Assenagon Asset Management S.A. Has $52.68 Million Position in Pure Storage, Inc. (NYSE:PSTG)

Assenagon Asset Management S.A. reduced its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 8.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,477,133 shares of the technology company's stock after selling 137,704 shares during the period. Assenagon Asset Management S.A. owned 0.47% of Pure Storage worth $52,675,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSTG. Cambridge Investment Research Advisors Inc. increased its position in Pure Storage by 121.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,660 shares of the technology company's stock worth $765,000 after purchasing an additional 11,891 shares during the last quarter. Private Advisor Group LLC purchased a new position in shares of Pure Storage in the first quarter valued at approximately $233,000. MetLife Investment Management LLC purchased a new position in shares of Pure Storage in the first quarter valued at approximately $596,000. Synovus Financial Corp boosted its stake in shares of Pure Storage by 1.7% in the first quarter. Synovus Financial Corp now owns 43,894 shares of the technology company's stock valued at $1,547,000 after purchasing an additional 744 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Pure Storage by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,035,914 shares of the technology company's stock worth $36,582,000 after acquiring an additional 6,756 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Pure Storage Stock Performance

Shares of Pure Storage stock traded down $0.51 during trading on Tuesday, reaching $52.17. The company's stock had a trading volume of 2,220,578 shares, compared to its average volume of 5,153,411. The company has a 50-day moving average price of $45.61 and a two-hundred day moving average price of $39.02. The firm has a market cap of $16.48 billion, a PE ratio of 306.90, a P/E/G ratio of 6.56 and a beta of 1.15. Pure Storage, Inc. has a fifty-two week low of $22.14 and a fifty-two week high of $58.46. The company has a current ratio of 1.83, a quick ratio of 1.80 and a debt-to-equity ratio of 0.08.

Pure Storage (NYSE:PSTG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.10. Pure Storage had a net margin of 2.17% and a return on equity of 12.60%. The company had revenue of $789.81 million for the quarter, compared to analysts' expectations of $784.31 million. During the same period in the previous year, the company posted $0.27 EPS. Pure Storage's revenue was down 2.5% compared to the same quarter last year. On average, analysts forecast that Pure Storage, Inc. will post 0.45 EPS for the current year.

Wall Street Analysts Forecast Growth

PSTG has been the subject of a number of recent research reports. Morgan Stanley lifted their price target on shares of Pure Storage from $43.00 to $48.00 and gave the stock an "overweight" rating in a research note on Thursday, February 29th. Needham & Company LLC initiated coverage on shares of Pure Storage in a research note on Wednesday, March 6th. They issued a "buy" rating and a $66.00 price target for the company. TheStreet upgraded shares of Pure Storage from a "c" rating to a "b-" rating in a research note on Wednesday, November 29th. Stifel Nicolaus lifted their price target on shares of Pure Storage from $41.00 to $46.00 and gave the stock a "hold" rating in a research note on Thursday, February 29th. Finally, Wedbush restated an "outperform" rating and set a $50.00 price objective on shares of Pure Storage in a research report on Thursday, February 29th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $49.72.

Pure Storage Company Profile

Pure Storage, Inc, together with its subsidiaries, provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.