Pure Storage, Inc. (NYSE:PSTG) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 6,958.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 226,574 shares of the technology company's stock after acquiring an additional 223,364 shares during the period. GAMMA Investing LLC owned about 0.07% of Pure Storage worth $10,030,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. World Investment Advisors raised its holdings in Pure Storage by 1.6% in 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 lifted 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 valued at $355,000 after buying an additional 150 shares in the last quarter. HighPoint Advisor Group LLC grew its stake in Pure Storage by 2.7% in 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 during the period. Parallel Advisors LLC grew its stake in Pure Storage by 1.4% in the 4th quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company's stock valued at $815,000 after acquiring an additional 186 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Pure Storage by 55.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock worth $29,000 after acquiring an additional 233 shares in the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PSTG has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $75.00 price objective on shares of Pure Storage in a report on Thursday, May 29th. Wall Street Zen raised Pure Storage from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Wedbush reaffirmed an "outperform" rating and set a $70.00 target price on shares of Pure Storage in a report on Thursday, May 29th. Morgan Stanley raised their price target on shares of Pure Storage from $40.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. Finally, Citigroup boosted 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. One research 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 data from MarketBeat, Pure Storage presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.95.

Pure Storage Trading Up 1.3%

Pure Storage stock traded up $0.69 during mid-day trading on Friday, hitting $55.29. The company's stock had a trading volume of 1,995,192 shares, compared to its average volume of 2,986,665. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $73.67. The firm has a market capitalization of $18.02 billion, a PE ratio of 145.50, a price-to-earnings-growth ratio of 5.12 and a beta of 1.05. The stock's fifty day moving average is $48.16 and its two-hundred day moving average is $56.14.

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

Insiders Place Their Bets

In other news, CRO Dan Fitzsimons sold 6,977 shares of the company's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $40.91, for a total value of $285,429.07. Following the transaction, the executive now directly owns 90,223 shares in the company, valued at approximately $3,691,022.93. This represents a 7.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $52.01, for a total value of $5,201,000.00. Following the completion of the sale, the insider now directly owns 801,959 shares in the company, valued at approximately $41,709,887.59. The trade was a 11.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 107,849 shares of company stock valued at $5,531,346 over the last 90 days. 5.60% of the stock is owned by company 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.