Allspring Global Investments Holdings LLC Purchases Shares of 538,934 Pure Storage, Inc. (NYSE:PSTG)

Allspring Global Investments Holdings LLC purchased a new stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 538,934 shares of the technology company's stock, valued at approximately $24,462,000. Allspring Global Investments Holdings LLC owned approximately 0.17% of Pure Storage as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Pure Storage during the fourth quarter valued at approximately $216,690,000. Artisan Partners Limited Partnership purchased a new stake in shares of Pure Storage in the 4th quarter worth approximately $210,906,000. William Blair Investment Management LLC increased its position in Pure Storage by 1,725.3% during the 4th quarter. William Blair Investment Management LLC now owns 2,525,208 shares of the technology company's stock valued at $155,124,000 after buying an additional 2,386,864 shares in the last quarter. Geode Capital Management LLC raised its stake in Pure Storage by 25.4% during the fourth quarter. Geode Capital Management LLC now owns 6,748,553 shares of the technology company's stock valued at $413,982,000 after buying an additional 1,366,458 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Pure Storage during the fourth quarter valued at $70,971,000. 83.42% of the stock is owned by hedge funds and other institutional investors.

Pure Storage Trading Up 1.4%

PSTG stock traded up $0.80 during trading on Thursday, reaching $56.80. The stock had a trading volume of 1,217,759 shares, compared to its average volume of 2,921,272. The firm has a market cap of $18.56 billion, a PE ratio of 153.50, a PEG ratio of 5.31 and a beta of 1.06. The stock's 50 day moving average is $52.81 and its two-hundred day moving average is $55.71. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $73.67.

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

Insider Transactions at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Monday, May 12th. The stock was sold at an average price of $52.01, for a total transaction of $5,201,000.00. Following the transaction, the insider directly owned 801,959 shares in the company, valued at approximately $41,709,887.59. The trade was a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Dan Fitzsimons sold 6,977 shares of the business's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $40.91, for a total value of $285,429.07. Following the sale, the executive directly owned 90,223 shares of the company's stock, valued at $3,691,022.93. This represents a 7.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 125,083 shares of company stock worth $6,460,576 in the last 90 days. 5.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PSTG shares. Barclays reduced their price target 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. Citigroup raised their price objective on shares of Pure Storage from $55.00 to $65.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Evercore ISI upped their target price on shares of Pure Storage from $60.00 to $70.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Needham & Company LLC reiterated a "buy" rating and set a $75.00 price target on shares of Pure Storage in a report on Friday, June 20th. Finally, Wedbush restated an "outperform" rating and issued a $70.00 price objective on shares of Pure Storage in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $69.95.

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.