Voloridge Investment Management LLC Has $1.41 Million Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Voloridge Investment Management LLC lessened its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 79.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 22,871 shares of the technology company's stock after selling 90,208 shares during the period. Voloridge Investment Management LLC's holdings in Pure Storage were worth $1,405,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Pure Storage in the 4th quarter valued at $216,690,000. Artisan Partners Limited Partnership acquired a new position in shares of Pure Storage in the 4th quarter valued at $210,906,000. William Blair Investment Management LLC grew 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 buying an additional 2,386,864 shares during the period. Geode Capital Management LLC grew 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 buying an additional 1,366,458 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Pure Storage in the 4th quarter valued at $70,971,000. Institutional investors and hedge funds own 83.42% of the company's stock.

Insider Activity

In other 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 value of $5,201,000.00. Following the sale, the insider now directly owns 801,959 shares of the company's stock, valued at approximately $41,709,887.59. This represents a 11.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Dan Fitzsimons sold 6,977 shares of the company's stock in a transaction dated 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 sale, the executive now directly owns 90,223 shares in the company, valued at approximately $3,691,022.93. The trade was a 7.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 107,849 shares of company stock valued at $5,531,346. 5.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PSTG. Wall Street Zen raised shares of Pure Storage from a "hold" rating to a "buy" rating in a report on Friday. Morgan Stanley boosted their price target on shares of Pure Storage from $40.00 to $62.00 and gave the company an "equal weight" rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. cut their price objective on shares of Pure Storage from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday. Bank of America cut their price objective on shares of Pure Storage from $77.00 to $73.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $75.00 price objective on shares of Pure Storage in a research report on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Pure Storage has a consensus rating of "Moderate Buy" and a consensus target price of $69.95.

Pure Storage Price Performance

NYSE:PSTG traded down $0.13 on Friday, hitting $53.51. 5,960,451 shares of the company's stock were exchanged, compared to its average volume of 3,086,173. The firm has a 50-day moving average price of $47.40 and a 200-day moving average price of $55.92. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $73.67. The company has a market cap of $17.45 billion, a P/E ratio of 140.82, a price-to-earnings-growth ratio of 5.12 and a beta of 1.05.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The technology company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.25 by $0.04. Pure Storage had a net margin of 4.22% and a return on equity of 16.06%. The firm had revenue of $778.49 million for the quarter, compared to analysts' expectations of $770.03 million. During the same period in the previous year, the firm posted $0.32 EPS. The company's revenue for the quarter was up 12.3% on a year-over-year basis. On average, research analysts expect that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Pure Storage Company 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.