Oak Thistle LLC Grows Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Oak Thistle LLC increased its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 136.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,996 shares of the technology company's stock after acquiring an additional 26,533 shares during the quarter. Oak Thistle LLC's holdings in Pure Storage were worth $2,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. increased its stake 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 valued at $157,652,000 after purchasing an additional 12,972 shares in the last quarter. D.A. Davidson & CO. increased its stake in Pure Storage by 7.7% during the 1st quarter. D.A. Davidson & CO. now owns 7,000 shares of the technology company's stock valued at $310,000 after purchasing an additional 500 shares in the last quarter. Fifth Third Bancorp increased its stake in Pure Storage by 11.3% during the 1st quarter. Fifth Third Bancorp now owns 5,339 shares of the technology company's stock valued at $236,000 after purchasing an additional 542 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in Pure Storage by 8.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 7,327 shares of the technology company's stock valued at $324,000 after purchasing an additional 570 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in Pure Storage by 4.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 121,895 shares of the technology company's stock valued at $5,396,000 after purchasing an additional 4,687 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on PSTG shares. Needham & Company LLC restated a "buy" rating and set a $75.00 price objective on shares of Pure Storage in a research note on Friday, June 20th. Barclays reduced their price objective on shares of 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. 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. Citigroup raised their price target on shares of Pure Storage from $55.00 to $65.00 and gave the company a "buy" rating in a report on Friday, May 16th. Finally, Wall Street Zen downgraded shares of Pure Storage from a "buy" rating to a "hold" rating in a report on Saturday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $69.95.

Insider Activity

In other Pure Storage news, insider Ajay Singh sold 22,601 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $55.45, for a total transaction of $1,253,225.45. Following the transaction, the insider owned 261,465 shares in the company, valued at $14,498,234.25. The trade was a 7.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Colgrove sold 100,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $52.01, for a total transaction of $5,201,000.00. Following the transaction, the insider owned 801,959 shares in the company, valued at $41,709,887.59. This trade represents a 11.09% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,666 shares of company stock worth $7,819,260. 5.60% of the stock is currently owned by insiders.

Pure Storage Stock Up 1.1%

NYSE:PSTG traded up $0.60 during trading hours on Friday, hitting $57.56. 1,435,545 shares of the stock traded hands, compared to its average volume of 2,184,357. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $73.67. The company has a market cap of $18.81 billion, a price-to-earnings ratio of 155.57, a price-to-earnings-growth ratio of 5.42 and a beta of 1.06. The stock has a 50 day moving average price of $55.30 and a 200 day moving average price of $54.88.

Pure Storage (NYSE:PSTG - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The technology company reported $0.29 earnings per share 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 business had revenue of $778.49 million for the quarter, compared to analysts' expectations of $770.03 million. During the same quarter in the previous year, the business posted $0.32 earnings per share. The business's revenue was up 12.3% compared to the same quarter last year. Equities analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal 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.