Peregrine Capital Management LLC Buys 5,503 Shares of Pure Storage, Inc. (NYSE:PSTG)

Peregrine Capital Management LLC lifted its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 164,595 shares of the technology company's stock after purchasing an additional 5,503 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.05% of Pure Storage worth $7,287,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PSTG. Norges Bank acquired a new stake in Pure Storage in the 4th quarter worth approximately $216,690,000. Artisan Partners Limited Partnership bought a new position in shares of Pure Storage in the fourth quarter valued at approximately $210,906,000. William Blair Investment Management LLC lifted its stake in shares of Pure Storage by 1,725.3% in the fourth quarter. William Blair Investment Management LLC now owns 2,525,208 shares of the technology company's stock worth $155,124,000 after buying an additional 2,386,864 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Pure Storage by 25.4% in the fourth quarter. Geode Capital Management LLC now owns 6,748,553 shares of the technology company's stock worth $413,982,000 after buying an additional 1,366,458 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Pure Storage during the 4th quarter worth $70,971,000. Institutional investors own 83.42% of the company's stock.

Pure Storage Trading Up 1.4%

NYSE PSTG traded up $0.80 on Friday, reaching $56.80. The company's stock had a trading volume of 1,217,759 shares, compared to its average volume of 2,921,272. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $73.67. The firm has a market cap of $18.56 billion, a PE ratio of 153.50, a price-to-earnings-growth ratio of 5.39 and a beta of 1.06. The business has a 50-day moving average price of $53.04 and a 200 day moving average price of $55.64.

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wedbush reiterated an "outperform" rating and issued a $70.00 target price on shares of Pure Storage in a report on Thursday, May 29th. Needham & Company LLC reiterated a "buy" rating and issued a $75.00 price objective on shares of Pure Storage in a research note on Friday, June 20th. Barclays cut their price objective 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. JPMorgan Chase & Co. lowered 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. Finally, Evercore ISI upped their price target on Pure Storage from $60.00 to $70.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. 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 stock. Based on data from MarketBeat, Pure Storage presently has an average rating of "Moderate Buy" and a consensus target price of $69.95.

Insider Activity at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the company's stock in a transaction dated 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 sale, the insider directly owned 801,959 shares of the company's stock, valued at approximately $41,709,887.59. This represents a 11.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Dan Fitzsimons sold 6,977 shares of Pure Storage stock in a transaction that occurred 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 transaction, the executive owned 90,223 shares of the company's stock, valued at $3,691,022.93. This trade represents a 7.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold 125,083 shares of company stock valued at $6,460,576 in the last ninety days. Insiders own 5.60% of the company's stock.

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.