Pure Storage, Inc. (NYSE:PSTG) Position Increased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. raised its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 4.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 121,895 shares of the technology company's stock after buying an additional 4,687 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Pure Storage were worth $5,396,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. World Investment Advisors raised its position in shares of Pure Storage by 1.6% during the 4th quarter. World Investment Advisors now owns 9,635 shares of the technology company's stock worth $592,000 after purchasing an additional 150 shares during the period. Peapack Gladstone Financial Corp raised its position in shares of Pure Storage by 2.7% during the 4th quarter. Peapack Gladstone Financial Corp now owns 5,775 shares of the technology company's stock worth $355,000 after purchasing an additional 150 shares during the period. HighPoint Advisor Group LLC raised its position in shares of Pure Storage by 2.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 5,885 shares of the technology company's stock worth $396,000 after purchasing an additional 157 shares during the period. Parallel Advisors LLC raised its position in shares of Pure Storage by 1.4% during the 4th quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company's stock worth $815,000 after purchasing an additional 186 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Pure Storage by 55.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock worth $29,000 after purchasing an additional 233 shares during the period. Institutional investors and hedge funds own 83.42% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PSTG shares. Citigroup upped their price target on shares of Pure Storage from $55.00 to $65.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Piper Sandler restated an "overweight" rating and set a $66.00 price target (up previously from $53.00) on shares of Pure Storage in a research report on Thursday, May 29th. JPMorgan Chase & Co. lowered their price target on shares of Pure Storage from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday, May 29th. Barclays lowered their price target on shares of Pure Storage from $61.00 to $57.00 and set an "equal weight" rating for the company in a research report on Thursday, May 29th. Finally, Wall Street Zen raised Pure Storage from a "hold" rating to a "buy" rating in a report on Friday, May 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $69.95.

Insider Activity

In other news, Director John Francis Murphy sold 11,234 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $55.13, for a total value of $619,330.42. Following the completion of the sale, the director now owns 21,930 shares in the company, valued at $1,209,000.90. This represents a 33.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Dan Fitzsimons sold 872 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $51.51, for a total value of $44,916.72. Following the completion of the sale, the executive now owns 89,351 shares of the company's stock, valued at $4,602,470.01. The trade was a 0.97% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 125,083 shares of company stock worth $6,460,576. Insiders own 5.60% of the company's stock.

Pure Storage Price Performance

Shares of NYSE:PSTG traded down $0.15 on Friday, reaching $55.47. 3,768,917 shares of the company traded hands, compared to its average volume of 2,932,933. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $73.67. The company's 50 day moving average is $51.90 and its 200-day moving average is $55.80. The stock has a market capitalization of $18.13 billion, a PE ratio of 149.91, a P/E/G ratio of 5.28 and a beta of 1.05.

Pure Storage (NYSE:PSTG - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The technology company reported $0.29 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.04. Pure Storage had a return on equity of 13.98% and a net margin of 3.93%. The company had revenue of $778.49 million during the quarter, compared to the consensus estimate of $770.03 million. During the same quarter in the prior year, the firm earned $0.32 EPS. The company's quarterly revenue was up 12.3% compared to the same quarter last year. As a group, analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current year.

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.