Jasper Ridge Partners L.P. Holds Holdings in Pure Storage, Inc. (PSTG)
Jasper Ridge Partners L.P. held its position in Pure Storage, Inc. (NYSE:PSTG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 437,502 shares of the technology company’s stock at the close of the second quarter. Pure Storage makes up about 0.3% of Jasper Ridge Partners L.P.’s portfolio, making the stock its 28th biggest holding. Jasper Ridge Partners L.P. owned 0.47% of Pure Storage worth $5,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also bought and sold shares of PSTG. First Trust Advisors LP purchased a new position in shares of Pure Storage in the first quarter worth approximately $135,000. Point72 Asia Hong Kong Ltd boosted its holdings in shares of Pure Storage by 34.7% in the first quarter. Point72 Asia Hong Kong Ltd now owns 13,815 shares of the technology company’s stock worth $136,000 after buying an additional 3,557 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Pure Storage by 641.5% in the second quarter. BNP Paribas Arbitrage SA now owns 11,649 shares of the technology company’s stock worth $149,000 after buying an additional 10,078 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Pure Storage in the second quarter worth approximately $166,000. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Pure Storage in the first quarter worth approximately $189,000. 35.77% of the stock is currently owned by institutional investors.
Pure Storage, Inc. (PSTG) traded up 0.83% during trading on Monday, hitting $14.54. 197,089 shares of the stock traded hands. The stock has a 50 day moving average price of $13.28 and a 200-day moving average price of $11.95. Pure Storage, Inc. has a 52-week low of $9.12 and a 52-week high of $15.14. The stock’s market cap is $3.04 billion.
Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Thursday, August 24th. The technology company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.20. The company had revenue of $224.50 million for the quarter, compared to analyst estimates of $217.97 million. Pure Storage had a negative return on equity of 46.12% and a negative net margin of 29.55%. The firm’s revenue for the quarter was up 37.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.16) EPS. On average, analysts anticipate that Pure Storage, Inc. will post ($0.21) EPS for the current fiscal year.
In other Pure Storage news, CFO Timothy Riitters sold 8,255 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $13.14, for a total value of $108,470.70. Following the transaction, the chief financial officer now owns 242,448 shares in the company, valued at approximately $3,185,766.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michelangelo Volpi sold 390,957 shares of the firm’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $13.33, for a total value of $5,211,456.81. The disclosure for this sale can be found here. Insiders sold a total of 2,343,160 shares of company stock worth $30,911,463 in the last 90 days. 41.47% of the stock is currently owned by insiders.
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Several brokerages have weighed in on PSTG. Vetr raised shares of Pure Storage from a “buy” rating to a “strong-buy” rating and set a $15.50 price target on the stock in a report on Wednesday, June 14th. BMO Capital Markets reaffirmed an “outperform” rating and set a $16.00 price target (up previously from $15.00) on shares of Pure Storage in a report on Friday, August 25th. ValuEngine raised shares of Pure Storage from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Morgan Stanley downgraded shares of Pure Storage from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $17.00 to $12.00 in a report on Thursday, May 18th. Finally, BidaskClub raised shares of Pure Storage from a “sell” rating to a “hold” rating in a report on Thursday, August 24th. Eleven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $15.61.
Pure Storage Company Profile
Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.
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