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Bailard Inc. Lowers Stake in Pure Storage, Inc. (NYSE:PSTG)

Pure Storage logo with Computer and Technology background

Bailard Inc. reduced its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 7.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 120,497 shares of the technology company's stock after selling 9,580 shares during the quarter. Bailard Inc.'s holdings in Pure Storage were worth $5,334,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of PSTG. Norges Bank purchased a new position in Pure Storage during the 4th quarter worth $216,690,000. Artisan Partners Limited Partnership bought a new stake in Pure Storage during the 4th quarter valued at $210,906,000. Geode Capital Management LLC boosted its position in Pure Storage by 25.4% during the 4th quarter. Geode Capital Management LLC now owns 6,748,553 shares of the technology company's stock valued at $413,982,000 after acquiring an additional 1,366,458 shares in the last quarter. Invesco Ltd. boosted its position in Pure Storage by 18.8% during the 4th quarter. Invesco Ltd. now owns 4,162,081 shares of the technology company's stock valued at $255,677,000 after acquiring an additional 657,175 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Pure Storage by 262.4% during the 4th quarter. American Century Companies Inc. now owns 893,410 shares of the technology company's stock valued at $54,882,000 after acquiring an additional 646,875 shares in the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Pure Storage Price Performance

PSTG stock traded up $0.91 during trading on Friday, hitting $58.16. 1,615,652 shares of the company traded hands, compared to its average volume of 2,912,009. The stock's 50-day simple moving average is $54.95 and its 200 day simple moving average is $55.11. The company has a market cap of $19.01 billion, a PE ratio of 157.19, a P/E/G ratio of 5.42 and a beta of 1.06. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $73.67.

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

Analysts Set New Price Targets

PSTG has been the topic of a number of recent analyst reports. Piper Sandler restated an "overweight" rating and issued a $66.00 price target (up from $53.00) on shares of Pure Storage in a report on Thursday, May 29th. Barclays lowered their target price on shares of Pure Storage from $61.00 to $57.00 and set an "equal weight" rating for the company in a research note on Thursday, May 29th. Wedbush restated an "outperform" rating and issued a $70.00 target price on shares of Pure Storage in a research note on Thursday, May 29th. Evercore ISI upped their target price on Pure Storage from $60.00 to $70.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. Finally, Morgan Stanley raised their price target on Pure Storage from $40.00 to $62.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, Pure Storage currently has an average rating of "Moderate Buy" and an average target price of $69.95.

Get Our Latest Stock Report on Pure Storage

Insider Activity

In other 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 completion of the transaction, the insider owned 801,959 shares of the company's stock, valued at $41,709,887.59. The trade was a 11.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO Dan Fitzsimons sold 6,977 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $40.91, for a total transaction of $285,429.07. Following the completion of the sale, the executive directly owned 90,223 shares in the company, valued at $3,691,022.93. This trade represents a 7.18% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 154,643 shares of company stock valued at $8,104,689. Company insiders own 5.60% of the company's stock.

About Pure Storage

(Free Report)

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.

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Institutional Ownership by Quarter for Pure Storage (NYSE:PSTG)

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