IQ EQ FUND MANAGEMENT IRELAND Ltd Increases Stock Position in Pure Storage, Inc. $PSTG

IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 134.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,075 shares of the technology company’s stock after purchasing an additional 35,022 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Pure Storage were worth $5,119,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Winnow Wealth LLC purchased a new position in Pure Storage in the third quarter worth about $26,000. CoreCap Advisors LLC boosted its holdings in shares of Pure Storage by 123.7% in the third quarter. CoreCap Advisors LLC now owns 510 shares of the technology company’s stock worth $43,000 after buying an additional 282 shares during the last quarter. Quent Capital LLC purchased a new stake in Pure Storage during the third quarter valued at approximately $43,000. True Wealth Design LLC raised its position in Pure Storage by 402.8% in the second quarter. True Wealth Design LLC now owns 548 shares of the technology company’s stock worth $32,000 after acquiring an additional 439 shares during the period. Finally, SouthState Corp grew its position in shares of Pure Storage by 474.8% during the 2nd quarter. SouthState Corp now owns 592 shares of the technology company’s stock valued at $34,000 after acquiring an additional 489 shares during the period. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insider Activity at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $71.31, for a total transaction of $7,131,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ajay Singh sold 7,178 shares of Pure Storage stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total value of $481,930.92. Following the completion of the transaction, the insider owned 215,091 shares of the company’s stock, valued at approximately $14,441,209.74. This trade represents a 3.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 207,178 shares of company stock worth $16,771,931 over the last three months. 5.60% of the stock is currently owned by insiders.

Pure Storage Trading Down 4.2%

NYSE:PSTG opened at $64.42 on Friday. The business’s 50-day moving average is $71.18 and its 200 day moving average is $75.91. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $100.59. The company has a market capitalization of $21.27 billion, a P/E ratio of 169.53, a P/E/G ratio of 5.23 and a beta of 1.27.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Tuesday, September 9th. The technology company reported $0.44 earnings per share for the quarter. Pure Storage had a return on equity of 10.60% and a net margin of 3.74%.The business had revenue of $763.77 million during the quarter. On average, research analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PSTG. Barclays lifted their target price on Pure Storage from $70.00 to $77.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 3rd. TD Cowen reissued a “buy” rating on shares of Pure Storage in a research note on Wednesday, December 3rd. Citigroup lowered their target price on shares of Pure Storage from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, December 3rd. UBS Group increased their price target on Pure Storage from $55.00 to $60.00 and gave the stock a “sell” rating in a research note on Wednesday, December 3rd. Finally, JPMorgan Chase & Co. lowered their price objective on Pure Storage from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 3rd. Twelve investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $95.26.

About Pure Storage

Pure Storage, Inc (NYSE: PSTG) is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays that are engineered to deliver high performance, low latency and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics and large-scale file/object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.