Pure Storage, Inc. (NYSE:PSTG) Position Raised by UNICOM Systems Inc.

UNICOM Systems Inc. increased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 44.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 412,467 shares of the technology company's stock after buying an additional 127,467 shares during the period. Pure Storage comprises approximately 3.7% of UNICOM Systems Inc.'s portfolio, making the stock its 8th largest position. UNICOM Systems Inc. owned 0.13% of Pure Storage worth $18,260,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Pure Storage by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 33,443,732 shares of the technology company's stock valued at $2,054,448,000 after acquiring an additional 615,931 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Pure Storage by 5.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,207,162 shares of the technology company's stock worth $442,736,000 after acquiring an additional 401,035 shares in the last quarter. Geode Capital Management LLC grew its holdings in Pure Storage by 25.4% in the fourth quarter. Geode Capital Management LLC now owns 6,748,553 shares of the technology company's stock worth $413,982,000 after purchasing an additional 1,366,458 shares during the period. Champlain Investment Partners LLC increased its stake in Pure Storage by 3.0% in the fourth quarter. Champlain Investment Partners LLC now owns 5,921,392 shares of the technology company's stock valued at $363,751,000 after purchasing an additional 174,449 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Pure Storage by 18.8% during the fourth 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 period. 83.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on PSTG. 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 research report on Tuesday, May 20th. Evercore ISI upped their target price on Pure Storage from $60.00 to $70.00 and gave the stock an "outperform" rating in a research report on Friday, May 23rd. Wedbush reissued an "outperform" rating and issued a $70.00 price target on shares of Pure Storage in a research report on Thursday, May 29th. 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 note on Thursday, May 29th. Finally, Wall Street Zen raised shares of Pure Storage from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Pure Storage has a consensus rating of "Moderate Buy" and a consensus target price of $69.95.

Pure Storage Price Performance

Shares of NYSE PSTG traded down $1.86 during midday trading on Monday, reaching $54.50. The company's stock had a trading volume of 2,353,374 shares, compared to its average volume of 2,837,388. The stock has a market capitalization of $17.81 billion, a P/E ratio of 147.30, a PEG ratio of 5.34 and a beta of 1.06. The firm has a 50 day moving average price of $54.37 and a 200-day moving average price of $55.22. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $73.67.

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, topping the consensus estimate 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 business's revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 earnings per share. On average, equities 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 Ajay Singh sold 22,601 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $55.45, for a total value of $1,253,225.45. Following the transaction, the insider directly owned 261,465 shares in the company, valued at $14,498,234.25. The trade was a 7.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Francis Murphy sold 11,234 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $55.13, for a total transaction of $619,330.42. Following the sale, the director owned 21,930 shares of the company's stock, valued at approximately $1,209,000.90. The trade was a 33.87% 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 worth $7,713,802. 5.60% of the stock is currently owned by corporate insiders.

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.