Pure Storage (NYSE:PSTG) had its target price upped by BMO Capital Markets to $22.00 in a research report report published on Wednesday morning, The Fly reports. They currently have an outperform rating on the technology company’s stock.

PSTG has been the topic of several other research reports. BidaskClub cut shares of Pure Storage from a hold rating to a sell rating in a research note on Wednesday, October 11th. Susquehanna Bancshares reaffirmed a positive rating and set a $20.00 price target (up previously from $18.00) on shares of Pure Storage in a research report on Thursday, October 5th. ValuEngine cut shares of Pure Storage from a hold rating to a sell rating in a research report on Monday, September 11th. JMP Securities upped their price target on shares of Pure Storage from $16.00 to $22.00 and gave the company an outperform rating in a research report on Friday, October 13th. Finally, KeyCorp reaffirmed a buy rating on shares of Pure Storage in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $18.50.

Shares of Pure Storage (NYSE:PSTG) opened at $16.97 on Wednesday. Pure Storage has a one year low of $9.12 and a one year high of $19.27.

Pure Storage (NYSE:PSTG) last posted its earnings results on Tuesday, November 28th. The technology company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The firm had revenue of $277.70 million for the quarter, compared to analysts’ expectations of $272.07 million. Pure Storage had a negative net margin of 22.86% and a negative return on equity of 44.86%. The company’s revenue was up 41.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.10) earnings per share. equities research analysts anticipate that Pure Storage will post -0.97 earnings per share for the current year.

In related news, President David Hatfield sold 130,000 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $18.05, for a total value of $2,346,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Timothy Riitters sold 25,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $15.85, for a total transaction of $396,250.00. The disclosure for this sale can be found here. Insiders sold a total of 317,028 shares of company stock worth $5,304,635 in the last 90 days. 46.58% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. Voya Investment Management LLC grew its position in Pure Storage by 64.7% in the 2nd quarter. Voya Investment Management LLC now owns 43,164 shares of the technology company’s stock worth $553,000 after purchasing an additional 16,955 shares in the last quarter. Vanguard Group Inc. grew its position in Pure Storage by 26.7% in the 2nd quarter. Vanguard Group Inc. now owns 7,059,059 shares of the technology company’s stock worth $90,427,000 after purchasing an additional 1,489,008 shares in the last quarter. BARING ASSET MANAGEMENT Ltd bought a new stake in Pure Storage in the 3rd quarter worth about $252,000. Legal & General Group Plc grew its position in Pure Storage by 42.7% in the 2nd quarter. Legal & General Group Plc now owns 23,623 shares of the technology company’s stock worth $303,000 after purchasing an additional 7,068 shares in the last quarter. Finally, Marcus Capital LLC grew its position in Pure Storage by 57.6% in the 2nd quarter. Marcus Capital LLC now owns 231,500 shares of the technology company’s stock worth $2,966,000 after purchasing an additional 84,600 shares in the last quarter. 38.46% of the stock is owned by institutional investors and hedge funds.

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About Pure Storage

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.

The Fly

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