Pure Storage, Inc. (NYSE:PSTG) Shares Purchased by World Investment Advisors

World Investment Advisors increased its holdings in 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 quarter. World Investment Advisors' holdings in Pure Storage were worth $790,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. McIlrath & Eck LLC bought a new stake in Pure Storage in the fourth quarter worth $25,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Pure Storage by 55.9% during the first 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 during the period. Crowley Wealth Management Inc. purchased a new stake in shares of Pure Storage during the fourth quarter valued at $31,000. FNY Investment Advisers LLC boosted its stake in shares of Pure Storage by 5,233.3% during the first quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company's stock valued at $35,000 after purchasing an additional 785 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Pure Storage by 157.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 713 shares of the technology company's stock valued at $44,000 after purchasing an additional 436 shares during the period. Hedge funds and other institutional investors own 83.42% of the company's stock.

Analysts Set New Price Targets

PSTG has been the subject of a number of research reports. JPMorgan Chase & Co. lowered their price objective on shares of Pure Storage from $75.00 to $70.00 and set an "overweight" rating for the company in a research note on Thursday, May 29th. Evercore ISI upped their price objective on shares of Pure Storage from $60.00 to $70.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Needham & Company LLC reaffirmed a "buy" rating and issued a $75.00 price objective on shares of Pure Storage in a research note on Friday, June 20th. Citigroup increased their price target on shares of Pure Storage from $55.00 to $65.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Finally, Barclays decreased their price target on shares of 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $69.95.

Insiders Place Their Bets

In other news, insider Ajay Singh sold 22,601 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $55.45, for a total value of $1,253,225.45. Following the completion of the transaction, the insider owned 261,465 shares in the company, valued at $14,498,234.25. This trade represents a 7.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Dan Fitzsimons sold 6,000 shares of the firm's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $51.65, for a total value of $309,900.00. Following the completion of the transaction, the executive owned 75,965 shares of the company's stock, valued at approximately $3,923,592.25. This represents a 7.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,684 shares of company stock worth $7,713,802 in the last ninety days. 5.60% of the stock is owned by insiders.

Pure Storage Price Performance

Shares of PSTG stock traded up $1.27 during trading hours on Wednesday, hitting $58.35. The stock had a trading volume of 2,864,796 shares, compared to its average volume of 2,919,137. The firm has a market capitalization of $19.07 billion, a PE ratio of 157.71, a PEG ratio of 5.32 and a beta of 1.06. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $73.67. The stock's 50 day moving average is $53.71 and its 200 day moving average is $55.43.

Pure Storage (NYSE:PSTG - Get Free Report) last released its earnings results on Wednesday, May 28th. The technology company reported $0.29 EPS for the quarter, beating 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 company had revenue of $778.49 million during the quarter, compared to the consensus estimate of $770.03 million. During the same quarter last year, the company earned $0.32 earnings per share. Pure Storage's quarterly revenue was up 12.3% compared to the same quarter last year. As a group, equities analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current 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.