Union Bancaire Privee UBP SA Boosts Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Union Bancaire Privee UBP SA grew its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 35.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,678 shares of the technology company's stock after buying an additional 7,000 shares during the period. Union Bancaire Privee UBP SA's holdings in Pure Storage were worth $1,292,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSTG. McIlrath & Eck LLC purchased a new stake in shares of Pure Storage in the 4th quarter valued at $25,000. MassMutual Private Wealth & Trust FSB raised its holdings in Pure Storage by 55.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock valued at $29,000 after buying an additional 233 shares during the last quarter. Crowley Wealth Management Inc. bought a new stake in Pure Storage during the 4th quarter valued at $31,000. EverSource Wealth Advisors LLC raised its holdings in Pure Storage by 157.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 713 shares of the technology company's stock valued at $44,000 after buying an additional 436 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in Pure Storage by 180.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 740 shares of the technology company's stock valued at $46,000 after buying an additional 476 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company's stock.

Analyst Ratings Changes

PSTG has been the subject of a number of recent analyst reports. Evercore ISI upped their price target on shares of Pure Storage from $60.00 to $70.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Wall Street Zen upgraded shares of Pure Storage from a "hold" rating to a "buy" rating in a report on Friday, May 30th. UBS Group upped their price target on shares of Pure Storage from $47.00 to $50.00 and gave the company a "sell" rating in a report on Thursday, February 27th. Barclays lowered 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 report on Thursday, May 29th. Finally, Wedbush reiterated an "outperform" rating and set a $70.00 price target on shares of Pure Storage in a report on Thursday, May 29th. 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 company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.95.

Pure Storage Stock Down 0.0%

Shares of NYSE PSTG traded down $0.01 during trading on Monday, reaching $51.64. 5,428,799 shares of the company traded hands, compared to its average volume of 2,977,483. The firm has a 50 day simple moving average of $49.83 and a 200-day simple moving average of $56.20. The stock has a market capitalization of $16.84 billion, a PE ratio of 135.91, a P/E/G ratio of 5.12 and a beta of 1.05. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $73.67.

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

Insider Transactions at Pure Storage

In other Pure Storage news, Director John Francis Murphy sold 11,234 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $55.13, for a total transaction of $619,330.42. Following the sale, the director now owns 21,930 shares in the company, valued at approximately $1,209,000.90. This trade represents a 33.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Dan Fitzsimons sold 6,977 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $40.91, for a total transaction of $285,429.07. Following the sale, the executive now owns 90,223 shares in the company, valued at approximately $3,691,022.93. The trade was a 7.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 119,083 shares of company stock worth $6,150,676 in the last quarter. 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.