17,779 Shares in Pure Storage, Inc. (NYSE:PSTG) Bought by Bordeaux Wealth Advisors LLC

Bordeaux Wealth Advisors LLC purchased a new position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 17,779 shares of the technology company's stock, valued at approximately $787,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Pure Storage in the fourth quarter valued at approximately $216,690,000. Artisan Partners Limited Partnership purchased a new position in shares of Pure Storage in the 4th quarter valued at $210,906,000. William Blair Investment Management LLC grew its position in shares of Pure Storage by 1,725.3% in 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 during the last quarter. Geode Capital Management LLC raised its stake 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 worth $413,982,000 after acquiring an additional 1,366,458 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Pure Storage in the fourth quarter valued at $70,971,000. Institutional investors and hedge funds own 83.42% of the company's stock.

Pure Storage Trading Down 0.3%

Shares of PSTG traded down $0.15 during trading hours on Friday, reaching $55.47. The company had a trading volume of 3,768,917 shares, compared to its average volume of 2,932,933. The firm has a 50 day simple moving average of $51.90 and a 200-day simple moving average of $55.80. The company has a market capitalization of $18.13 billion, a price-to-earnings ratio of 102.59, a PEG ratio of 5.25 and a beta of 1.05. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $73.67.

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

Insider Activity at Pure Storage

In related news, CRO Dan Fitzsimons sold 6,977 shares of the company's stock in a transaction on 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 now directly owns 90,223 shares of the company's stock, valued at approximately $3,691,022.93. This represents a 7.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Francis Murphy sold 11,234 shares of the firm's stock in a transaction dated 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 directly owns 21,930 shares in the company, valued at $1,209,000.90. This trade represents a 33.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,083 shares of company stock valued at $6,460,576. 5.60% of the stock is owned by insiders.

Analyst Ratings Changes

PSTG has been the topic of a number of research analyst reports. Morgan Stanley lifted their target price on Pure Storage from $40.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. reduced 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 reduced 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. Wedbush reiterated an "outperform" rating and issued a $70.00 price target on shares of Pure Storage in a research report on Thursday, May 29th. Finally, Wall Street Zen upgraded shares of Pure Storage from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price 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.