XTX Topco Ltd Buys New Holdings in Pure Storage, Inc. (NYSE:PSTG)

Key Points

• XTX Topco Ltd has made a new investment of approximately $2.64 million in Pure Storage, acquiring 59,543 shares during the first quarter.
• Institutional investors have significantly raised their stakes in Pure Storage, with 83.42% of the stock now owned by hedge funds and other institutional investors.
• Pure Storage reported a quarterly earnings per share (EPS) of $0.29, exceeding analysts' estimates, with revenue of $778.49 million, reflecting a 12.3% year-over-year increase.

XTX Topco Ltd bought a new position in Pure Storage, Inc. (NYSE:PSTG - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 59,543 shares of the technology company's stock, valued at approximately $2,636,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Bank Pictet & Cie Europe AG raised its stake in Pure Storage by 23.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 9,201 shares of the technology company's stock valued at $565,000 after purchasing an additional 1,740 shares in the last quarter. LPL Financial LLC boosted its holdings in Pure Storage by 23.4% in the fourth quarter. LPL Financial LLC now owns 96,556 shares of the technology company's stock valued at $5,931,000 after acquiring an additional 18,306 shares in the last quarter. Prudential Financial Inc. lifted its position in Pure Storage by 155.8% during the fourth quarter. Prudential Financial Inc. now owns 89,571 shares of the technology company's stock valued at $5,502,000 after buying an additional 54,557 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Pure Storage by 18.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 243,185 shares of the technology company's stock worth $15,620,000 after purchasing an additional 37,906 shares during the last quarter. Finally, Allstate Corp purchased a new position in shares of Pure Storage in the 4th quarter worth about $546,000. Institutional investors own 83.42% of the company's stock.

Pure Storage Trading Up 0.6%

NYSE PSTG traded up $0.34 during trading on Thursday, hitting $59.57. 2,662,792 shares of the company traded hands, compared to its average volume of 1,967,842. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $73.67. The business has a fifty day simple moving average of $55.57 and a 200 day simple moving average of $54.75. The company has a market capitalization of $19.47 billion, a P/E ratio of 161.00, a PEG ratio of 5.63 and a beta of 1.06.

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

Insiders Place Their Bets

In other news, insider Ajay Singh sold 22,601 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was 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 of the company's stock, valued at $14,498,234.25. The trade was a 7.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Colgrove sold 198,749 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $60.32, for a total value of $11,988,539.68. Following the completion of the transaction, the insider directly owned 500,000 shares in the company, valued at $30,160,000. The trade was a 28.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 547,666 shares of company stock valued at $31,887,830 over the last quarter. 5.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wall Street Zen downgraded Pure Storage from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Wedbush reaffirmed an "outperform" rating and set a $70.00 price objective on shares of Pure Storage in a report on Thursday, May 29th. Evercore ISI increased their target price on Pure Storage from $60.00 to $70.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. Piper Sandler restated an "overweight" rating and issued a $66.00 price target (up from $53.00) on shares of Pure Storage in a research report on Thursday, May 29th. Finally, Barclays decreased their target price on 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $69.95.

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.