Teacher Retirement System of Texas Purchases Shares of 45,323 Pure Storage, Inc. (NYSE:PSTG)

Teacher Retirement System of Texas purchased a new stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 45,323 shares of the technology company's stock, valued at approximately $2,006,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Glassy Mountain Advisors Inc. acquired a new stake in shares of Pure Storage in the first quarter valued at approximately $1,848,000. Krane Funds Advisors LLC raised its position in shares of Pure Storage by 16.6% in the first quarter. Krane Funds Advisors LLC now owns 6,152 shares of the technology company's stock valued at $272,000 after buying an additional 875 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Pure Storage by 4.5% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,945 shares of the technology company's stock valued at $2,388,000 after buying an additional 2,305 shares in the last quarter. Peregrine Capital Management LLC increased its stake in Pure Storage by 3.5% in the first quarter. Peregrine Capital Management LLC now owns 164,595 shares of the technology company's stock valued at $7,287,000 after acquiring an additional 5,503 shares during the last quarter. Finally, KBC Group NV raised its position in Pure Storage by 6.5% during the first quarter. KBC Group NV now owns 42,097 shares of the technology company's stock valued at $1,864,000 after purchasing an additional 2,574 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Pure Storage Price Performance

NYSE PSTG traded down $1.86 on Monday, reaching $54.50. The company had a trading volume of 2,353,374 shares, compared to its average volume of 2,919,212. The firm has a market cap of $17.81 billion, a price-to-earnings ratio of 147.30, a P/E/G ratio of 5.34 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 business has a 50 day moving average of $54.50 and a two-hundred day moving average of $55.15.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Piper Sandler restated an "overweight" rating and set a $66.00 price objective (up from $53.00) on shares of Pure Storage in a research report on Thursday, May 29th. Barclays lowered their price objective 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. Wedbush restated an "outperform" rating and set a $70.00 price objective on shares of Pure Storage in a research report on Thursday, May 29th. Citigroup boosted their price objective 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, Evercore ISI boosted their price objective on shares of Pure Storage from $60.00 to $70.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. One 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 MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $69.95.

Insider Buying and Selling

In other Pure Storage news, insider Ajay Singh sold 22,601 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $55.45, for a total transaction of $1,253,225.45. Following the sale, the insider owned 261,465 shares of the company's stock, valued at approximately $14,498,234.25. This represents a 7.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $5,201,000.00. Following the sale, the insider directly owned 801,959 shares in the company, valued at $41,709,887.59. This trade represents a 11.09% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,684 shares of company stock valued at $7,713,802. Company insiders own 5.60% of the company's stock.

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.