Graphene Investments SAS Increases Position in Pure Storage, Inc. (NYSE:PSTG)

Graphene Investments SAS boosted its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 11.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,700 shares of the technology company's stock after purchasing an additional 5,100 shares during the period. Graphene Investments SAS's holdings in Pure Storage were worth $2,200,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. McIlrath & Eck LLC purchased a new position in shares of Pure Storage during the 4th quarter valued at approximately $25,000. Crowley Wealth Management Inc. acquired a new stake in Pure Storage in the fourth quarter valued at $31,000. MassMutual Private Wealth & Trust FSB boosted its stake in Pure Storage by 55.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock valued at $29,000 after acquiring an additional 233 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Pure Storage by 157.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 713 shares of the technology company's stock valued at $44,000 after acquiring an additional 436 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Pure Storage by 180.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 740 shares of the technology company's stock worth $46,000 after acquiring an additional 476 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company's stock.

Insiders Place Their Bets

In related news, Director John Francis Murphy sold 11,234 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $55.13, for a total transaction of $619,330.42. Following the transaction, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Dan Fitzsimons sold 6,977 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $40.91, for a total value of $285,429.07. Following the completion of the sale, the executive now owns 90,223 shares of the company's stock, valued at $3,691,022.93. This trade represents a 7.18% 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 worth $6,460,576. 5.60% of the stock is owned by company insiders.

Pure Storage Stock Performance

Pure Storage stock opened at $55.66 on Friday. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $73.67. The company has a 50-day simple moving average of $51.62 and a 200-day simple moving average of $55.87. The firm has a market capitalization of $18.19 billion, a P/E ratio of 150.44, a P/E/G ratio of 5.24 and a beta of 1.05.

Pure Storage (NYSE:PSTG - Get Free Report) last posted its 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. Pure Storage had a net margin of 3.93% and a return on equity of 13.98%. The firm had revenue of $778.49 million during the quarter, compared to analyst estimates of $770.03 million. During the same period in the previous year, the business posted $0.32 EPS. Pure Storage's revenue was up 12.3% on a year-over-year basis. As a group, sell-side analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PSTG shares. Wall Street Zen upgraded shares of Pure Storage from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Morgan Stanley boosted their price objective on Pure Storage from $40.00 to $62.00 and gave the company an "equal weight" rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. reduced their target price on Pure Storage from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, May 29th. Barclays decreased their target price on 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. Finally, Citigroup upped their price target on Pure Storage from $55.00 to $65.00 and gave the company a "buy" rating in a research report on Friday, May 16th. One equities 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $69.95.

Pure Storage Company 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.

Want to see what other hedge funds are holding PSTG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pure Storage, Inc. (NYSE:PSTG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.