Pure Storage, Inc. (NYSE:PSTG) Shares Purchased by Banque Pictet & Cie SA

Banque Pictet & Cie SA lifted its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 6.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 170,890 shares of the technology company's stock after purchasing an additional 11,094 shares during the quarter. Banque Pictet & Cie SA owned approximately 0.05% of Pure Storage worth $7,565,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its position in Pure Storage by 23.5% during the 4th quarter. Victory Capital Management Inc. now owns 284,649 shares of the technology company's stock worth $17,486,000 after acquiring an additional 54,256 shares during the period. Franklin Resources Inc. lifted its position in Pure Storage by 0.5% during the 4th quarter. Franklin Resources Inc. now owns 2,566,374 shares of the technology company's stock worth $157,652,000 after acquiring an additional 12,972 shares during the period. Fifth Third Bancorp lifted its position in Pure Storage by 11.3% during the 1st quarter. Fifth Third Bancorp now owns 5,339 shares of the technology company's stock worth $236,000 after acquiring an additional 542 shares during the period. Oppenheimer & Co. Inc. lifted its position in Pure Storage by 8.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 7,327 shares of the technology company's stock worth $324,000 after acquiring an additional 570 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its position in Pure Storage by 20.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,414 shares of the technology company's stock worth $333,000 after acquiring an additional 932 shares during the period. 83.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, 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 sale, the insider owned 801,959 shares in the company, valued at $41,709,887.59. This trade represents 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 available through this link. Also, Director John Francis Murphy sold 11,234 shares of the firm's 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 sale, the director owned 21,930 shares in the company, valued at $1,209,000.90. This trade represents a 33.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,684 shares of company stock worth $7,713,802 in the last 90 days. Corporate insiders own 5.60% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PSTG shares. Barclays cut their target price on 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 reissued an "outperform" rating and set a $70.00 target price on shares of Pure Storage in a research note on Thursday, May 29th. Citigroup increased their target price on Pure Storage from $55.00 to $65.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Needham & Company LLC reissued a "buy" rating and set a $75.00 target price on shares of Pure Storage in a research note on Friday, June 20th. Finally, Morgan Stanley increased their target price on Pure Storage from $40.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. 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 data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $69.95.

Pure Storage Price Performance

NYSE:PSTG traded down $1.17 during trading hours on Friday, reaching $56.39. 2,250,341 shares of the company traded hands, compared to its average volume of 2,921,481. The firm's 50-day moving average is $54.37 and its 200-day moving average is $55.29. The stock has a market cap of $18.43 billion, a P/E ratio of 152.41, a P/E/G ratio of 5.34 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 announced its earnings results on Wednesday, May 28th. The technology company reported $0.29 EPS 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 analysts' expectations of $770.03 million. Pure Storage had a return on equity of 13.98% and a net margin of 3.93%. Pure Storage's quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 EPS. As a group, research analysts predict that Pure Storage, Inc. will post 0.44 earnings per share 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.