World Investment Advisors Has $790,000 Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

World Investment Advisors grew its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 85.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,855 shares of the technology company's stock after buying an additional 8,220 shares during the period. World Investment Advisors' holdings in Pure Storage were worth $790,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSTG. Peapack Gladstone Financial Corp lifted its holdings 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 purchasing an additional 150 shares in the last quarter. HighPoint Advisor Group LLC lifted its holdings in shares of Pure Storage by 2.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 5,885 shares of the technology company's stock valued at $396,000 after purchasing an additional 157 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Pure Storage by 1.4% during the 4th quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company's stock valued at $815,000 after purchasing an additional 186 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of 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 purchasing an additional 233 shares in the last quarter. Finally, Truvestments Capital LLC lifted its holdings in shares of Pure Storage by 3.0% during the 4th quarter. Truvestments Capital LLC now owns 8,436 shares of the technology company's stock valued at $518,000 after purchasing an additional 249 shares in the last quarter. Institutional investors own 83.42% of the company's stock.

Pure Storage Trading Down 2.0%

Shares of NYSE:PSTG traded down $1.17 during trading on Friday, hitting $56.39. 2,250,179 shares of the company were exchanged, compared to its average volume of 2,917,755. The stock has a market cap of $18.43 billion, a price-to-earnings ratio of 152.41, a P/E/G ratio of 5.52 and a beta of 1.06. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $73.67. The firm has a fifty day moving average price of $54.19 and a two-hundred day moving average price of $55.41.

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 for the quarter, topping analysts' consensus estimates of $0.25 by $0.04. Pure Storage had a return on equity of 13.98% and a net margin of 3.93%. The business had revenue of $778.49 million for the quarter, compared to analyst estimates of $770.03 million. During the same period in the previous year, the firm earned $0.32 EPS. The firm's revenue was up 12.3% compared to the same quarter last year. As a group, research analysts predict that Pure Storage, Inc. will post 0.44 EPS for the current year.

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 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 transaction, the insider directly owned 801,959 shares in the company, valued at $41,709,887.59. The trade was a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Francis Murphy sold 11,234 shares of the company's stock in a transaction 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 completion of the transaction, the director owned 21,930 shares in the company, valued at approximately $1,209,000.90. This represents a 33.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,684 shares of company stock valued at $7,713,802 in the last ninety days. Company insiders own 5.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PSTG. Morgan Stanley lifted 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. Needham & Company LLC reiterated a "buy" rating and set a $75.00 price objective on shares of Pure Storage in a report on Friday, June 20th. Wedbush restated an "outperform" rating and issued a $70.00 target price on shares of Pure Storage in a research note on Thursday, May 29th. Evercore ISI boosted their target price on Pure Storage from $60.00 to $70.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. Finally, Citigroup boosted their target price on Pure Storage from $55.00 to $65.00 and gave the company a "buy" rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $69.95.

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.