Pure Storage, Inc. (NYSE:PSTG) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. grew its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 1.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 126,460 shares of the technology company’s stock after acquiring an additional 1,300 shares during the period. Alliancebernstein L.P.’s holdings in Pure Storage were worth $2,724,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PSTG. Janney Montgomery Scott LLC increased its stake in Pure Storage by 30.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 14,759 shares of the technology company’s stock worth $334,000 after acquiring an additional 3,451 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Pure Storage by 6.6% in the fourth quarter. Victory Capital Management Inc. now owns 14,378 shares of the technology company’s stock valued at $325,000 after buying an additional 896 shares in the last quarter. AE Wealth Management LLC acquired a new stake in shares of Pure Storage in the fourth quarter valued at about $204,000. California Public Employees Retirement System grew its stake in shares of Pure Storage by 8.1% in the fourth quarter. California Public Employees Retirement System now owns 546,751 shares of the technology company’s stock valued at $12,362,000 after buying an additional 40,951 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in shares of Pure Storage in the fourth quarter valued at about $221,000. Institutional investors own 84.01% of the company’s stock.

In related news, Director Anita M. Sands sold 30,380 shares of the firm’s stock in a transaction that occurred on Thursday, April 8th. The stock was sold at an average price of $21.48, for a total value of $652,562.40. Following the sale, the director now directly owns 58,719 shares in the company, valued at approximately $1,261,284.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.80% of the stock is owned by company insiders.

A number of equities research analysts have recently issued reports on PSTG shares. Summit Insights reiterated a “buy” rating on shares of Pure Storage in a research note on Wednesday, February 24th. Morgan Stanley lowered their price objective on Pure Storage from $28.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 13th. Cowen raised their price objective on Pure Storage from $22.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, February 25th. TheStreet lowered Pure Storage from a “c-” rating to a “d+” rating in a research note on Thursday, May 27th. Finally, JMP Securities raised their price objective on Pure Storage from $26.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, February 22nd. Four 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. The company currently has an average rating of “Buy” and a consensus target price of $27.44.

Shares of NYSE PSTG opened at $19.13 on Friday. The company has a market cap of $5.36 billion, a P/E ratio of -18.05 and a beta of 1.41. Pure Storage, Inc. has a 12-month low of $13.91 and a 12-month high of $29.53. The company has a current ratio of 2.51, a quick ratio of 2.45 and a debt-to-equity ratio of 1.01. The business has a 50 day moving average of $19.70.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings results on Wednesday, May 26th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.06. Pure Storage had a negative return on equity of 23.91% and a negative net margin of 16.75%. Equities research analysts forecast that Pure Storage, Inc. will post -0.57 earnings per share for the current year.

About Pure Storage

Pure Storage, Inc provides technology and data storage solutions in the United States and internationally. The company delivers solutions based on proprietary Purity Operating Environment Software that implements enterprise-class storage services, such as data reduction, encryption, and protection, as well as protocol services, including block, file, and object.

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

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