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Los Angeles Capital Management LLC Raises Stake in Pure Storage, Inc. (NYSE:PSTG)

Pure Storage logo with Computer and Technology background

Los Angeles Capital Management LLC raised its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 1,518.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 102,248 shares of the technology company's stock after purchasing an additional 95,931 shares during the period. Los Angeles Capital Management LLC's holdings in Pure Storage were worth $5,316,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PSTG. HighTower Advisors LLC boosted its holdings in shares of Pure Storage by 9.8% during the third quarter. HighTower Advisors LLC now owns 13,240 shares of the technology company's stock worth $472,000 after purchasing an additional 1,185 shares during the period. Deutsche Bank AG raised its position in Pure Storage by 238.9% during the third quarter. Deutsche Bank AG now owns 77,008 shares of the technology company's stock valued at $2,743,000 after acquiring an additional 54,288 shares in the last quarter. Kestra Advisory Services LLC raised its position in Pure Storage by 43.2% during the third quarter. Kestra Advisory Services LLC now owns 15,469 shares of the technology company's stock valued at $551,000 after acquiring an additional 4,669 shares in the last quarter. QRG Capital Management Inc. bought a new position in shares of Pure Storage in the third quarter valued at approximately $365,000. Finally, Invesco Ltd. raised its position in shares of Pure Storage by 82.1% in the third quarter. Invesco Ltd. now owns 517,692 shares of the technology company's stock valued at $18,440,000 after purchasing an additional 233,389 shares during the period. Institutional investors own 83.42% of the company's stock.


Insider Activity

In other news, insider Ajay Singh sold 37,588 shares of Pure Storage stock in a transaction dated 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 sale, the insider now directly owns 380,834 shares of the company's stock, valued at $20,389,852.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Ajay Singh sold 37,588 shares of Pure Storage stock in a transaction dated 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 sale, the insider now directly owns 380,834 shares of the company's stock, valued at $20,389,852.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mallun Yen sold 4,818 shares of the firm's stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $64.78, for a total value of $312,110.04. Following the transaction, the director now owns 35,498 shares of the company's stock, valued at $2,299,560.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 291,399 shares of company stock valued at $15,578,814. 6.00% of the stock is currently owned by corporate insiders.

Pure Storage Price Performance

NYSE:PSTG traded down $1.47 during trading hours on Friday, hitting $64.49. The company's stock had a trading volume of 8,842,156 shares, compared to its average volume of 4,349,280. The stock has a fifty day simple moving average of $58.52 and a 200-day simple moving average of $48.70. Pure Storage, Inc. has a twelve month low of $31.00 and a twelve month high of $70.41. The company has a market capitalization of $20.95 billion, a P/E ratio of 230.32, a PEG ratio of 6.89 and a beta of 1.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.96.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Susquehanna lifted their price target on shares of Pure Storage from $75.00 to $80.00 and gave the stock a "positive" rating in a research note on Friday. UBS Group boosted their target price on shares of Pure Storage from $38.00 to $44.00 and gave the company a "neutral" rating in a research note on Thursday, February 29th. Evercore ISI lifted their price target on Pure Storage from $65.00 to $75.00 and gave the company an "outperform" rating in a report on Thursday, May 30th. Lake Street Capital lifted their price target on Pure Storage from $48.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, May 30th. Finally, TD Cowen lifted their price target on Pure Storage from $60.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, May 30th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Pure Storage currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.68.

Read Our Latest Analysis on Pure Storage

Pure Storage Profile

(Free Report)

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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Institutional Ownership by Quarter for Pure Storage (NYSE:PSTG)

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