New Mexico Educational Retirement Board Buys Shares of 59,400 Pure Storage, Inc. (NYSE:PSTG)

New Mexico Educational Retirement Board purchased a new position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 59,400 shares of the technology company's stock, valued at approximately $3,088,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sei Investments Co. grew its stake in shares of Pure Storage by 19.7% during the third quarter. Sei Investments Co. now owns 464,256 shares of the technology company's stock worth $16,537,000 after buying an additional 76,421 shares during the last quarter. William Blair Investment Management LLC increased its holdings in Pure Storage by 11.4% in the 3rd quarter. William Blair Investment Management LLC now owns 687,600 shares of the technology company's stock worth $24,492,000 after purchasing an additional 70,620 shares in the last quarter. Weil Company Inc. bought a new position in Pure Storage in the third quarter valued at about $433,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Pure Storage during the fourth quarter valued at about $514,000. Finally, Mackenzie Financial Corp grew its holdings in shares of Pure Storage by 13.2% during the fourth quarter. Mackenzie Financial Corp now owns 533,530 shares of the technology company's stock worth $19,026,000 after purchasing an additional 62,274 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PSTG has been the topic of a number of recent analyst reports. Raymond James lowered Pure Storage from a "strong-buy" rating to an "outperform" rating and lifted their price objective for the stock from $52.00 to $63.00 in a research note on Friday, April 19th. Citigroup began coverage on shares of Pure Storage in a research note on Friday, March 15th. They set a "buy" rating and a $65.00 target price for the company. Barclays upped their price target on shares of Pure Storage from $42.00 to $51.00 and gave the company an "overweight" rating in a research report on Thursday, February 29th. StockNews.com downgraded Pure Storage from a "buy" rating to a "hold" rating in a research note on Friday, April 26th. Finally, KeyCorp upped their target price on Pure Storage from $51.00 to $55.00 and gave the company an "overweight" rating in a research report on Thursday, February 29th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $51.63.

Insider Transactions at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 37,588 shares of the business's stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $53.54, for a total value of $2,012,461.52. Following the completion of the sale, the insider now owns 380,834 shares in the company, valued at $20,389,852.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Roxanne Taylor sold 36,860 shares of Pure Storage stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $53.76, for a total value of $1,981,593.60. Following the sale, the director now owns 18,883 shares in the company, valued at $1,015,150.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ajay Singh sold 37,588 shares of the company's stock in a transaction on Friday, April 5th. The stock was sold at an average price of $53.54, for a total transaction of $2,012,461.52. Following the completion of the transaction, the insider now owns 380,834 shares of the company's stock, valued at $20,389,852.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 286,581 shares of company stock worth $15,266,704. Company insiders own 6.50% of the company's stock.

Pure Storage Price Performance

PSTG traded up $0.81 on Friday, reaching $52.24. The company had a trading volume of 1,881,586 shares, compared to its average volume of 2,875,938. Pure Storage, Inc. has a 52-week low of $22.14 and a 52-week high of $58.46. The company has a market cap of $16.97 billion, a price-to-earnings ratio of 307.31, a P/E/G ratio of 6.68 and a beta of 1.15. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.80 and a current ratio of 1.83. The business has a 50 day simple moving average of $51.90 and a 200 day simple moving average of $42.34.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.10. The firm had revenue of $789.81 million during the quarter, compared to analyst estimates of $784.31 million. Pure Storage had a return on equity of 12.60% and a net margin of 2.17%. The company's revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 earnings per share. As a group, sell-side analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current year.

Pure Storage 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.

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