Wellington Management Group LLP Raises Holdings in Pure Storage, Inc. (NYSE:PSTG)

Wellington Management Group LLP increased its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 285.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,809 shares of the technology company's stock after acquiring an additional 111,655 shares during the quarter. Wellington Management Group LLP's holdings in Pure Storage were worth $9,264,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in Pure Storage by 11.2% during the 4th quarter. Blue Trust Inc. now owns 4,634 shares of the technology company's stock valued at $285,000 after buying an additional 468 shares in the last quarter. Mediolanum International Funds Ltd grew its holdings in Pure Storage by 45.8% during the 4th quarter. Mediolanum International Funds Ltd now owns 27,265 shares of the technology company's stock valued at $1,699,000 after buying an additional 8,559 shares in the last quarter. JB Capital LLC grew its holdings in Pure Storage by 9.8% during the 4th quarter. JB Capital LLC now owns 28,708 shares of the technology company's stock valued at $1,764,000 after buying an additional 2,568 shares in the last quarter. Financial Life Planners purchased a new stake in Pure Storage during the 4th quarter valued at approximately $44,000. Finally, Trust Point Inc. purchased a new stake in Pure Storage during the 4th quarter valued at approximately $202,000. 83.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 872 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $51.51, for a total value of $44,916.72. Following the completion of the transaction, the executive now directly owns 89,351 shares in the company, valued at approximately $4,602,470.01. The trade was a 0.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Colgrove sold 100,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $52.01, for a total transaction of $5,201,000.00. Following the completion of the transaction, the insider now owns 801,959 shares of the company's stock, valued at $41,709,887.59. This represents a 11.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 107,849 shares of company stock worth $5,531,346 over the last three months. 5.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on PSTG shares. Evercore ISI raised their target price 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. JPMorgan Chase & Co. dropped their price objective on shares of Pure Storage from $75.00 to $70.00 and set an "overweight" rating for the company in a research note on Thursday, May 29th. Morgan Stanley lifted their price objective on shares of Pure Storage from $40.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. Wedbush reaffirmed an "outperform" rating and set a $70.00 price objective on shares of Pure Storage in a research note on Thursday, May 29th. Finally, Bank of America dropped their price objective on shares of Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. 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's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $69.95.

Pure Storage Price Performance

Shares of NYSE:PSTG traded down $0.11 on Wednesday, hitting $54.76. 2,061,456 shares of the company's stock were exchanged, compared to its average volume of 2,999,565. The business's 50 day simple moving average is $47.58 and its two-hundred day simple moving average is $56.03. The stock has a market capitalization of $17.85 billion, a price-to-earnings ratio of 144.11, a price-to-earnings-growth ratio of 5.12 and a beta of 1.05. 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 released its quarterly earnings data on Wednesday, May 28th. The technology company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. The firm 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 16.06% and a net margin of 4.22%. The firm's quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 earnings per share. Equities analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

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.