Illinois Municipal Retirement Fund Has $5.50 Million Position in Pure Storage, Inc. $PSTG

Illinois Municipal Retirement Fund lessened its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 15.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 65,604 shares of the technology company’s stock after selling 11,803 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Pure Storage were worth $5,498,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S grew its position in Pure Storage by 96.3% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 31,166 shares of the technology company’s stock worth $2,612,000 after purchasing an additional 15,286 shares during the last quarter. AlTi Global Inc. bought a new stake in shares of Pure Storage in the third quarter valued at about $2,517,000. Merit Financial Group LLC grew its position in Pure Storage by 145.6% during the third quarter. Merit Financial Group LLC now owns 25,943 shares of the technology company’s stock worth $2,174,000 after buying an additional 15,382 shares in the last quarter. Oak Thistle LLC acquired a new stake in Pure Storage during the third quarter worth about $1,653,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Pure Storage by 11.8% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 173,130 shares of the technology company’s stock valued at $14,510,000 after acquiring an additional 18,256 shares during the period. 83.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Barclays lifted their price objective on Pure Storage from $70.00 to $77.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 3rd. Evercore reaffirmed an “outperform” rating on shares of Pure Storage in a research report on Wednesday, December 3rd. TD Cowen reiterated a “buy” rating on shares of Pure Storage in a research note on Wednesday, December 3rd. Wall Street Zen lowered shares of Pure Storage from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Finally, Wedbush raised their price objective on shares of Pure Storage from $90.00 to $100.00 and gave the stock an “outperform” rating in a 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 assigned a Sell rating to the company’s stock. According to MarketBeat, Pure Storage currently has a consensus rating of “Moderate Buy” and an average price target of $95.26.

Pure Storage Stock Performance

Shares of NYSE:PSTG opened at $73.93 on Friday. The company’s fifty day moving average is $70.30 and its 200-day moving average is $76.58. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $100.59. The company has a market capitalization of $24.41 billion, a PE ratio of 194.56, a P/E/G ratio of 5.51 and a beta of 1.27.

Pure Storage (NYSE:PSTG) last announced its earnings results on Tuesday, December 2nd. The technology company reported $0.58 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.58. The business had revenue of $964.45 million during the quarter, compared to analysts’ expectations of $955.60 million. Pure Storage had a net margin of 3.74% and a return on equity of 10.60%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the company posted $0.50 EPS. On average, analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current year.

Insider Activity at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Monday, December 8th. The stock was sold at an average price of $71.31, for a total value of $7,131,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ajay Singh sold 7,178 shares of the stock in a transaction 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 sale, the insider owned 215,091 shares in the company, valued at $14,441,209.74. The trade was a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.60% of the stock is owned by insiders.

Pure Storage Profile

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.