue growth.

ASR Vermogensbeheer N.V. purchased a new position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,489 shares of the technology company's stock, valued at approximately $287,000.

A number of other hedge funds have also made changes to their positions in the company. Bank Pictet & Cie Europe AG increased its holdings in shares of Pure Storage by 23.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 9,201 shares of the technology company's stock valued at $565,000 after purchasing an additional 1,740 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Pure Storage by 20.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 264,096 shares of the technology company's stock valued at $16,223,000 after buying an additional 45,152 shares in the last quarter. Advisory Services Network LLC boosted its holdings in Pure Storage by 54.5% in the fourth quarter. Advisory Services Network LLC now owns 14,421 shares of the technology company's stock valued at $886,000 after purchasing an additional 5,087 shares during the period. F M Investments LLC purchased a new position in Pure Storage in the fourth quarter valued at $277,000. Finally, Jaffetilchin Investment Partners LLC boosted its holdings in Pure Storage by 8,883.3% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 4,312 shares of the technology company's stock valued at $265,000 after purchasing an additional 4,264 shares during the period. Institutional investors and hedge funds own 83.42% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PSTG shares. Barclays decreased their target price on Pure Storage from $61.00 to $57.00 and set an "equal weight" rating for the company in a report on Thursday, May 29th. Evercore ISI lifted their price target on Pure Storage from $60.00 to $70.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. Needham & Company LLC reaffirmed a "buy" rating and set a $75.00 price target on shares of Pure Storage in a research report on Friday, June 20th. Piper Sandler reissued an "overweight" rating and issued a $66.00 price objective (up from $53.00) on shares of Pure Storage in a report on Thursday, May 29th. Finally, Wedbush restated an "outperform" rating and set a $70.00 target price on shares of Pure Storage in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $70.21.

Insiders Place Their Bets

In other news, Director John Francis Murphy sold 11,234 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $55.13, for a total transaction of $619,330.42. Following the completion of the transaction, the director directly owned 21,930 shares of the company's stock, valued at approximately $1,209,000.90. This represents a 33.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CRO Dan Fitzsimons sold 6,000 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $51.65, for a total value of $309,900.00. Following the transaction, the executive directly owned 75,965 shares of the company's stock, valued at approximately $3,923,592.25. This trade represents a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 446,794 shares of company stock valued at $26,641,913. Corporate insiders own 5.60% of the company's stock.

Pure Storage Stock Performance

Pure Storage stock traded up $0.16 during mid-day trading on Wednesday, reaching $59.57. 2,481,634 shares of the company were exchanged, compared to its average volume of 2,715,861. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $73.67. The firm's 50-day simple moving average is $56.07 and its two-hundred day simple moving average is $54.09. The firm has a market cap of $19.47 billion, a PE ratio of 161.00, a price-to-earnings-growth ratio of 5.45 and a beta of 1.07.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its earnings results on Wednesday, May 28th. The technology company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.04. The business had revenue of $778.49 million during the quarter, compared to the consensus estimate of $770.03 million. Pure Storage had a return on equity of 13.98% and a net margin of 3.93%. The company's revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS. As a group, equities research analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current year.

Pure Storage Company 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.