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

World Investment Advisors grew its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 85.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Pure Storage in the 4th quarter valued at about $216,690,000. Artisan Partners Limited Partnership purchased a new stake in shares of Pure Storage in the 4th quarter valued at about $210,906,000. William Blair Investment Management LLC lifted its holdings in shares of Pure Storage by 1,725.3% in the 4th quarter. William Blair Investment Management LLC now owns 2,525,208 shares of the technology company's stock valued at $155,124,000 after purchasing an additional 2,386,864 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Pure Storage by 25.4% in the 4th quarter. Geode Capital Management LLC now owns 6,748,553 shares of the technology company's stock valued at $413,982,000 after purchasing an additional 1,366,458 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Pure Storage by 18.8% in the 4th quarter. Invesco Ltd. now owns 4,162,081 shares of the technology company's stock valued at $255,677,000 after purchasing an additional 657,175 shares during the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PSTG shares. Piper Sandler reissued an "overweight" rating and issued a $66.00 target price (up from $53.00) on shares of Pure Storage in a report on Thursday, May 29th. Morgan Stanley boosted their target price on Pure Storage from $40.00 to $62.00 and gave the company an "equal weight" rating in a report on Tuesday, May 20th. Wall Street Zen raised Pure Storage from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. reduced their price objective on Pure Storage from $75.00 to $70.00 and set an "overweight" rating for the company in a research note on Thursday, May 29th. Finally, Evercore ISI upped their price objective on Pure Storage from $60.00 to $70.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $69.95.

Pure Storage Price Performance

NYSE PSTG traded down $1.17 on Friday, hitting $56.39. 2,250,341 shares of the company's stock were exchanged, compared to its average volume of 2,921,481. The firm's 50-day moving average price is $54.37 and its two-hundred day moving average price is $55.35. 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 market cap of $18.43 billion, a price-to-earnings ratio of 152.41, a P/E/G ratio of 5.34 and a beta of 1.06.

Pure Storage (NYSE:PSTG - Get Free Report) last released its quarterly 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. The business had revenue of $778.49 million for the quarter, compared to analysts' expectations 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 quarter in the prior year, the firm posted $0.32 EPS. On average, research analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Insider Transactions at Pure Storage

In related news, CRO Dan Fitzsimons sold 6,000 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $51.65, for a total value of $309,900.00. Following the sale, the executive owned 75,965 shares in the company, valued at $3,923,592.25. This represents a 7.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Colgrove sold 100,000 shares of the 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 sale, the insider owned 801,959 shares in the company, valued at approximately $41,709,887.59. This trade represents a 11.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 147,684 shares of company stock worth $7,713,802. 5.60% of the stock is currently owned by insiders.

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.