Pure Storage, Inc. (NYSE:PSTG) Shares Bought by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG increased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 257.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,870 shares of the technology company's stock after purchasing an additional 23,669 shares during the period. Bank Pictet & Cie Europe AG's holdings in Pure Storage were worth $1,455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. World Investment Advisors boosted its position in shares of Pure Storage by 1.6% during the fourth quarter. World Investment Advisors now owns 9,635 shares of the technology company's stock worth $592,000 after buying an additional 150 shares during the period. Peapack Gladstone Financial Corp boosted its stake in Pure Storage by 2.7% in 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 grew its stake in Pure Storage by 2.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 5,885 shares of the technology company's stock valued at $396,000 after acquiring an additional 157 shares in the last quarter. Parallel Advisors LLC lifted its position in Pure Storage by 1.4% in the 4th quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company's stock worth $815,000 after buying an additional 186 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Pure Storage by 55.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock valued at $29,000 after purchasing an additional 233 shares during the last quarter. 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. Morgan Stanley raised their target price on shares of Pure Storage from $40.00 to $62.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 20th. Citigroup lifted their price target on Pure Storage from $55.00 to $65.00 and gave the company a "buy" rating in a report on Friday, May 16th. Evercore ISI raised their price objective on shares of Pure Storage from $60.00 to $70.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. UBS Group boosted their target price on Pure Storage from $47.00 to $50.00 and gave the company a "sell" rating in a research note on Thursday, February 27th. Finally, Barclays lowered their target price on Pure Storage from $61.00 to $57.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 29th. One 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. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $69.95.

Pure Storage Trading Down 0.0%

Shares of NYSE PSTG traded down $0.01 during trading hours on Monday, reaching $51.64. The stock had a trading volume of 5,428,799 shares, compared to its average volume of 2,977,481. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $73.67. The business's fifty day moving average price is $49.57 and its two-hundred day moving average price is $56.21. The firm has a market cap of $16.84 billion, a price-to-earnings ratio of 135.91, a P/E/G ratio of 5.12 and a beta of 1.05.

Pure Storage (NYSE:PSTG - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The technology company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. Pure Storage had a net margin of 4.22% and a return on equity of 16.06%. The business had revenue of $778.49 million during the quarter, compared to analyst estimates of $770.03 million. During the same period in the prior year, the firm posted $0.32 earnings per share. The company's quarterly revenue was up 12.3% on a year-over-year basis. Equities research analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director John Francis Murphy sold 11,234 shares of Pure Storage stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $55.13, for a total value of $619,330.42. Following the completion of the transaction, the director now owns 21,930 shares in the company, valued at $1,209,000.90. The trade was a 33.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the firm's 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 now directly owns 801,959 shares in the company, valued at $41,709,887.59. The trade was a 11.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 119,083 shares of company stock worth $6,150,676. 5.60% of the stock is owned by 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.